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The Meeting Validates Reports That The Elected President Is Distancing Himself From Advisors Who Support His Most Drastic Campaign Promises, Which Suggests A Shift In Government Policy. This Move Could Have Significant Consequences For The Future Of The Country.
An Argentine banking association representative, Adeba (Asociación de Bancos Argentinos), informed Bloomberg News that the meeting was extremely favorable and resulted in a market-friendly approach to the central bank’s debt.
A representative of Javier Milei declined to comment on the subject.
Caputo’s statements seem to confirm that Javier Milei is distancing himself from advisors who support his bolder campaign promises, including abandoning the Argentine peso and closing the central bank. Milei has also distanced himself from his dollarization mentor, Emilio Ocampo, and on Friday another early campaign advisor, Carlos Rodriguez, announced on a social network (formerly Twitter) that he would also not be part of the government. Investors, who initially celebrated Javier Milei‘s victory in the presidential elections on November 19, continued to drive up the prices of Argentine assets as the elected president shows signs of moderation.
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The New Government Of Argentina Will Maintain Currency Controls, Says Member Of Javier Milei‘s Team
The elected president of Argentina, Javier Milei, will not suspend currency controls immediately upon taking office on December 10, while maintaining dollarization as a medium-term goal, a central team member informed bankers on Friday (24), according to two people familiar with the discussions.
Luis Caputo, who is leading Milei’s economic team during the government transition, told bank executives in Buenos Aires that the focus of the new government will be to achieve a fiscal surplus in 2024, the sources said on the condition of anonymity. The meeting, which the Wall Street veteran used to present the main outlines of Milei’s economic plan, included about 30 people, including consultants and officials from the banks, the sources added.
Source: InfoMoney
