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The president and the new minister at the oath Tuesday.
Télam
Hernán Lacunza spoke for the first time as Finance Minister and presented the plan to deal with the crisis. There is one absolute priority: keep the dollar steady and avoid jumps. But for this to happen, there are other solutions, such as reaching a political agreement with the presidential candidates.
The number one priority of Hernán Lacunza and the government is to maintain the stability of the dollar. In other words, avoid new devaluation jumps that generate more stability. Lacunza admitted that this variable had an impact and a strong condition. "The priority is to guarantee the stability of the exchange rate during this election period. The economy has lost a nominal benchmark for pricing, especially after the volatility of exchange rates. Stabilizing the exchange rate is what we can do better. No higher exchange rate is needed. Any upward trend does not meet a need, "he said. To do this, the Central Bank and the Treasury will coordinate the measures and use "all the tools" they have. "We want to preserve the risk of additional impulses for already high inflation. We are coordinating the objectives with the Central Bank, which will use at its discretion the necessary tools so that the exchange rate does not leave the range that it had last week, "he added.
Fiscal Balance Despite instability, the Minister of Finance has ensured that the fiscal targets set out in the budget and agreed with the IMF would be maintained. "We will guarantee the tax guidelines agreed with the International Monetary Fund," he said. In this regard, he said that measures taken to alleviate the crisis would not have a negative effect. "The measures needed to limit the impact on revenues and prices do not jeopardize the achievement of fiscal targets because they will be financed by higher incomes," he said. According to government forecasts, the targets will be "over-achieved" in the third quarter and at the end of the year.
One of the keys to overcoming the crisis is the need for a political agreement among the candidates to show signs of stability. That is why Lacunza announced that he would convene the economic referents of all presidential candidates to "agree on guidelines" for a frightening coexistence for the problems. "The electoral process is not indifferent to the stability of trade. The market is more attentive to the future than to the present, "he explained. "The president has asked me to convene the economic referents of all the candidates, the Todos Front, our, to agree on basic conditions to preserve this stability, then to compete for the people to choose. But we can not put stability at risk. "
Lacunza acknowledged that inflation "will have an extra step" in August and September. Therefore, he badured that they would take all necessary measures to increase the pressure on prices, "he said.
Lacunza confirmed officials already at the ministry, but added men and women of his confidence. Sebastián Cats, is Secretary of Economic Policy. Milagros Gismondi is another. Hugo Medina, is the legal secretary, Rodrigo Pena has been confirmed as Secretary of the Treasury; Santiago Bausili, secretary of finance, and Gustavo Lopetegui will continue to perform their duties as secretary of energy.
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