Milei calls for “urgency” in first measures and reserves the big announcements for this Tuesday

Concepción M. Moreno

Buenos Aires, Dec 11 (EFECOM).- “Urgency” was the word used by the president of Argentina, Javier Milei, to urge his ministers to implement the first decisions made at the cabinet meeting at the Casa Rosada (headquarters of the Executive), but decided to park the main economic announcements for this Tuesday.

The leader of La Libertad Avanza (far-right) spent almost twelve hours in the Government House, where he arrived around 8:20 local time (11:20 GMT) and where he left around 8:00 p.m. (23 :00 GMT) to return to the Hotel Libertador, which remains his ‘home’ and work office until the renovation work on the Quinta de Olivos (presidential residence) is completed.

The most anticipated news of these first days of government of the libertarian economist, the package of measures to begin his shock plan on the Argentine economy, will have to wait until this Tuesday the head of the Treasury Palace, Luis Caputo, offers his first speech.

This was what was revealed by the presidential spokesperson, Manuel Adorni, who made his debut before the national and foreign press, pointing out that “one of the main lines” of work of the new Executive is that “it will be strictly respected that we cannot spend more than what we have”.

“The battle is going to be fought in terms of economic growth and solving very structural problems that the Argentine State has in terms of fiscal policy. Spending more than what we have is over. The ‘there is no money (money)’ is not “It is a made term,” Adorni pointed out in reference to a phrase usually uttered by Milei, who took office this Sunday as the new Argentine president.

After the ministerial meeting, the review of all public administration contracts and the status of state personnel was announced, requiring public employees to be present.

“Not only was there talk of putting together a general inventory, but also an inventory of the status of all Administration personnel. Each and every one of the contracts will be reviewed, in order to find irregular contracts in each of the contracts. in force in the ministries and with the universities,” assured Adorni.

In addition, the spokesperson advanced some of the measures that the new Minister of Economy will include in the package of measures: “It will be in line with a strong tax cut, some expansion of social items and with a removal of privileges that President Milei gave the order to carry out urgently.”

However, he had previously pointed out about public workers that “the vast majority of people who work in the State are valid and necessary” and that what the new Argentine president seeks to “fight” is “the privilege” of so-called “militant employment.” “.

After all the ministers went to their respective headquarters to begin the task corresponding to each portfolio, Milei remained in the Casa Rosada – where he has already announced that he will not work as president, but will do so from the Quinta de Olivos.

There he received several international visits, such as a delegation from China, another from Japan and a group of businessmen from Brazil, with whom he held different meetings, about which no further information was released.

For his part, Minister Caputo crossed the street that separates the Casa Rosada from the Treasury Palace to meet on this first day with his team, with whom he prepared all the measures that he will announce this Tuesday.

Pending these announcements, the Central Bank (BCRA) decided to apply this Monday the prior compliance rule to all dollar demand operations carried out through the exchange market.

Argentine papers closed with the majority of increases, given the market’s expectation of economic announcements, while the Argentine country risk index rose 0.72%, to stand at 1,935 basis points.

In the official foreign exchange market, the price of the retail US dollar in the state-owned Banco Nación closed at 382.14 pesos for purchase and 462.39 pesos for sale to the public, while the informal exchange rate (‘blue’) It rose 1.01% to 1,000 pesos per unit. EFECOM

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