his definitions on debt and Fernandez’s economy

Carlos Melconian evaluated the progress of the government negotiations for the debt restructuring. Suggested a change in official stance

The economist Carlos Melconian assured that if you want to avoid a default, the Government will have to “ignore” some things and “lose the shame of running downtown” offering an improvement to external creditors.

If they are going to say that they do not withdraw capital or that if Argentina grows it will share that growth, all that is show. Here, if you have to raise the price of what you have offered, you are going to have to go back on some of the aggressive things that the offer has, “said the economist on Tuesday.

He indicated that those changes that could convince the bondholders They are around paying in the first three years that the country asks for as a grace period, capitalizing the coupons and in parallel raising the coupon.

Argentina, which has eight defaults on its head, cannot coercively try to pay an average rate of two and a half lifetime“Melconian said on Radio Miter and clarified that he is not working or representing any creditor in the country.

Debt and the shadow of default

On the other hand, Melconian maintained that he has made his “blunt differentiation from day one with borrowers”But now the policy is due to the discussion that in order not to get Argentina into debt, you have to have balance in the treasury.

Melconian points out that in order not to continue indebting the country, it is necessary to achieve fiscal balance.

“From last night’s report by the president (Alberto Fernández, on C5N) I am left with the phrase ‘nobody wants the default‘. I cannot comment if we are behind a strategy, because I don’t know that. I do know that the intellectual exercise that Argentina had put on the table was a no-brainer that was doomed to failure, “he said.

Melconian insisted that “what is needed are not touch-ups on the margin or saying we do not take capital or put a sweetener, because those are little things of low impact. To raise this dead there are things of high impact, such as payments in the first years and capitalization, technical details that are not better. Argentina needs speed, it needs a strategy. ”

“I have the impression that there is time, but you have to have a strategy, act quickly. You don’t have to pretend to be the San Martín of the debt,” he said.

Melconian criticized the government's intransigence in negotiating the debt.

Melconian criticized the government’s intransigence in negotiating the debt.

And he added: “They stopped so much at a point of want to cross the Andes to San Martín Now they have to go see how they fix this waste. They have to lose the shame of running to the center on this issue. ”

Economy, crisis and pandemic

On the other hand, Melconian evaluated the impact of the coronavirus on the predictability of the economic evolution. “In the midst of the pandemic, let’s not ask for a program. The only thing there was was to say: well, now we have to get out of this problem avoiding the collapse. But the most relevant issue of this management is the micro issue and the focus on what comes. However, after 50 days, those continue to appear who did not receive the $ 10,000 or wages, “he said.

“This is going to turn out silver and it is going to be a lot of silver. Let’s use it well, but let’s not use it when challenging it. You have to be very precise where and how much you put. The truth is that we are on the way to sterilization in the second part of the year, “said Melconian.

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Written by Argentina News

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