The parallel currency is at 9-month highs and appears to be unchecked. In the Government, everyone looks at the Minister of Economy. Expectation for the wheel of this Wednesday.
The rise of the blue dollar seems to have no brake and the alerts sounded again in the Casa Rosada. It starts the day at $ 182, the highest level since the end of last October, which left the gap with the wholesaler close to 90%.
The concern took hold of the official offices once again because the blue arrived this Tuesday to touch $ 184 in the informal circuit. All the looks they turned to the Minister of Economy, Martin Guzman, who just ten days ago established new restrictions on financial dollars to stop the advance of the parallel.
Throughout the day, the minister exchanged messages with the president Alberto Fernandez. I search bring you serenity due to the behavior of the informal market, which has a volume more than limited, but which has a strong impact on the economy and politics.
Guzman assured him that “it’s all under control”. He explained that the latest measures on the “cash with settlement” are giving results, because they limit the oscillations in that segment that allows dollars to be made abroad and remains below the implicit ceiling that the authorities set: $ 170.
In those messages the head of the Treasury presented to Fernández a condition What do you think indispensable so that the calm returns to the exchange market: that there is a agreement with the International Monetary Fund (IMF). Or at least, maintains the minister, a clear sign that understanding will come after the elections Legislative November.
But that posture the hard wing doesn’t like it Kirchnerism. The vice president Cristina Kirchner distrust of Guzmán’s promises, with the inflation that does not fall, the activity that does not rebound and the parallel dollar that woke up after the calm of almost six months.
Before Guzmán traveled to Venice for the G20 summit and where he met the head of the Fund, Kristalina Georgieva and the head of the US Treasury, Janet Yellen, there was summit at the presidential residence of olives where the differences were exposed.
Fernández, Guzmán, the Vice President, the Buenos Aires governor Axel Kicillof and the head of the official bench of Deputies. Maximum Kirchner. There arose a kind of ultimatum to the minister: return measures urgently to achieve contain inflation and the dollar, especially since the parallel is seen in the market as a reaction to rising internal costs.
The tranquility of both variables, prices and the exchange rate, is a fundamental piece of the Government’s strategy towards the elections legislative. And the climbing of the dollar blue conspire against that objective and may lead to a renewed impact on inflation rates and, therefore, on the mood of society.