Massa announced that he will resort to economic Criminal Justice and that he will rediscuss the agreement with the IMF

The Minister of Economy, Sergio Massa Through social networks, he maintained that “We are going to use all the tools of the State to order the situation.” In a series of tweets, the official established the government’s position in the face of the currency and inflationary crisis that the country is experiencing and that seems to have no ceiling.

After a first quarter of some calm for the exchange rate, in which the free quotations of the dollar advanced below inflation, exchange rate volatility returned in the fourth month of the year. Example of that is that the informal or blue dollar accumulates more than 100 pesos of rise, from the $392 that was quoted in the first days of April.

For several days we have been experiencing an atypical situation of rumors, versions, false reports and their consequent impact on financial instruments linked to the dollar.

— Sergio Massa (@SergioMassa) April 25, 2023

In his thread of tweets, the minister assured that the government is going to make some decisions, including rediscussing with the International Monetary Fund. “We are going to use all the tools of the State to order this situation and in that sense We notified the IMF of the restrictions that weighed on Argentina and we are going to change in the rediscussion of the Program“.

And he went further: “Besideswe are going to use economic Criminal Justice as an investigation vehicle and clarification of some behaviors and the FIU and the CNV for the analysis of operations related to money laundering”.

Finally, he also referred to the issue of BCRA reserves. “We are going to continue with the multilateral agreements, exporters with the transformation of exports into yuan and the disbursement agreement with the IMF to strengthen the reserves that were affected by the impact of the drought,” he said.

hot dollar

This Tuesday, April 25, the dollar exploded and was barely 3 pesos out of 500. And it alerted many. Even to the government itself, first by the hand of Gabriela Cerrutti, and later by Sergio Massa, who sought to make it clear that the government will use “all its tools” to prevent the bullfight.

LR