Bausili Said that the Accumulation of Reserves Will Not Be with “an Artificially High Dollar”

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“The pace of accumulation of reserves will be defined by the process of remonetization, and not the other way around,” said the president of the Central Bank, Santiago Bausili, who insisted that foreign exchange purchases by the entity will not be through the current account. “Until the productive structure of the country changes, the accumulation of reserves will occur in a virtuous cycle of development, and not with an artificially high exchan…

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The president of the Central Bank (BCRA), Santiago Bausili, anticipated that the government will not accumulate reserves endorsing an “artificially high dollar” or measures that could jeopardize stability. Instead, he proposed that the process will be tied to growth and “remonetization of the economy.”