With caution, the government reviews its speech against the currency crisis and Alberto Fernández

As of Monday, a new official mantra built and coordinated for the occasion will begin to turn to public opinion
extreme volatility by the Minister of Finance,
Hernán Lacunza and part of the political wing of the government. This is not a minor attempt, especially considering the diagnosis made by the official teams in the Treasury rooms and
Private economists who have visited the minister in recent hours, the political speech has become one of the keys to financial instability.

In simple terms, the idea will be to turn the other cheek. "Despite
statements of
Alberto Fernandez"We will even hear the most inflammatory voices of the ruling party, and among the key words will be" dialogue "," consensus "," responsibility "," clear signals "," rationality "and" respect ". of course, is
With one goal: financial stability.

At least at the Palacio de Hacienda and in some corridors of Casa Rosada, they also understood that the duplication of the panels -Lacunza and
Mauricio Macri ask for caution, and
Miguel Angel Pichetto and
Elisa Carrió In showing the culprit, it did not produce virtuous results in the face of volatile finances and the exchange rate, although on the opposite side, evidence of these declines was also found. The most clear, believe it,
the interview that Fernández offered to
The Wall Street Journal In the last hours

"Despite the statements of Alberto Fernández, who said that Argentina was in a
virtual defect and hidden, as a government, we continue to bet on
dialogue and
consensus", is the letter that is already starting to spread on the smartphones of the ruling party.

"We can badyze how we got here, some will attribute the sum of all ills to the alleged bad practice of the current government, on the contrary, others will attribute it to the presumed future of past experience. Almost without nuances, the fault is The truth? I do not think the ordinary citizen really cares who is right, "said Lacunza in a game of
his speech last Wednesday, when he announced the "reperfilation" of short-term debt. In his speech of about four pages, only one word was highlighted in capital letters, which enabled him to verify this support:
"caution".

Dialogue and consensus

The government will focus on sending the bill to Congress on Monday to clarify the financial requirements for the 2020-2023 period. "It is up to the Argentine political leaders that whoever is elected president of the nation can deploy their economic and social policies without financial conditions," will be used. minister
It will be presented at 3 pm on Wednesday at the Permanent Bicameral Commission for Monitoring and Control of Foreign Debt, as confirmed by those familiar with its daily program.

The official speech will reinforce the idea of ​​a logic advocated by Macri himself to "build consensus through political dialogue" and the signal will be given that Lacunza will leave the doors open to continue the "dialogue" with the main economic references of the world. opposition to getting "the greatest possible support" for the project. The Minister recently spoke with several private economists, including
Carlos Melconian and
Martín Lousteau, but also with
William Nielsen and
Martin Redrado, as he knew
THE NATION.

"We believe that it is essential to make clear that the voluntary extension of debt conditions, without capital deletion or interest, is reflected in the agreement of all the forces of the Congress: Above all, because the bill seeks to release the financial horizon of the next mandate, "it will be said in the offices of the Treasury and Casa Rosada.

"It is essential that, beyond the interests of the party, a logic of rationality and respect be set aside, that the electoral speculations are discarded and that economic stability is privileged as a major badet to take care of the Argentines", insists the party in power.

The official mantra arrives after a
capital control banks, which have been banned from distributing dividends in order to increase liquidity and rebadure depositors. Previously, the Central Bank (BCRA) had decided to put pressure on the major exporters so that they would offload the offer of private dollars on the foreign exchange market in a week during which nearly 1, US $ 5 billion of reserves were used.

But beyond the speeches, the government took another path last Wednesday despite the possibility of stock splits and exchange rates, said the government:
rebalancing of short-term debt. By abolishing this debt by decree, it represented at least US $ 9 billion to protect stability, which it still could not get with this support because of the electoral noise.

That's why in addition to
shock measurements which can be promoted as early as Monday to give signs of strength or signs of liquidity to the market and depositors, the government has decided to give political signals to try to offer at least the calm of the speech.