The former Minister of Economy Hernán Lacunza analyzed the current situation of the dollar and the challenges facing the exchange rate in Argentina. He warned about the complexity of determining the equilibrium exchange rate and pointed out that even the Government is uncertain about it. He emphasized that no one will lend money to the country for it to be sold cheaply and warned about the constant outflow of dollars from reserves, which has not grown for eight months.
Lacunza stressed the need for a long-term exchange rate policy not based on short-term decisions. He criticized the Government's reaction to dissent and pointed out that in public administration, everyone pays for mistakes. Regarding the value of the dollar, he mentioned that Argentina is overpriced in dollars, which hinders the country's competitiveness at the international level.
On the other hand, Lacunza highlighted the importance of a possible agreement with the International Monetary Fund to lift the exchange rate controls. He considered that the IMF has the capacity to condition a new economic program for the country and that the Government will not be able to lift the controls without its support. He also referred to the negative dynamics of reserves and how it influences their accumulation.
Furthermore, the former official mentioned the difference in local prices in dollars compared to other countries and analyzed the impact of tourism abroad on the Argentine economy. He emphasized the importance of listening to diverse opinions and maintaining a long-term focus in economic policies.
