The Minister of Economy, Sergio Massa, spoke this Saturday about the plan that seeks to pesify the debt of public organizations with the aim of narrowing the gap between financial dollars and the blue. In radio statements, the president indicated that the swap is “an ordering of the public debt of the state”.

At the same time, he assured that this represents lowering public accounts by approximately 4 billion dollars in foreign debt. “We transformed it into less Argentine foreign debt. And we stopped listing in the bond trading system,” he claimed.

Also read: Given the shortage of reserves, Massa points to ANSES dollar bonds

Regarding Anses, the minister said that there are two issues to take into account: “anses earns 2 billion dollars with this operation. This profit increases the funds of the guarantee fund that will be assigned to loans for retirees and productive loans. In parallel, make the decision that the UBA make an opinion to find out if it is beneficial for anses, if it determines that it is not beneficial for the Anses, it will not intervene in the exchange“.

Massa explained that there were 113 public bodies that “in a disorderly manner, sometimes to the detriment of the State” They managed the purchase and sale of public securities in the secondary market. And he pointed out that this situation “andIt is a problem for an economy that needs order in its public accounts” and that he took away “capacity for action and stabilization of the State”.

That is why the measure will allow “guarantee certainty” and win “transparency”, solving a “dissociation between economic policy and the participation of the public sector in the secondary market” Massa said. And he explained that “As of the measure, the organizations will not be able to buy and sell bonds at their discretion in the secondary market. They are going to have to do it under a program and under the rules of the capital market by Byma and MAE”.