Deputy Economy Minister Axel Kicillof backed the tax amnesty bill proposed by the national government and rejected all devaluation rumours, as he addressed a Senate joint committee seeking the bill to be signed into law by June.
The official stated that “only a few propagandists who have a huge stake of dollars are the ones pushing for devaluation and saying it will be the right solution. But they are just looking to get large profit margins.”
Likewise, Kicillof explained that the bill «aims to attract private savers so they can invest their savings», and played down the role of the parallel market where the so called «blue dollar» trades:
«The parallel exchange market only represents 5 or less percent of Argentina’s exchange market. It’s not as relevant as some actors are trying to say.»
Economy Minister Hernán Lorenzino followed statements by his second-in-command Axel Kicillof warning “there is no reason for the government to think in a devaluation” and questioning “those who seek to predict the apocalypse and propose devaluations.”
“Those who ask to devaluate to bring competitiveness into our economy don’t say that such competitiveness is not for all Argentineans but for a few and that will lead to an inflationary and recessive process”, Lorenzino said.
buenosairesherald.com