REPORTING FROM FONTEVECCHIA TO HERNAN LACUNZA 20220331

Former Minister of Finance, Hernan Lacunzaresponded to the national government for having accused him of being responsible for the exchange run in Argentina.

In dialogue with paul rossi in the air of Radio Rivadaviathe former holder of the economic portfolio fired: “They accused me of being behind the last bullfight for the berreta operetta that it is always the other’s fault”.

Lacunza’s reaction comes after one of the directors of the central bankAgustín D´Atellis, has blamed Lacunza for promoting “destabilizing maneuvers” that would threaten the sustainability of the debt market in pesos, for which he argued that the former official tried “install default idea”. The same is also reproached for the president of the PRO, Patricia Bullrich.

Lacunza questioned the government’s lack of economic direction.

In this regard, Lacunza considered that these statements are given by the “government impotence” in the face of the current economic situation and affirmed that “you don’t have to give it entity”.

With regard to the instability of the markets, the former Minister of Finance explained that this situation “was incubating for a long time.” In this way, he assured: “If the Government spends two years madly spending more than it collects, financing the deficit, issuing debt, with the chamuyo that issuing currency does not generate inflation, well, we reach 80% inflation”.

The debt in pesos cannot be renewed due to mistrust”, he clarified in relation to the exchange rate run that was triggered after the Argentine bonds collapsed.

Markets in tension: the run on the dollar that Guzmán did not expect

In relation to the financial level of Argentina, Lacunza stated that the country is “cut off from the world”since “nobody trusts the nation and then there is no credit”, according to their statements.

The exchange rate run and the government’s response

The increase in the value of the blue dollar and the cash with liquidation triggered the country risk figure and rumors of debt default in pesos grew, which aroused the fury of the Minister of Economy, Martin Guzman.

Guzmán denied that Argentina is going to default and directly attacked a newspaper note Clarion where it slips that the holder of the economy portfolio would have suspended his trip to Canada due to the economic situation in the country.

Martin Guzman
Guzmán explained that he will participate in the event that was waiting for him in Canada virtually.

As for the barbarity of defaulting debt in pesos: our government would never do that. Credit in one’s own currency is a pillar of every sovereign state,” Guzmán responded.

The currency run began after an organism of the State of Carlos Pellegrini funds linked to Banco Nación withdraw US$160 million, which were constituted as financial instruments tied to inflation.

RdC/fl

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