For the president of the Central Bank, the worst of the credit delinquencies is over and the system “is healing”

Thus, the official downplayed the jump in delinquencies, which according to the Central Bank’s own data, It escalated in February to 11% in the case of family debt.

For the official, “Banks have already seen the peak of bad debts, so the financial system is healing. There are encouraging signs in the March and April data that the impact of defaults “he is losing weight”.

“There are encouraging signs regarding the recovery of credit. The level of deterioration in portfolios slows downand the information anticipated in March and April shows additional improvements,” he indicated.

In his speech, Bausili pointed to banking entities. “Banks had to rebuild their scoring systems and there was a first wave of loans that were granted blindlywithout knowing who the money was being lent to. When the credit returned, the default appeared.”

At the same time, he also mentioned the role of credit takers: “For the debtor, inflation took care of the last installments of the credit in pesos. No longer“. With this he alluded to the fact that with the decrease in inflation, the “liquefaction” effect on debts that was in force during previous years is diluted.

Furthermore, Bausili maintained that the rise in inflation, which rose 3.4% in March and accumulated 9.1% in the first quarter, is a “shock transitorio”.

“Among the negative aspects, It is clear that the price index increased more than desired, and that, at a general level, it could be indicated that there was a change in trend in the monthly inflation level. “We believe this is temporary,” he stated.

“There was a jump in prices as a result of the drop in demand for money last year, combined with some changes in relative prices. Market expectations remain well anchored and also point to a disinflationary process ahead.“, held.

“Meat shows significant month-on-month increases since November of last year. “High-frequency measurements show that in April this trend could have reversed.”he mentioned in line with the data handled by consulting firms that follow the evolution of inflation weekly.

The president of the Central Bank noted that monetary policy will continue to focus on bringing inflation “to international levels.”

“Exchange policy is out of the question and a window opens for remonetization,” said Bausili in his brief presentation, in the same conference that this afternoon will have the President of the Nation, Javier Milei, as the last speaker.

Bausili also mentioned the exchange rate and He highlighted that there was no transfer to prices of the recent movements of the dollar.

“It is important to highlight that the movements in the exchange rate, which in the last year experienced changes in the regime – with the exit of the stocks, the float between bands, the elections and a geopolitical shock – did not have an impact on the prices of goods. This is a very important milestone for an economy as bimonetary as ours.“, held.