Devaluation is a fact although the government denies reality, former Economy Minister Roberto Lavagna said and considered Argentina’s economy faces the “worst scenario” possible.
Lavagna told reporters that “devaluation” is a proof of “failure” and accused the government of denying it. “Economy goes through a deterioration process. Printing money with no backup caused inflation, investment is limited and job creation and the energy situation is complicated,” the economy minister during the Néstor Kirchner administration affirmed.
“The government shuts itself off and gets away from reality, that is why it finds no solutions to what it does not believe in,” Lavagna insisted adding that “people end up paying for the price of adjustment.”
Source: Buenos Aires Herald