Buenos Aires Mayor Horacio Rodríguez Larreta presented his economic plan to the “red circle” of key business leaders on Tuesday at the dinner of the Llao Llao Forum, the event that gathers more than 100 important businessmen at the luxurious hotel in Bariloche. 

He acknowledged that he would not eliminate currency exchange restrictions immediately, said that he would promote a new monetary and exchange model, said that he would seek a labor reform and spoke of the “most important deregulation of the last thirty years”. 

In the back and forth with businessmen and women, Larreta stated that his economic plan has three pillars: “Stabilization, which is the great challenge to win back the confidence of Argentines and the world, the consolidation of structural reforms to improve productivity and a concrete development plan for strategic sectors”.

If elected, he said he would promote a new monetary and exchange model. “We are going to rebuild the independence of the Central Bank to put monetary policy in order and have a reliable currency again”, he said.

Like the rest of the candidates, the head of Buenos Aires City government took the opportunity to refer to foreign exchange controls, but acknowledged that he would not eliminate it immediately: “It will be gone as soon as possible. One dollar, clarity for all, transparency and predictability. But it would be hard for that to happen on day one”, he explained.

He dispelled doubts on a recurring issue, confirming that he would seek to undertake a labor reform. “We are going for modernization in the 21st century,” he said. “We will promote legal frameworks for new forms of work and put an end to the trial industry”, he added, referring to costly employment lawsuits.

He also joined the list of candidates who seek to transform social programs into employment, saying that social programs, known commonly as “plans”, have to “leave their welfare policy, they have to be a direct route to work and progress”. He also pointed to a tax reform to “face a progressive tax reduction”.

The Buenos Aires Mayor, a primary candidate for opposition coalition Juntos por el Cambio, insisted that “there are not 100 days, there are 100 hours” to take the first measures, surprising the audience by announcing that he would carry out “the most ambitious deregulation plan of the last 30 years”.

Nor did he fail to allude to the fiscal front, which he considered the main anchor of the program. “We are going to put an end to the deficit, which is the mother of all battles. That implies lowering public spending,” he said, although unlike other opposition presidential hopefuls, he said he would review “line by line the budget of all state agencies.”

Differences with Milei and Bullrich

Rodríguez Larreta took advantage of the occasion to distance himself from the breakaway positions of libertarian economist Javier Milei and former security minister Patricia Bullrich, who also attended the Forum. “I am here to lead a real and lasting change, do not count on me for unproductive bravado. That should be left for a reality show”, he said.

He added that in order to generate change it is necessary to “consolidate a new majority” and that “this can only be achieved when you know how to listen”. He also said that this is not synonymous with making deals and asked businessmen “not to be complicit and not to fall into easy slogans”.

Without specifically mentioning anyone, he said that “some propose continuing with confrontation and violence”. Everyone read it as a message to libertarian leader, Milei. “That has better ratings, but its chances of success are zero. We have already tried it and it went very wrong. Don’t count on me to repeat the mistakes of the past”, he added.

To close, the capital’s Head of Government closed his eyes and visualized himself in a study manual: “I want to lead the generation of ‘23, and I want it to be recognized by the history books and not by the immediate approval or by the results of the next election”, he said. The objective, a priori, seems ambitious considering the challenges that the next occupant of the Casa Rosada will have to face.

Originally published in ambito.com