Gov't's debt reduction measures 'over the top,' De Mendiguren

Argentine Industrial Union head José Ignacio de Mendiguren questioned the Government’s latest measures regarding currency exchange restrictions and assured they were “over the top.”

De Mendiguren, who on Saturday was blasted by the Rural Society head Hugo Biolcati for his close ties to the Government, said that “the measures implemented to comply with a debt reduction plan are over the top.”

“These measures generate a feeling that something else is happening. People associate them with the times when there were restrictions in the trade balance,” De Mendiguren added. “This only causes economic decisions to to be delayed in the country.”

The UIA head also predicted that the Argentine economy will grow 2.5 percent in 2012 “which is not good, but at least it's satisfactory.”