Central Bank Governor Mercedes Marcó del Pont.
Central Bank Governor Mercedes Marcó del Pont assured that the exit of dollar deposits of the local financial system has slowed down and highlighted the fact that Government’s policy of regulated exchange rate has given “certainty” to savers and investors.
While speaking at a seminar organized by the Economy Ministry and the World Bank, Marcó del Pont spoke of her meeting with Noble Prize winner Joseph Stiglizt and other WB officials. “Despite the experts attending, the final result of the meeting leaves a skeptic climate, because now they speak of fiscal consolidation, but the recommendations are the usual and do not aim to development and growth,such as deficit zero,” she said while analyzing the European crisis.
Later in her speech, the CB governor mentioned Argentina “as an example of the failure” of those policies and suggested that that bad example is taken into account. “Experts vindicate the strength of the Argentine model on grounds of a solid domestic market, industrialization and a diversification in exports that allows us to predict a 6 percent of GDP.”
Marcó del Pont also stressed the importance of the continuity of the economic policies in President Cristina Fernández de Kirchner’s second term, which begins officially on Saturday. “When we speak about the new Cabinet what comes across is the continuity of the regime, which has been absolutely successful. Within this regime, the policy of regulated exchange rate has certainly proved its success,” she concluded.
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