UIA's De Mendiguren highlights discussions with gov't resumed
After a meeting between government officials and representatives from the Argentine Industrial Union (UIA) today, its secretary Ignacio De Mendiguren, considered the meeting “positive” and stated that “the most important thing is that we resumed discussions.”
He added the government will unveil tomorrow the details of a resolution to promote exports, a long-awaited move by the industry sector.
Before entering the Domestic Trade Secretariat headquarters, where the meeting was held, De Mendiguren referred to Argentina's current exchange rate: "It’s not the exchange rate what may correct competitiveness that is Argentina’s old problem. Devaluation is not the path. You don’t solve things devaluating but instead, with initiatives such as the Belgrano railway system,” he told reporters during a radio interview.
"We had a period with a highly competitive exchange rate, low inflation, trade surplus, fiscal surplus, and with industry registering a huge growth like the rest of the economy, but at some point, everything was lost,” he added. “Then, the dollar restrictions appeared and the economy stagnated,” he stressed.
Despite the critical statements, he said: “Instead of arguing and looking for those responsible, we must recover engines. We must solve the external problem. Argentina does not have enough dollars and that is causing an economic stagnation.”