translated from Spanish: Alberto Fernández: “Macri allocates state resources in banks, I choose retirees”

Less than two weeks into the next P.A.S.O. election, the pre-candidate for the De Todos front, Alberto Fernández, seems determined to set the economic agenda at the center of the debate for the presidency. In this regard, the former Chief of Staff spoke on the role to be assigned on state resources, the price of the dollar, tariffs and clarified his position on the payment of Leliqs’ interest. “What we are discussing with Macri is where we allocate state resources, whether we allocate them to retirees or banks. Macri tells the banks, I choose the retirees,” Fernández said. 

In dialogue with LN+, the pre-candidate argued that if elected there will be no cessation of payment of the Central Bank’s Liquidity Letters: “I never talked about defaulting the Leliqs, Yes I did talk about lowering the leliqs’ interest.” After this point he talked about the dollar, which trades over the 43 pesos a few days ago: “If the dollar, we all know it is devalued. Ask Dujovne or the president of the central bank how much the future dollar is at in December, 25 percent more expensive than it is today.” It’s a business that makes Macri keep the dollar ironing so that people get the feeling of a stable economy, but the truth is that the dollar is ironing, monthly inflation is above 2.5 percent,” he deepened. In this line he stated that the price of the dollar and its eventual takeoff will have a new impact on fares: “You have to explain to people that after October the rates are going to become unpayable.”

“It will have to be seen in concrete; I say ‘de-sdolating’ them, because with this dollar value I’m sure the dollar won’t hold out much longer. If I follow the logic of the future dollar by the end of the year, I have a 25% increase in fees just for the ‘dolarizing’ effect,” he said. Ultimately, he mentioned the case of field holds: “It’s very delicate. This government did the worst of it, took them out, then increased them back to the field, then put withholdings into the fruit, the olive, the wines and, as if it did not reach, put withholdings into the industry. This is nonsense.” “Withholdings can only be conceived for primary production, to which value is not added. Industrialized product is nonsense. Those holds can’t last ten minutes. These have to be taken out of rennet, because it is a despondency to production,” Fernandez concluded. In this note:

Original source in Spanish