December 13, 2013
‘RESTRICTIONS’ AN ISSUEThursday, October 24, 2013
Officials consider changes to dollar clamp
The so-called “blue” dollar remained another day yesterday above the barrier of 10 pesos, leading to government officials admitting for the first time that changes needed to be implemented in the foreign currency market.
Alejandro Vanoli, the head of the CNV securities regulator, said yesterday “some restrictions” would have to be changed because “Argentines are forced to go to the illegal market” to buy dollars.
The US currency closed yesterday at 10.10 pesos in the black market, increasing its value two cents compared to Tuesday and widening the gap with the official dollar up to 72.74 percent.
Vanoli made what sounded like a concilliatory statement only a day after having blamed the media for publishing prices of the “blue “rate.
The only time the illegal market reached such values as yesterday was on May 8 when it closed at 10.45 pesos.
On Tuesday, the “blue” dollar rose in value by 15 cents, a large growth compared to last week’s increase of 16 cents.
“I understand the reaction of Argentine citizens, who due to some restrictions that should be changed are forced to go to that market,” Vanoli said. “Our society places a lot of importance on the dollar and any changes to its value causes a reaction among Argentines. Some media groups which are opposed to the government try to create a scenario of financial chaos.”
Following Vanoli’s train of thought, Buenos Aires Governor Daniel Scioli said the government will have “a profound evaluation” on the limitations on purchasing foreign currency.
“The government will establish its priority areas to assign dollars and establish mechanisms to allow more dollars to enter the country through private investments,” Scioli said. “So far our priorities regarding dollars have been maintaining the country’s growth and energy supply.”
Kirchnerite Senator Anibal Fernández said yesterday that broadcasting the value of the illegal dollar “is the same as publishing cocaine prices,” a statement that followed the same lines as Vanoli comments on Tuesday.
Buenos Aires City Mayor Mauricio Macri said he was “amazed” that “somebody like Fernández” would say this. At which point, the combative Fernández said he would take a drug test anytime Macri agreed to do the same.
Congressional candidate for the Broad and Progressive Front (FPCyS) Gerardo Milman said if the government wants to “fight the increase of the illegal dollar” it should “stop saying stupid things”.
“A few months ago government officials said the “blue” dollar would reach 6.40 and now it’s above 10 pesos,” Milman said.
Herald with DyN,Télam