Redrado pointed to short-term debt to curb the dollar without wasting reserves



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To stop the race without wasting reserves is that the @BancoCentral_AR and the Ministry of the Economy buys the debt that expires in the short term. Argentina would save $ 1,500 million.

– Martín Redrado (@martinredrado) August 16, 2019

This Friday, Redrado had considered a "mistake" to continue "Burning reserves to finance capital outflows". "You have to search all the possible artillery to stop the race and stabilize the exchange rate," he said in statements on the radio.

At a time, He said Monday that President Mauricio Macri had let the peso devalue himself after losing to the OSP.

"The president said Monday" that the dollar was going where he had to go so that the Argentineans know who they voted for ""he said.

The economist badured that he had obtained this information through "good dialogue with the authorities, with the people of the Central Bank after working five and a half years with these professionals".

Redrado recalled that "The agreement with the IMF had written that when the exchange rate would have risen to 51.45 pesos, the Central Bank would sell 250 million dollars".

But, he pointed out, "nothing he did on Monday", whereas after the STEP, the US currency had reached 66 pesos at the time of the greatest tension on rates currency exchange.

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