July 28, 2014
Aldo Ferrer: 'Out-of-context' devaluation is 'not a solution'
Amid fears over the increasing rate of the so called “blue” dollar, economist Aldo Ferrer warned that an “out-of-context devaluation” will only “make the problem worse.”
In statements to a local radio station, Ferrer considered controversy over black market prices –that have hit historic trends as the gap with the official currently stands at 92 percent-, should not be reduced to the "discussion" over the devaluation of Argentina’s peso currency; such debates “mask” plans by certain leaders that seek to “return to neoliberal polices,” he insisted.
For the ex Argentine ambassador to France, foreign exchange is only "one variable of the economic policy" and pointed out the need to “consolidate achievements reached in several key areas" such as debt restructuring and economic sovereignty decisions.
Only countries that exercise their sovereignty go well, Ferrer stated and added that Argentina’s situation is “reasonably solid.”