president Javier Millay He said: “‘Kuka risk’ was Kirchnerism’s intention to beat everything, leading to a vision of the future, implying a significant rise in interest rates, and creating country risk relative to North American interest rates.”
Regarding a scenario with a maturity of USD 4.3 billion, Millais said: “What is important is that, as always, we intend to fulfill our stated obligations. We bought US$30 billion, but we also paid our debt in cash. Since we took office, the debt has decreased by $50 billion. Many private placements are also underway. “Argentina is now in a position to have access to capital markets.”
As long as Congress approves a zero-deficit budget, “sooner or later, interest rates will go up.” Collapse due to decline in country risk”the president said on a neural stream.
“We remain calm and believe there may be a waiting period given the developments in the world situation at this time.” an extraordinary session in which very important legislation is discussed; This is like a budget that includes zero fiscal deficit as a national policy. ”
Regarding the labor reform project, Millais said: “In recent weeks we have been hearing about what has or has not been done regarding the modernization of labor, but the truth is that this project was created by the Ministry of Economy and Deregulation and the Ministry of Labour. The project was only put together at Wednesday’s Cabinet meeting and today is in the Legal and Technical Secretariat in final preparations. So the media has been openly lying recently.”
Asked specifically about abolishing the monotax in the reform, Millais said, “The team is working on it. Response to tax reform and its relationship It is done as part of labor modernization. Reduces anxiety. Projects run when you need them. “The abolition of Monotribut is a lie concocted by the media to create a stir.”
“The media is the enemy of the government because we blocked their advertising.” And they feel free to say anything they can think of to smear and slander the people in government. ”
“By ending this package, which includes zero deficits and a presumption of fiscal impunity, we will modernize our workforce, reform our tax system, and reform our criminal laws. It will have a very significant impact on national risk, and we will be able to finance it at significantly lower interest rates. Some companies are now paying 8.5%.”
return to market
“Not only will they lower interest rates and extend contract terms, but they are also likely to be oversubscribed for the amount they are trying to raise on the market. Argentina’s market debt to product ratio is 25%, equivalent to 13 points of GDP in dollar terms. If you want long-term bonds, Argentina is a great business opportunity.Because it would be a longer period and would allow Argentina to take advantage of Argentina’s future improvements in brutal ways. ”
As with the IMF agreement, the Treasury can take over that debt and the central bank can write off the debt it has to capitalize it. We want to continue to improve the quality of central bank assets. Because it improves their solvency, lowers price levels and lowers inflation in the long run.
under development…
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