The Minister of Economy, Luis "Toto" Caputo, projected that Argentinians have about 200 billion dollars saved and reiterated that, with a series of measures to be announced in the coming days, he will seek to mobilize part of that capital to boost economic growth.
Caputo spoke this Thursday at the 11th edition of the Latam Economic Forum, held at Parque Norte in the City of Buenos Aires. During his presentation, he emphasized that the country is experiencing a stage of stability "unprecedented in history," valued the initial achievements of the economic plan of the Government of Javier Milei and confirmed the intention to advance with the remonetization of the economy, both in local currency and in dollars.
The official spoke before an audience of more than a thousand attendees, at a charitable event organized by Research for Traders. Referring to remonetization, he indicated that currently the financial system presents very low liquidity levels, a result of the initial scheme of the economic program, aimed at contracting the monetary base and thus reducing pressure on the exchange rate. According to his analysis, this scenario must be gradually modified to promote sustainable growth of credit and consumption.
"The economy is healthy. When nominality decreases, the interest rate drops, the demand for money rises, and that allows credit to recover," he explained. He also emphasized that the remonetization process could occur in pesos if the dollar value reaches the floor of the exchange band, which would allow the Central Bank to buy foreign currency and issue backed by those purchases.
