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Monetary authority and the concept of financial planning
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118 b
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Política de devolución de 30 días
If the government intends to adjust the macroeconomy, there can be no more up-to-date tools than financial planning. Financial planning is a medium-term macroeconomic adjustment strategy. The resulting flows across the real sector, the external sector, central government and the monetary situation can be understood through macroeconomic interrelationships. Thus, knowledge of the range of policies - even if only monetary ones - and the Central Bank's interventions would enable an assessment of the robustness of the projected course of action. Nevertheless, the prerogative for planning rests solely with the government. Consequently, if the policy undertaken fails to meet the demands of economic reality, it is the designers of the programme who are blamed. In any case, the transitional nature of the government from 2009 to 2013 is ill-suited to achieving the desired effect of the programme.
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