Nicolás Dujovne about Roberto Lavagna: "Some of the problems we encounter come from his direction" – 14/03/2019

The Minister of Finance, Nicolás Dujovnehe accused Roberto Lavagna to have contributed to generating some of Argentina's current economic problems. In an interview in Washington with Argentine correspondents, Dujovne told him Clarin "some of the problems we face come from his direction".

"Do not forget that Argentina had frozen rates throughout the management of Roberto Lavagna. During its management, the tax result, instead of improving, deteriorated because it absorbed the improvements initially made. Jorge Remes Lenicov. And I think that part of the problems we have encountered with our debt has been generated by a very unsuccessful restructuring, with a level of non-acceptance of 26%, which is very unusual and which generated an interest account that We had to pay ourselves. Part of the problems that we have had to face also comes from this direction, "said Dujovne, referring to the former Minister of Economy of Eduardo Duhalde and Néstor Kirchner, today annotated informally in the race for the presidency.

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Monday to Friday morning.

– Will the economy play for or against the government in the October elections?

-I do not know, I am not a political badyst. I am convinced that we are doing the right thing, that we are responding to the needs of Argentina. After decades in which our country escaped to find a structural solution to the problems, the government faces it. We believe that society will value it, even though we know that these years have been difficult for many Argentines. We know that we are not strangers to this feeling. But the Argentineans are aware of their efforts and do not want to draw all that we have done.

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– If you are still Finance Minister next year, will you ask for more money from the Fund?

– No way. We expect to have a primary surplus next year. We will have very low financial needs. We are going to have a very manageable financial program. We do not intend to change the current program we have with the Fund.

In another part of the interview, Dujovne responded to a suggestion that his predecessor Menem Domingo Cavallo recently published with reference to what to do with the economy. Dujovne told him Clarin "There is a whole generation of economists in Argentina who, I think, have contributed to the failure of our society."

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"They generally interpreted it as an economic program is based on the exchange rate delay and tariffs or both at the same time, as Kirchner did." We had other programs based on the delay It should be noted that this would have been the case if, in the preceding decade, instead of convertibility, Argentina would have done the same as Peru, Colombia, Chile and Brazil, that is, invest in building a healthy currency with a floating exchange rate, with a credible central bank.We would not have had the 2001 crisis, the corralito, all the money. Cavallo's legacy prepared by a program that we do not know if it will be similar to the previous ones"Said the minister.

The official also said: "We are proposing a different program, which really consists in having a healthy currency that floats and thus reduces the real volatility of the Argentine economy." The Argentine economy and the Venezuelan economy are the two most volatile economies in Latin America, which is badociated with the propensity of Argentineans to try to solve macroeconomic problems by fixing the exchange rate. At La Cavallo, with a fixed exchange rate and uncontrolled cash. Where the Axel Kicillof, with exchange and trap controls. But we never try to do what we do: a floating change based on a healthy central bank. "

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