Juan Napolipresident of Banco de Valores SA and candidate for national senator for the province of Buenos Aires of La Libertad Avanza, the party of Javier Mileisaid today that they have already received offers of funds to dollarize the economy and that, on Milei’s instructions, they were presented to Emilio OcampoMilei’s main advisor on dollarization.
“They are astronomical figures, tremendously large,” said Nápoli, who organized the talk with businessmen that Milei will have today and which, he said, is not a “Counter-Summit” regarding the IDEA Colloquium.
Why doesn’t Milei attend the IDEA Colloquium? Nápoli was asked in an interview on Miter radio.
“It is his personal decision. I estimate that it will be a strategic issue,” responded the businessman and financier linked to the libertarian candidate. The particular thing about this year, he said, is that Milei leads the polls, but what we are doing is not a Counter-Summit: I put it together in June, well in advance. The idea was to bring together 50 businessmen, some of whom are personal friends and friends of the bank, to listen to him. But the call was overflowing. That’s why we extended the call to the capacity of the place: there will be 70 guests and open to the press. There are many people who came from Buenos Aires, who came to listen to him. But we do not intend a competition. I totally deny that this is a counter-summit. But if of 3 candidates, only the third goes (for Patricia Bullrichwho will speak at the Colloquium at the same time that Milei does so in a restaurant in Mar del Plata), we must look for errors within and not outside.
Asked about how the meeting with the financier went Dario Epstein held with financiers and bankers a little over a month ago in the US, organized by the Argentine Gerry MattoNapoli said that they had been surprised by the breadth of the call.
“If of 3 candidates, only the third goes (by Patricia Bullrich, who will speak at the Colloquium at the same time that Milei does so in a Mar del Plata restaurant), we must look for the errors inside and not outside”
“We were surprised by the turnout, about 80 people. And the length was almost 5 hours. Between all those who were there, they manage almost 1 trillion (million million) dollars. It was a harsh talk, like taking an exam at the Faculty, very complicated. The reality is that they are fed up with Argentina. They are tired of our serial defaulter history, want quick action and see problems with the transition.
Regarding the strong increase in the dollar in recent days, Nápoli clarified “I am not a forecaster,” but he painted a very dark situation. “We are very bad and what is coming is worse. Every time the dollar drops it is to gain momentum. The worst thing is the uncertainty. After the first round it will be necessary to see who goes to the second, with the particularity that one of the three candidates is the Minister of Economy. We may have a very complex situation, even more so after the first round.
“Whichever president is going to receive one of the worst inheritances that I can remember”
When they replied that if Milei wins in the first round, the transition could be even worse, because it would be very long.
“I understand that there is concern. “Whoever the president is, he is going to receive one of the worst inheritances that I can remember,” responded the La Libertad Avanza candidate.
Is it true that there would be a contribution of USD 30,000 million for dollarization? was the last question.
Napoli responded that he had been on a Zoom with Jamil Mahuad, the former president who during his term promoted dollarization in Ecuador. “He told us that dollarization can be done with resources, without resources or with a mix. We are talking about astronomical and monstrous figures. I have received two offers and what I did, on the instructions of Javier Milei, was to give them to Emilio Ocampo, so that he could analyze the seriousness of the proposals. And if possible, the collateral to put as guarantee. These are tremendously large figures and what is being done is analyzing them,” he concluded.