BUENOS AIRES: Central Bank governor Alejandro Vanoli affirmed the financial entity “has the level of reserves to avoid any maneuver” seeking to fluster the foreign exchange market and create “instability” ahead of the presidential elections.
“The monetary and financial stability is guaranteed. The Central Bank has the level of reserves to face all financial commitments, all the supervision instruments to shrink financial volatility and avoid any attempt of maneuver. We guarantee Argentineans they will be able to vote in peace,” Vanoli said.
“In these months, after two years, deposits in dollars began to recover, which is a show of trust,” the official added explaining that in the past people used to withdraw their money instead.
Queried about the so called “blue” dollar, Vanoli pointed out “black markets” existed in all countries.
“In all countries there are black markets, illicit activities; our duty is to combat it; that’s why (we set) fines and sanctions. Who benefits from its price continuing to rise? We are close to the elections and the campaign has been brought into it. The opposition seeks to install there is a crisis and some media are part of that strategy,” he stated blasting pro-devaluation sectors.
“Many sectors get annoyed because reserves have increased and no devaluation has been produced, which would only benefit does promoting it. The restoration of neoliberalism is tanking for many, which is more and more far away,” the Central Bank authority said.
“They want to make subtle warnings to democratic governments; that is why it is very important for democracy that economy powers be subordinated to the political power.”
