Cachanosky relativizes the importance of being an “emerging market”

 Panam Post – The announcement, which was made by the Government with drums and cymbals, for Cachanosky is necessary but will not mean an instant revolution.

For the economist, the Government takes for granted the possibilities opened by the window of being “emergent” (Youtube).

In recent days the most important Argentine media were pessimistic. All the “sources” consulted considered that it would be repeated last year’s story and that Argentina was going to stay with the desire to be “emerging market”.

However, the MSCI (Morgan Stanley Capital International) gave the good news and the country left behind its “border” status.

But the news, which was announced as a great achievement by the Government of Mauricio Macri, for the economist Roberto Cachanosky is not a reason for such a celebration. “Tomorrow the baker José, when he lifts the blinds of his business will not sell 10 more kilos of bread. The announcement indicates that the country left behind an error committed by the Kirchner. Not much more”.

Official celebrations

President Macri, who had been questioned yesterday for missing the traditional celebrations for the Day of the Flag in Rosario, had his announcement to raise the profile and warned that the reclassification indicates that the world considers that Argentina “is doing the things well. “

“This is the result of a 30-month work to bring the country on the right path to recover the status we lost in 2009, when we were considered a border market, limit, by the application of economic policies that led to isolation, stagnation and distrust among investors, “said the leader of Cambiemos.

For his part, the Minister of Finance, Nicolás Dujovne, celebrated the measure in social networks and said that the qualification of “emerging” is synonymous with “cheaper capital” and “more growth and employment for all Argentines.”

Regarding the minister’s words, Cachanosky, in exclusive dialogue with the PanAm Post, said that the reclassification “could” bring the advantages that Dujovne says, but that this depends on other questions: “I should use the conditional, since being emergent opens the door to these possibilities, which now have to be achieved,” he said. .

“All this started in 2009 during the kirchnerismo, when Martín Redrado implemented a regulation that had restrictions for the movement of capital. Logically, then with the control of changes, the situation worsened. For these issues, nine years ago we became known as border. According to the statement, from now on, investment funds can choose Argentine shares, but it should be noted that this applies only to those listed abroad and not in the local area. The report also warns that if the government re-implements the restrictions, it can return to the border category. It does not say more than that,” Cachanosky said.