The presidential spokesperson Adrián Ravier took a path that any communicator should avoid when speaking to the Argentine public: mention how much the dollar could go. Even though it is only a hypothesis when talking about whether or not there is an exchange rate delay in the economy.
The official maintained that, if there were an exchange delay as some economists say, it would not be very large, as happened in 2002 or during the government of Mauricio Macri. And, in that context, he assured that “the dollar being at $1,800 is a possibility.” Today it is trading at $1,510.
Ravier stated that currently there is stability and that “there are no possible tremors as has happened in recent Argentine history at various times,” although he did not rule out that “later a bad harvest, or a drought or flood could hit you.” It was at that moment that they began to debate whether or not there is an exchange delay.
“Some analyst will say: ‘But you have an exchange rate delay, that can generate a correction.’ If there is an exchange rate delay, the correction that you may have at some point is minimal; it is not that you are going to double the exchange rate and that is going to sink your income; “You can have a minimal correction that will not have a significant impact on the pockets of Argentines.”
“When you look at what happened to Macrismo, I think they had an exchange rate of 15 pesos and it went to 60, they quadrupled the exchange rate; it would mean that today we went from $1,500 to go to $6,000 to reach something similar. If we go to 2002, where the exchange rate went from 1 to 3, it is like going from 1,500 to 4,500. Nobody see that scenario.”
“Now “That the exchange rate reaches $1,800 to $1,700 within a few months is a possibility”he pointed out, later clarifying that “the exchange rate stability is very clear, I don’t worry about that side.”
Ravier recalled that reserves are being purchased, there is a surplus in the current account, “there is a lot of good news that is not compatible with having an exchange rate delay, but on average looking at recent years, today you are a little bit down; if you had a correction, it wouldn’t be significant.
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