Javier Milei on the dollar: “There is no sense in accelerating the rise of the official exchange rate.”
he president addressed economists advocating for accelerating devaluation.
The President of Argentina spoke about the official exchange rate and reaffirmed a policy of a 2% monthly devaluation. He also analyzed the decline in wages and inflation.
President Javier Milei spoke about the evolution of the official exchange rate and confirmed that the crawling peg continues at 2% per month. “It makes no sense to accelerate the rise of the official exchange rate,” he said in an interview on Friday, reaffirming his economic plan.
The president addressed economists advocating for accelerating devaluation, stating, “They are absolutely wrong. Why should I increase the exchange rate today if the parallel rate matches the official rate? What nonsense is that?”
In an interview with the US media outlet Bloomberg, the President pointed out that “salaries are miserable” not because of the libertarian administration but due to “20 years of populism.” He further stated, when asked about the short-term social and economic consequences of the reforms being carried out, that there has been a “cultural change” in Argentina.
Milei referred to the decline in real wages since December 2023. “From our point of view, there has been a cultural change in Argentina. Most people understand that populism is not the solution. Today, salaries are miserable not because of us, but as a consequence of 20 years of populism,” he explained from the Casa Rosada.
Furthermore, he stated that the government is in the process of initiating negotiations China to allow inspection of the space station located in Argentina but has Chinese governmental control. In the interview, the president affirmed that “giving up on China is difficult, even for the Argentine anarcho-capitalist.”
Regarding the currency swap in the Argentine Central Bank, Javier Milei maintained that they are “commercial agreements between private parties” and that he has no intention of modifying them. “Just as we have a counterpart in our central bank, they have their counterpart in their central bank. Therefore, that is not a problem either,” he assured.
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