Miley warned delegates that he would veto any project that would upset the fiscal balance
chairman xavier miley threatened with veto any project He “attacks” his objective to achieve fiscal balance. Thus he delivered a strong message to legislators, speaking at the 41st Annual Congress of the Argentine Institute of Finance Executives (IAEF) in front of an auditorium packed with financial executives. They celebrated his jokes and asked him for selfies, At the Buenos Aires Convention Center.
“I will tell you. Whatever project they send from Congress, which I want to break this box and blow up this country, I’m going to veto this. I don’t care. Obviously, they are going to do this for electoral purposes,” were his emphatic words.
Miley seemed spontaneous and at her purest: She listed the facts, figures and accomplishments of her administration, she took aim at opponents and critics and, with the exception of former Commerce Secretary Guillermo Moreno, He did not reveal anyone’s name or surname.
He spoke about “dirty politics” and specifically mentioned members of the economic team, which makes him proud: Minister Luis “Toto” Caputo – He told the Finance Secretary, before his presentation. pablo quirno, and head of the Central Bank, Santiago Bausili.
Greeted by applause, the President announced that he would mention “the nature of money, the problem of the nominal anchor and”. Endogenous Dollarization”.
While talking about the barter model and the exchange of gold and silver during the time in which the novel “Zorro” is set, he mentions Spain and takes the opportunity to launch a new attack against it. Pedro Sanchez. “Just today I mentioned Spain. Anyway, I already have a match point for Pedrito, despite the media progress he launched.
He also pointed to the university march last month and said it had a huge turnout. Used by “Ghost Train”, In reference to opposition leaders. And, in the midst of discussion of a project to finance national universities, he speculated He will veto any initiative that disturbs the fiscal balance. “I don’t care about it,” he said. In this regard, the government had earlier announced an economic agreement with the National Interuniversity Council (CIN), which brings together rectors.
Later, faced debate base legislation in the senate, The libertarian president issued another warning. “If Congress doesn’t get me structural reforms now, I don’t care. I’m going to try it again. I’m going to try it as often as possible. And if they don’t let me pass it, the electoral blow we’re going to give them next year will change the makeup of Congress and we’ll pass all the reforms.”
And he added: “Not only that. We have 300 reforms of DNU. And I will tell you something. We still have 3,200 renewals pending. Sooner or later we are going to do them. I don’t care how much effort they have to put in to stop dirty politics. We are going to do this.”
In his presentation the leader of La Libertad Avanza (LLA) criticized the opponents Sergio Massa and Martin Loustau, Although without mentioning them with their own names.
“There were animals that said that The exchange rate was going to be $10,000. One said that if it was converted into dollars it would be $7000. Where was the person who created that account? Luckily, he got a few votes and disappeared. “He is one of the people with the most negative image,” he said, referring to former economy minister Alberto Fernandez.
Shortly thereafter, he said that “the person who created the bill also has a negative image,” and imitated the UCR senator when he timidly raised his hand in the Senate to vote in favor of the per diem increase.
In another segment, Miley expressed this The ruling party is “cleaning up the mess that other politicians have left behind since 1935.” He again insisted that the Central Bank must be abolished because “it causes harm,” and predicted that Argentina would embrace ideas of independence. “This is going from a small country to a big country,” he said.
Regarding the release of the shares, he stressed that he does not know when it will happen “The people will decide that,” and highlighted the actions of its officials in economic matters.
“When they said we were going to make this adjustment, they predicted it would be impossible. We got a little out of control. We wanted to adjust five (GDP points) and we adjusted seven. Within the first month of management, we generated surplus. And while we suffer a decadent frenzy of public spending,” he said.
Finally, he gave guidelines for the dollarization plan that he intends to implement in the future.
“To the extent that the economy grows sustainably and implies continued increase in consumption, The second aspect is that my demand for money is going to increase. What’s the problem if I have a fixed amount of money? The thing is that since I have a flexible exchange rate, the currency can appreciate,” he explained.
“And, as a result, one of the things that is going to happen is… how is the increase in demand for money in convertibility addressed? People sold dollars to the Central Bank and thus injected pesos. We were talking about that endogenous mechanism. But now we are not going to broadcast. Then how do we do this? “We are going to allow currency competition.”
He added: “Suppose now, to make it simple, that the dollar can be used. What would be the only way to monetize the economy according to the increase in demand for money? By individuals putting dollars into the economy. So what is going to happen? They will face a situation in which the peso will be fixed and there will be an economy that will grow and there will be more and more dollars. But the weight always remains the same. The weight becomes a museum piece. And when it’s very small compared to the dollar amount, we’re going to do dollarization. And there the weight will disappear,” he explained.
And he prophesied: “With dollarization, we end inflation forever, We take the knife from that killer monkey that is politics, they will no longer bother us with inflation, and we are going to work to make structural reforms so that Argentina, in 35 or 40 years, can once again become one. Power “.