November 27, 2014
Deputy Economy Minister Agis rejects devaluation plans
Deputy Minister of Economy Emmanuel Álvarez Agis denied that the government plans a new devaluation and warned against “abrupt” exchange rate increases which create “tense situations” for the country.
“Argentina has experienced an important exchange rate hike on January and now we have (Argentine Industrial Union Héctor) Méndez calling for a return to that. We are not going to reinvent history,” Agis said in response to last week’s Méndez comments, who has suggested that the government might need to intervene to accelerate the devaluation.
“Everytime the exchange rate rises abruptly, Argentina faces tense situations,” Agis added during an interview with a local radio station.
“If (Héctor) Méndez wants to go back to those programmes of the early 80s, with devaluation, inflation and devaluation again, this government will not implement that plan,” the official stressed.
Agis stated that the government will keep the exchange rate at a level that is “competitive enough to benefit regional economies but not as high as to affect imports.”