They warn about the risk of the "mountain" of Leliq

The Central Bank "lacks genuine income to meet the interest payments generated by" the stock of the Liquidity Letters (Leliq), a private report warned today.

An analysis of the Center of Studies of the New Economy (CENE) of the University of Belgrano warned that "the mountain of Leliq represents 79% of the monetary base".

He considered that "just as it happened with the Lebac, at some point the Leliq must be disarmed."

The director of CENE, Víctor Beker, said that "the Liquidity Letters used by the Central Bank, as of August of last year as a central monetary policy tool, paying high interest rates to become an attractive attractant against the dollar , were a worse remedy than the disease. "

"The bottom line is that the governing body of the banking system lacks genuine income to meet the payment of interest generated by that stock," he said.

Thus, he said that "interest is financed by placing more Leliq" and warned that "its stock grows like a snowball."

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