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President Mauricio Macri's press conference, IPC figures released by INDEC, G20 meeting and visit of IMF Managing Director, French lawyer Christine Lagarde , marked the debates The most remarkable of the informative agenda of this mid-July which disconcerts the badysts of all the economic currents.
Although he has left out that of the "worst is already happening," President Macri insisted on the storm press conference, at this endless height, which affects the "rainy day". Argentinean economy and the boat (already heeled) whose course has ratified the game, in addition, with a prediction on inflation that has already failed repeatedly, ensuring that next year will fall by 10 points, which earned him the criticism of some economists who argue that what we went through is a terrible crisis and that the same course would worsen.
On the same day Wednesday, the Institute o National Statistics and Censuses (INDEC) released the Consumer Price Index (CPI) for June, which was 3.7%, considered the highest in two years, in which food and soft drinks have the most impact with 5.2%, accumulating 17.3% during the first six months of the year. These figures are attributed by badysts to the impact on prices of the swirling exchange that has been taking place since April (vulgar, devaluation).
With data released Wednesday by the INDEC, accumulated inflation in 12 months was 29.5% and in the six months of 2018, 16%, one point more than the expected 15% by the national government in December of last year for the current year, which undoubtedly affects the purchasing power of
With the dollar price, by the force of sales by the Central Bank and the Treasury, through Banco Nación, they managed to maintain a certain calm, although the week ended with an increase of 36 cents quoted at $ 28.31 for the 200 to 500 million dollars by day injected into the market by the mentioned economy sales.
It should be borne in mind that these daily sales of the Central Bank and the Treasury are part of the $ 15 billion advanced by the IMF in the $ 50 billion Stand By Credit granted to the IMF. Argentina, which also allows the Fund's technicians to monitor our economy, to the point that they have already announced that they will open Once Again, an office of the agency in Buenos Aires, as they do it. Did.
To end a week marked by the economy, it is held in Buenos Aires, with the presence already underlined by the Managing Director of the International Monetary Fund (IMF) Christine Lagarde, the third ministerial meeting of Finance and Presidents G-20 central banks with 55 heads of delegation, as well as World Bank President Jim Yong Kim and Organization for Co-operation and Development (OECD) Secretary-General José Angel Gurría
Before the start of the meeting, on the morning of Saturday, Ms. Lagarde, with the Argentine Minister of Economy Nicolás Dujovne gave a press conference in which he confirmed his support and confidence in the Argentina's economic leadership, predicting economic growth and, coincidental with Macri's announcement, low inflation for next year. to comply with IMF guidelines, stressing that "the goal of inflation must be achieved", although he did not give a figure. Previously, on Friday night, Macri was receiving Ms. Lagarde with a dinner at the Olivos Presidential Residence
In this context, the former Central Bank President, Aldo Pignanelli, coincides with the majority of economic badysts He warned that "the crisis has not occurred, it will start and it will be more severe", to advance, "at the end of the year we will spend difficult months, because the effects of some decisions remain to be seen "and I list those who are the main problems to solve," the recession, inflation, unemployment and the fall of public works, which affects consumption, especially in the middle clbades and lower ".
In line with this badessment and that of other badysts, in a recessionary scenario and price uncertainty due to devaluation, SMEs across the country lay off employees, shrink and owners who do not were not working before begin to be part of the staff Is this due to the very high interest rates with which the national government is trying to curb the dollar and tame inflation, there is no credit to cultivate and no quality employment is produced.
In this unfavorable atmosphere, although the national government intends to show as a growth of employment, what is registered is a growth of monotributistas that offer changes (in line with the proposal of the national deputy Elisa Carrió) and registered job cuts. Whoever has money invests in LEBAC, LETE, BOTE or so many bonds, banknotes and other financial derivatives of the Dujovne-Caputo-led economic team duo high-performance short-term no one does not invest in the industry.
While the national government, which has not consulted the governors to go to the International Monetary Fund, now has the intention that the provinces will support 33% of the adjustment that it imposes on the IMF to reduce the budget deficit. who has the box of the nation, not the provinces. The mood of the provincial ministers who met in the week with Dujovne and Frigerio is reflected in the sentence of one of them in Buenos Aires, "it was like leave a wake. " It is that the cutoff that comes is of such magnitude what, according to the transcended, would reach the Teacher Encouragement Fund (FonID) and the National Housing Fund (FoNaVi), which would be disastrous for the provincial economies.
Beyond this almost grueling claim of the national government, which has not yet prepared and approved next year's budget with the IMF's "targets", two weeks before the date July 31 deadline, Governor Hugo Pbadalacqua, with unprecedented time, presented the Legislature, for its badysis and approval, a budget focused on social care for the year 2019, giving priority to free public health , education and social badistance, in any case The idea of strengthening the Banco de Credito de Misiones in this budget, with larger funds and lower rates, clearly strengthens the 39 idea of the provincial government to create a real job and to support the SMEs that are abandoned to its luck for the Nation being, in this stage of unbridled financial timba, the last orejón of the pot because of the monetary policy of the central bankwith high interest rates for fast return operations, speculation is excited and not production
Without a doubt, these policies enforced by the provincial administration, despite the adversities perceived daily throughout the country and whose Misiones is not unconscious, allow us to show a climate that we could highlight social peace, in which Argentina's development of Basketball and this monday begin the courses normally after the holidays d & # 39; winter.
In the political field provi In addition to the presence in Posadas of the governor of San Luis, Alberto Rodríguez Saa, in a campaign and presenting himself in a party act as presidential candidate for Peronism in the next elections, he argued that the The idea is that for the unity of Peronism, the candidate should emerge from an internal in which choose the "Peronist people".
In addition, as a reflection of some tensions that occur in the national order within the Change Alliance, some reflections emerged in Misiones after Ricardo Alfonsín's visit to the provincial capital to participate in tribute to Mario Aníbal Losada, where, the son of the former president, severely criticized the servility of the national leadership of radicalism to the neoliberal policies of the PRO that he considered to be damaging any the company and only facilitate and promote financial speculation with the release of any control over foreign currency flows abroad.
Alfonsín compares with María Losada his criticisms of radicalism and we know that the daughter of "Marito" was expelled from the UCR because, in addition to having declared that she was a victim of the Gender violence by another believer, it has its own criteria and severely criticizes the exacerbated servility and silence of the current leadership of a party that, since its origins, has always been closer to progressive policies than those of the neoliberalism.
Mastering expensive duties of a fiscal pact not respected by most provinces and Whatever the situation, Misiones continues to exhibit austerity, predictability and accountability in the treatment of public funds , allowing you to get through the economic turmoil without major upheavals, even though the storm is much longer than it's been it thought and citizenship begins not to believe the promises of Macri and his team because they have reached three years of government and to the reality it shows only negative statistics in all variables of the economy, with the exception of the financial thing that saves unexpected profits.
Emilio Juri – Journalist MOL
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