As part of a series of measures to recover the economy and combat exchange rate volatility, the director of Banco Nación, Claudio Lozano, proposed an unusual and practically impossible initiative: create a new currency that is not convertible to dollars.
Being one of the economists who has been gaining greater influence in the ruling party, Claudio Lozano bet on the minting of a new currency within the framework of a set of strategies aimed at the recovery of purchasing power, and that at the same time serve as a counterpoint to the criticism that the Government receives for the over-issuance of banknotes and the growth of public spending as generators of higher inflation.
“Why don’t we rehearse the discussion of a non-convertible currency? It would be a currency not convertible to foreign currency or hard currency to finance social policy and the recovery of the population’s consumption capacity, “Lozano launched in statements to the channel last night. C5N.
To avoid doubts, the economist explained that the new currency should have “all the functions” of the current peso, “except that cannot be exchanged for dollar“, and added:” If you combine this with better exchange regulations, and with a different discussion of the price system, we can have a different conversation of the recovery of economic activity. “
On the other hand, Claudio Lozano analyzed the defeat of the Frente de Todos in the PASO: “I think there are uA combination of disappointment, disappointment, apathy, and anger. It is something that walking the neighborhoods, one notices it. The most important thing to recover space, is that there is listening, and therefore that there is a substantive change in the direction of the management “.
Like other leaders identified with hard Kirchnerism, the former deputy questioned the fiscal policy of the government to which he belongs, tacitly pointing to the Minister of Economy, Martin Guzman: “From October of last year to June of this year, the level of fiscal adjustment that was carried out it was not compatible with a society that had been experiencing a permanent drop in income for four years. “