The Minister of Economy, Martin Guzman, and the Secretary of Domestic Trade, Robert Felettiheld a meeting this Friday with the staff of the International Monetary Fund (IMF) after the start-up on the eve of the new program Prices Care that seeks to set an anti-inflationary anchor.
“Inflation is a problem for the functioning of the economic system and we must solve it,” Guzmán said, after which he remarked that “the national government is working on it based on a comprehensive strategy” to attack the structural causes.
Guzmán highlighted that the Care Prices program “constitutes a important element for what is the process of attacking the inflationary phenomenon in Argentina”.
In addition, the head of the Palacio de Hacienda emphasized the importance of “having price-income policies that guarantee that real wages can increase at the same time that inflationary expectations calm down.”
“Inflation is a problem for the functioning of the economic system and we must solve it.”Martin Guzman
Along these lines, the minister maintained that “it is very important attack the issue of expectations in a society that got used to living with inflation”.
The importance of Prices Care to reduce inflation
“With Roberto and the IMF today we talked about the importance of what this process wasGuzman added.
The official remarked that “the fact that an agreement was reached with more than 150 companies on more than 1,300 products gives more sustainability to what was achieved, and that it will serve as one more element to anchor expectations.”
next to the president @alferdez, The ministers @KulfasM Y @Martin_M_Guzman, the undersecretary @Laura_Tuero and Karen Vizental of @UnileverArg, we announce the start-up of the new stage of the +Care Prices program. pic.twitter.com/piroIsXvrE
— Roberto Feletti (@RobertoFeletti) January 14, 2022
For his part, Secretary Feletti affirmed that “the opportunity to expose this type of anchor or anti-inflationary strategy to the Fund staff of a basket of 1,321 products that is regulated, that can be reviewed quarterly, constitutes an important advance in what it is the set of measures that must cover the fight against inflation”.
The government aims to reduce inflation
This Thursday, the president Alberto Fernández affirmed that “the fight against inflation is a central issue” because with the increase in prices “the one who suffers the most is the one who earns the least”.
The head of state launched the new Care Prices program, during a ceremony held at Quinta de Olivos, which was attended by the Ministers of Economy, Martín Guzmán; Productive Development, Matías Kulfas; and the Secretary of Domestic Trade, Roberto Feletti.
In this context, Fernández emphasized that “inflation is not the result only of the monetary issue but of many aspects that range from the psychological to the monetary, something that has been recognized by international financial organizations.”
“We have a slightly clearer horizon because Argentina needs to grow and develop in equal conditions and for those who live on a salary, the fight against inflation is a central issue,” added the head of state.
