Agustín Etchebarne: “They are selling the family jewels.”

Photo Agustin Etchebarne
Agustín Etchebarne
General director en Libertad y Progreso

Economist specialized in Economic Development, Strategic Marketing and International Markets. Professor at the University of Belgrano. Member of the Liberal Network of Latin America (RELIAL) and Member of the Institute of Ethics and Political Economy of the National Academy of Moral and Political Sciences.

EL LIBERALThe economist Agustín Etchebarne, from the Libertad y Progreso Foundation, maintained that “Massa’s new measures are showing the signs of drowning.

"Given the difficult condition of Argentina's Treasury debt, that prevents the placement of bonds in dollars abroad, and the problem of a Central Bank deranged with a remunerated debt that is already equivalent to 221% of the monetary base, that is to say, of the total number of banknotes and coins that exist in Argentina, it eliminates these two financing possibilities or complicates them a lot because we can end up in hyperinflation either by printing banknotes or by taking on debt and that cannot be done outside, and only the debt remains in pesos”, he exposed in dialogue with EL LIBERAL.
"And this is aggravated - he continued - by the drought that is going to reduce the amount of dollars that should enter Argentina from the countryside by 20 billion or more."
In the face of these situations and accelerating inflation, they are looking for any way to try to eliminate the possibility of this getting out of hand. In this case, it is literally selling grandma's jewelry because they are selling bonds that they have in the guarantee fund for ANSES retirees, at the lowest price they have today in the market. It will generate a very serious problem, because we are selling bonds for less than 30 cents, which should be completely illegal and they are going to do it through a government DNU," he warned.