'Argentina needs to go through process of de-dollarization,' Abal Medina
While speaking before Congress, Cabinet Chief Juan Manuel Abal Medina said Argentina needs to go through a “de-dollarization” process and assured that “there is a segment of the Argentine population that has an obsessive-compulsive mania of thinking in dollars.”
As the controversy over the Government’s tightening controls on currency exchange, Abal Medina assured that “there is a segment of the Argentine population that has an obsessive-compulsive mania of thinking in dollars.”
“This is a great cultural problem,” he added.
“When you sell your home, you pay your taxes in dollars instead of pesos. Why is it that we must use a currency used in Miami to pay for a home that is here?” he wondered at the hearing.
He also praised the “administrated floating exchange rate” system on the US currency, as many continue to criticize the Government’s controls on the exchange market.
Abal Medina also stressed the fact that the country "is enduring the ups and downs of the international economy and the harassment of concentrate capitals."
The Cabinet Chief began his briefing by congratulating opposition members for approving the YPF takeover law and subsequently praised President Cristina Fernández de Kircher’s administrations.
Abal Medina arrived at the Upper House accompanied by Media Secretary Alfredo Scoccimarro, Energy Secretary Daniel Cameron and Transport Secretary Alejandro Ramos.
According to article 101 of the National Constitution, the Chief of Staff must visit the Congress at least once a month, alternating Upper and Lower houses, to deliver a government’s management report
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