Marcó del Pont assures ‘banking system is in its best historical levels’

Central Bank’s Governor (BCRA) Mercedes Marcó del Pont assured that the Argentine banking system “is in its best historical levels of liquidity, solvency and sluggishness indexes,” referring to Moody’s report.

“I can’t believe the lack of responsibility and professionalism of these agencies that are being questioned for their co-responsibility in the global financial crisis,” she continued.

“Today’s Argentine banking system has the lowest levels of sluggishness in its history, and what’s important to understand is that, although its no in the ideological conception of this rating agencies, the strength of the financial system of this country has to do with the strength of the national economy,” Marcó del Pont stated.

The BCRA Governor assured that this strength is based in the “pillars of growth, macro-economic balance, with the dynamic and the huge profitability of the companies, with the recovery of the income of the people and with the capacity of taking credits and paying them.”

According to Marcó del Pont, the countries “have to reach an agreement to regularize the private companies that have been co-responsible of the international financial crisis.” Over the statement in which Moody’s referred to the vulnerability that generates the state’s intervention in the banking system, she assured that “these statements are always soaked with ideological content.”

She said that “maybe what worries them is that they keep thinking in the free market when Argentina and other Latin American countries have recovered State, capacity of making public policies and the intervention to guide the economical process toward development and inclusion.”