Monday, May 28, 2012
Aníbal Fernández praises government's exchange rate regime
Victory Front Senator and former Cabinet Chief Aníbal Fernández defended today the restrictions imposed by the government on dollar purchases.
He warned going back to a flexible scheme would be "suicidal." "If people are operating with money of non-declared origin, then they shouldn't be able to buy dollars," Fernández stressed.
He went on to defend the administrated floating exchange rate regime saying it was implemented in defense of "the interests of Argentines."
"Argentina must make decisions that are key to all Argentines regarding the trade balance, imports, exports and the exchange rate, and for each of those issues there is a recipe," he told reporters, explaining that "the State must meddle in each of these actions and make decisions."
He warned going back to a flexible scheme would be "suicidal." "If people are operating with money of non-declared origin, then they shouldn't be able to buy dollars," Fernández stressed.
He went on to defend the administrated floating exchange rate regime saying it was implemented in defense of "the interests of Argentines."
"Argentina must make decisions that are key to all Argentines regarding the trade balance, imports, exports and the exchange rate, and for each of those issues there is a recipe," he told reporters, explaining that "the State must meddle in each of these actions and make decisions."
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