in this news
- The alternative to the fixed term proposed by Massa
- credit measures
The Minister of Economy, Sergio Massarevealed that he works together with the National Securities Commission (CNV), the governing body of the Argentine capital market, in instruments that can replace the fixed termthe tool for savings in pesos most used in the country.
As detailed in a report with Horacio Verbitsky in The Rocket to the Moonthe Palacio de Hacienda is in talks with the head of the CNV Sebastián Negri, with the team of the Undersecretary of Public Revenue and the Secretariat of Financing to promote investment lawsas of expand the credit capacity of final consumers and companies.
Fixed term with inflation of 5.1% and a firm BCRA with the rate: which option is the most convenient for savers
Massa: “Reducing inflation requires fiscal order and discipline”
Too often the main focus of the Ministry of Economy is to focus policies that allow a expansion in the “access to credit for the people”, objective that he placed even above the drop in inflation and the recovery of income above inflation via parity.
The alternative to the fixed term proposed by Massa
The Minister of Economy maintained that he seeks to “break this culture of dollarization” through the future generation of “investment instruments associated with goods” produced in Argentinasuch as tools tied “to gas, corn, copper, with savings and investment instrumentswhich can be a guarantee for the saver who deconfies the financial system”.
When cross-examined by the journalist, Massa exemplified: “Let’s say, copper stock or corn, which in some way has the capacity to become virtuous in terms of generating internal savings. Argentina has a very low internal savings rate.
The Minister of Economy, Sergio Massain the announcement of the Productive Strengthening Program for the countryside.
In a report granted to Facundo Chvez de infobaealso published this Sunday, alluded to the attempt creation of savings instruments in goods that “allow instead of not knowing what to do with the pesos, people can save on oil, they can save on corn, they can save on soybeanswith instruments that in some way give it value protection, in terms of taking care of its money, but also that give it anchorage to the real Argentine economy”.
In the same way, Massa asked to remark that from the economic management they should talk with the financial and financial associative system, as well as with the electronic payment companies to generate greater credit capacities.
“Mechanisms have to be found to improve the credit capacity of the economically active population of Argentina because, ultimately, credit against the product of its population in Argentina is still very low and credit is important for consumption, but also to improve the standard of living of the worker”, he added.
credit measures
In previous months, the Economa portfolio announced measures such as the extension of Now 12 with a fixed rate for the consumertogether with the inclusion of the cell phones to the list of items that can be financed with that program.
“The growth of cell phones and footwear December against November, gives a growth of almost 40% of consumption seasonally adjusted. Obviously, What Argentina has is a problem to solve, which is to improve the volume of credit against the products of its consumers and its companies.“, he said in an interview given days ago with Jorge Fontevecchia in Perfil.
“Argentina is the only country where, as the stocks are not penalized,” remarked Massa in that same report, to later explain that “this limits our production volumes, and generates an economy that is not really one of supply and demand for goods, but of demand and supply. That is, the volumes of production are very tied to the demand or consumption capacity of the citizenand prices are also very tied to that capacity”, he concluded.