The Minister of Economy, Sergio Massaannounced this Friday the implementation of a new special exchange rate to A$230 for soybean and derivative producers as of Monday and valid until December 31 of this year. This is the same mechanics of the “soybean dollar” applied in September that stipulated a preferential value of A$ 200 per US bill.
The measure was communicated this afternoon by the head of the Palacio de Hacienda, who convened this afternoon the grain, poultry and dairy export sectors to inform them of the final figure to be decreed, which hours ago was stipulated at A$225. the publication of a DNU at the beginning of the next business week.
The measure aims to increase the reserves of the Central Bank through the greater settlement of foreign currency, given that during the month of November the monetary authority accumulates sales of US$ 987 million.
Under its term, the government estimates a minimum income for the public coffers of US$ 3,000 millionwhich is part of a commitment signed by the Chamber of the Oil Industry (Ciara), as they officially declared today.
In addition, Massa stated, the amount will be used for investment in different areas and specific purposes. “During the first quarter of the year, we are going to use part of the resources to generate a mechanism to boost exports,” he said in a statement issued by the Ministry.
“We have the objective that the greater resources that we accumulate in December, serve us during the months of January, February and March to face a program of reduction of withholdings in the regional economies in order to make them more competitive in terms of exports”, marked the minister.
Among the specifications, Massa listed that the start-up of a circle of assistance for the dairy, pork and poultry value chains will be addressed; as well as in the progress of a withholding reduction program in the regional economies and a scheme to guarantee the validity of social benefits in case there is a good performance of the soybean dollar.
Source: The Chronicler
