Economist Orlando Ferreres referred to the end of the currency control and suggested when the government might lift the restrictions. In an interview on Radio Perfil, Ferreres mentioned that there is a possibility that the currency control could be lifted before October. He explained that the acceleration of the International Monetary Fund loan could facilitate the exchange of the non-transferable treasury bills for IMF dollars, which would help improve the Central Bank's situation and address various points of the currency control.
Regarding the value of the dollar, Ferreres emphasized that it is likely to increase after the opening of the foreign exchange market and that there may be demand leading to a currency run as a result of the decision to lift the currency control. He stressed the importance of having sufficient reserves to cope with possible situations of high foreign exchange demand.
The economist also pointed out that the agreement with the IMF would facilitate the removal of the currency control by allowing for a stronger balance sheet for the Central Bank and the possibility of adjusting various aspects of currency restrictions, such as dividends and other capital transfers. Despite these projections, Ferreres did not rule out that the end of the currency control could occur before the elections, especially considering the elections in the City of Buenos Aires in May, which could accelerate the timeline for the liberation of the foreign exchange market.
