Will the president-elect withdraw from Argentine dollarization?
But now it turns out The president-elect may be reluctant to fulfill this promise. The Financial Times wrote about this on Friday.
The British newspaper points out this Professor Emilio Ocampo resigned from assuming the reins of the Central Bank. The economic historian and former investment banker was one of Javier Melia’s team. He was the one who called for the dollarization of the economy. He also authored a document on the subject that was presented to the candidate’s staff before the election.
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Emilio Ocampo was supposed to enter the bank after December 10, because then the politician would officially take over the position of president. His tasks were two. In addition to offering the dollar, the central bank was supposed to be closed. But now it has become known He will not do any of them because he will not take office.
The only reason Ocampo was supposed to be there (Central Bank – Financial Times note) is because of dollarization. An anonymous source told the Financial Times that he never intended to go to the central bank to implement someone else’s plan that he did not approve of.
Both Emiliano Ocampo and Javier Melia’s employees declined to comment on the matter.
Miley watering down her plan?
Last October, the politician claimed that the peso is currently worth “less than a poo.” This was announced on television He will “take a saw” and cut the state with it to balance public finances. He also announced widespread privatization.
However, in his final interview on Wednesday, he softened his stance significantly. He stated that although he liked the plan presented by Emilio Ocampo, there were several issues that needed to be taken into consideration before implementing it.
We need to see if the market situation allows for a solution like the one Emilio suggests, ie Whether he is ready to implement a plan different from the one he originally planned – Javier Miley said, quoted by “FT”.
The central bank will be liquidated
On Friday afternoon, the future president’s team posted a statement on X (formerly Twitter). And he confirmed that Closing the central bank is a “non-negotiable matter” Despite the “false rumors being spread.” But he did not mention the issue of currency reform.
Javier Miley did not clarify who his new presidential candidate would be. However, local media point to Demian Riedel. He served as vice president of this institution under President Mauricio Macri.
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