Milei Team Seeks to Contain Speculation Over Exchange-Rate Band

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00:00Is $20 billion a big enough bazooka?

00:03Well, I mean, imagine Argentina has an exchange rate band.

00:08The exchange rate is very wide.

00:11The bands are opening up as we move along, actually, pretty quickly.

00:16So Argentina is doing a transition to a floating exchange rate,

00:19very much, you know, as Israel did when they did their stabilization program

00:22a couple of decades ago, that they also had this opening exchange rate band.

00:27So I think Argentina is moving to a floating exchange rate regime,

00:32actually, pretty quickly.

00:33It has a very tight, as I mentioned, fiscal policy.

00:35It has a very tight monetary policy.

00:37There's no need to print money because the government doesn't have a deficit.

00:41So I think we should think about the answer to the question is yes.

00:46But the reason it's yes is because we're going to have a floating exchange rate pretty soon.