The Minister of Economy, Luis Caputogave a speech at the Rosario Stock Exchange that has caused a great stir in the political and economic sphere. During his speech, Caputo not only made a nod to President Javier Milei, but also launched criticisms at his fellow economists and offered a preview of the dollar exchange rate, issues that have captured the attention of analysts and citizens alike.
Luis Caputo He began his speech by highlighting the achievements of Milei’s government in its first months in office. He stressed that inflation is beginning to decline, mentioning that the wholesale index for August was 2.1%, a figure that he considers encouraging.
He also stressed that the economy is showing signs of recovery in several sectors, which he attributed to the policies implemented by the government. The Minister He also referred to his experience in the private sector, indicating that the economic plan he designed in his consultancy firm is being fulfilled as planned.
In this context, Caputo mentioned that he has received numerous calls from former Ministers of Economy who praise the measures adopted, stating that “what the country is doing will literally go down in history.”
One of the highlights of the speech Caputo was his criticism of economists who advocate a devaluation to gain competitiveness. The minister expressed his frustration with these approaches, describing them as simplistic and counterproductive.
“It puts me on the verge of a bad mood when I hear economists say that. Is the experience of the last 100 or 20 years not enough for them? Can anyone really be so stupid as to make people believe that the way to gain competitiveness is by devaluing again?” Caputo questioned.
New dollars
Instead of a devaluation, Caputo He advocated tax reduction as a way to make Argentina’s economy more competitive. He stressed that the country has had eight consecutive months of fiscal surplus, which he considers a significant achievement and a necessary step to strengthen economic stability.
Regarding the dollar exchange rate, Luis Caputo offered a preview that has generated expectations in the market. The minister said that the relationship with the International Monetary Fund (IMF) is “very good” and that the ninth and tenth reviews of the financing program, corresponding to the months of June and September, are pending. These reviews could be conducted jointly, allowing the government to assess the possibility of applying for a new IMF programme.
