(CNN Radio Argentina) – Economist and Economic and Business Consultant, Salvador de Stefanoanalyzed in CNN Radio Economic Panorama of Argentina: “The scene will be retrograde.”
“I understand the dollar will continue to rise”Di Stefano said CNN Primera Manana, with Pepe Gil Vidal. In turn, he described the money issue as a “stream that floods different areas”. And even if the dollar rises first, there are other assets with more room to rise. “Any instrument linked to the commercial dollar has more upside potential than the blue dollar”he added.
He also did not rule out that the North American currency could reach a thousand pesos on election day: “This is possible because if you take all of the Fed’s monetary liabilities and divide them by reserves, your target price is 1060.”
He also warned that only five million tons of soybeans and eight million tons of corn are available for sale; Therefore, there are not many ways to earn real dollars in exports. “With reserves not growing and monetary liabilities increasing by 10% month-on-month, central bank weakness is evident.”
Regarding the central bank, he criticized the rate increase: “This institution does not surprise anyone, if it increases the rate, it will do it late, because it should have been done last week to prevent the exchange rate from going out of control.”
Finally, Di Stefano condemned the electoral uncertainty and its effects on the economy: “It’s confusing to give you three candidates, because the higher the dollar, the better,” said Miley and proposes dollarization. Melkonian also points out the weakness of Sergio Massa’s economic plan. And Massa gives money to everyone in a Santa Claus manner. And without a real counterpart.
“We are literally 62 eternal days from an effective change of government, with results and a new economic plan on the table. Race is to leave the peso somewhere, whether it’s a good, property or dollar bill. In this scenario, inflation and the rise of the dollar are coordinated.”The economist decided.