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...
Rates Go Up and Down on a Flimsy Architecture
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Rates Go Up and Down on a Flimsy Architecture
Fourth week
January 2023
The government's main concern is clearly the value of the market dollar; the informal, the MEP and BCS. Beyond the monetary illusion that invades society and that makes possible headlines such as "Dollar price hits record", the truth is that the government is uncomfortable with the informal rate approaching 400 pesos and the blue chip swap above 360 pesos. There are two reasons for the discomfort: on the one hand, it clashes with the image that was forged by the Minister of Economy Sergio Massa, "the magician" who solves problems and endures. On the other hand, an uncontrolled dollar is synonymous with inflation and potential crisis.
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