The “Dollar Storm” plan announced by the Government It represents a bold and multifaceted economic strategy to face the country’s exchange and macroeconomic challenges. This scheme seeks to reduce the price of the official dollar to 1,000 pesos, accumulating reserves and controlling inflation, in a context marked by political and economic tensions.
The exchange rate appreciation is a central axis of this plan, designed in collaboration with the International Monetary Fund (IMF). According to the signed agreement, the Government You must acquire approximately 5,000 million dollars before June to meet the stipulated goals.
This objective is aligned with the need to stabilize the exchange rate and prevent inflation, which in March reached 3.7%, triggers even more in April, where it is projected that it could exceed 4%. The exchange band scheme implemented by the Central Bank It establishes an intervention floor in the 1,000 pesos, which means that the entity will not intervene in the market before the dollar reaches this level.
This decision seeks to generate confidence in investors and avoid speculative pressures that could destabilize the market. In addition, the entrance of currencies from the IMF and the World Bank, which added $ 13.5 billion in 48 hours, has acted as a retaining wall around 1,400 pesos.
The strategy also includes measures aimed at the agro -export sector, key to the Argentine economy. The President Javier Milei He urged the field to liquidate exports quickly, warning that withholdings will be increased at the end of June.
Although there are doubts about whether the liquidation will reach the estimated 25,000 million dollars, due to the drop in the price of soybeans and a less competitive exchange rate, it is expected that between April and May there will be a significant liquidation that contributes to the appreciation of the weight.
Components
Another relevant component of the plan is the reopening of the single change market for foreign investors, with the condition that they remain at least six months in the country. This measure of the Government It seeks to attract short -term capitals and stabilize the exchange rate during the legislative electoral period.
In this context, Bank JP Morgan recommended investing in bonds in pesos, taking advantage of a scenario of rise and dollar down. However, the plan “Dollar storm”Raises questions about its impact on production and tourism. A cheap dollar could benefit importers and consumers, but it could also affect the competitiveness of exports and the entry of foreign exchange for tourism.
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