Back to convertibility, Jorge Yoma's proposal to Macri

The ambbadador to Peru, Jorge Yoma, revealed that last week, shortly after the hard defeat of the ruling party within the OSP, He met with President Mauricio Macri and suggested that he adopt the economic "convertibility" system., where a peso equals one dollar, which was used in the management of Carlos Menem.

"We must return to the only policy that has proven effective in ending inflation in 60 years and restoring peace of mind for citizens and predictability for the economy: convertibility, "said Yoma.

"Put the exchange rate at $ 100 (if the government does not do it, the market will do it in a few weeks), remove two zeros from the peso and create another strong currency anchored in the dollar."

In an opinion piece signed by the former PJ senator on the Infobae website, he said: "Chau inflation and the interest rate drops sharply. At the same time, freeze rates, prohibit indexation, eliminate withholding taxes and implement a tax and credit policy to promote exports and generate enough dollars to support the weight and push back".

Yoma said that "the government's first task today is to restore tranquility to the Argentines and to think only later in the October elections".

"Yes, back to 1-1.The mistake was not to have made any macroeconomic corrections when Brazil (our main partner) devalued the real, we lost our competitiveness."

"The measures taken by the president last week are correct, but not enough to put an end to the inflation-dollar-interest rate spiral. Each of these variables is the fuel of the other, "said the leader of the Rioja justifying his request for restoration of convertibility.