The Government will prevent the purchase of the “savings dollar” to people who continue with the subsidies in electricity and gas rates

The subsidies would fall into the same category as the IFE and the ATP, two State aids that left their beneficiaries outside the exchange market. (Robert Almeida)

Government It will prohibit electricity and gas users who have completed the procedure to have tariff subsidies from having access to the “savings” dollar. In this way, it will extend a restriction that those employees who received their salary through the ATP program or who were IFE beneficiaries already have.

The official intention responds to regulations already in force issued by the Central Bank. During the pandemic, the injection of pesos that the Emergency Family Income (IFE) payments represented, the payment of part of the private salaries through the Work and Production Assistance program (ATP), plus the financing lines to zero rate or subsidized moved the entity led by Miguel Pesce to limit access to the foreign exchange market of the beneficiaries of such programs.

The enormous monetary issue required to finance these programs, it was understood, should not reach the formal exchange market and gradually erode international reserves.

The beneficiaries of the IFE and the ATP had been left out of the solidarity dollar in 2020

Thus, the segmentation of subsidies generated a similar situation. Those who complete the form that the Ministry of Energy has online are voluntarily requesting assistance from the State to pay their electricity and gas consumption. It should be remembered that the Government decided to continue with the registration beyond August 1, which was the cut-off date stipulated at the time.

It is understood, along these lines, that Based on the segmentation, the beneficiaries of subsidies will be in a situation similar to that of those who received aid from the State in the past. And for that reason they should be left out of the possibility of buying the USD 200 per month, according to official sources Infobae.

However, from the intention to the application there may be a distance. And this is because applying this restriction requires quick access to the beneficiary database for the financial system.

In the case of the IFE and the ATP, the CBUs of these beneficiaries were within easy reach of the Central Bank. Now, in order to prevent the access to the foreign exchange market of the beneficiaries of energy subsidies, the financial system should have access to these new data.

To implement it, it will be necessary to sign an agreement between the Central Bank and the Ministry of Energy that allows data to be crossed.

For that, it will be necessary to sign an agreement between the Central Bank and the Ministry of Energy that allows data to be crossed.

Among those prevented from accessing dollar savings today are the employees who received their salary through the ATP program during the pandemic and the directors and shareholders of those companies, who received the Emergency Family Income (IFE) from the State, people who have credits to Zero rate until the end of their installments, in addition to beneficiaries of social plans such as the Universal Child Allowance (AUH), the Food Card and Work Enhancement, among others.

Also those who operate financial dollars (bonds with foreign currency either with the MEP dollar and counted with liquidation (90 days before and 90 days after trying to access the solidarity dollar), citizens without stable income, holders of refinanced credit cards, holders of UVA credits and holders of shared accounts, among other cases.

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