Por Miguel A. Kiguel
Todos sabemos cómo funciona el cepo, y hemos aprendido a vivir con tasas de interés reales negativas, a usar el dólar Contado con Liqui para eludir los controles...
Better late than never
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Better late than never
First week
September 2019
The government finally decided to introduce new regulations to the FX market in order to stop the fall of international reserves in the Central Bank. We believe that although the timing is inappropriate, these regulations are necessary in the current context. Our opinion is that the government should have considered these measures before last week’s reprofiling, which also aimed towards saving international reserves. The government is yet again paying a political cost, but it contributes towards maintaining the reserves’ level keeping the next government in mind, together with its own ability to hold things together until the year’s end.
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