Ex Central Bank head Aldo Pignanelli urged the government to crack down on inflation and «blue» dollar skyrocketing trends and demanded an adjustment plan as he forecasted a troubled economic scenario.
“A comprehensive program must be done to settle the dollar problema. The government must seek a macroeconomic plan of stabilization and control of inflation. Then it should think about an adjustment,” the former official said to a local radio station.
For Pignanelli, the so called “blue dollar” that trades in the black market “reflects the unbalance of Argentina’s economy, with a fiscal deficit that grows, with foreign exchange rate delay, with no productive investments and with people wanting to take dollar reserves because the peso currency is not reliable.”
Accusing the administration of President Cristina Fernández de Kirchner of “dismissing reality,” the ex president of Argentina’s Central Bank warned the government lost the 2009 legislative elections amid a “troubled economic context.” “The same is likely to happen now,” he considered as October’s electoral battle approaches and government’s control of both houses of Congress is set at stake.
Source: Buenos Aires Herald