Buenos Aires Times

economy currency volatility

Macri: ‘Dollar has calmed down’

The dollar soared 63 pesocents this week to 30.42 pesos, the Central Bank reported.

Saturday 18 August, 2018
Macri at a press conference in Jujuy.
Macri at a press conference in Jujuy. Foto:Cedoc

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President Mauricio Macri downplayed the national currency’s ongoing volality. Speaking at a press conference in Jujuy province yesterday, he told reporters: “The dollar has calmed down lately”.

“We taking on the storms front on, with conviction, maintaining our path”, he said.

The head of state also spoke about the so-called “notebook scandal” which has linked his cousin, Ángelo Calcaterra, to alleged graft. Calcaterra has secured a plea bargain.

At the annual Argentine Business Association (AEA) summit this week, Macri urged leaders to move toward greater transparency in their respective sectors.

“I do not plan to mortgage my government or the future of Argentina to defend somebody acting outside of the law”, Macri said.

“The government is doing everything it can to ensure transparency and institutionalism”, he added, speaking to 150 of Argentina’s top business leaders, whose activities account for 70 percent of total private economic activity in the country.

President Mauricio Macri speak clearly, we have started to put real problems on the table instead of denying them or looking for magic solutions, and most of all by not spending State resources recklessly”, the head of state charged, in clear reference to his predecessors in the Néstor and Cristina Kirchner admininstrations.

In attendance at the AEA summit were Techint Group CEO Paolo Rocca and Roggio Group boss Aldo Roggio, both of whom have secured plea bargains in the “notebooks” investigation currently being pursued by Federal Judge Claudio Bonadio.

Testifying before Bonadio at Comodoro Py courthouses this week, Roggio admitted to paying bribes to disgraced former Transport secretary Ricardo Jaime who is spending time behind bars for his role in the corruption and neglicence tied to the fatal 2012 Once train tragedy.

IMPORTANT BACKING

President Macri enjoys widespread support in the business community at a crucial time for the president as he begins loading his multi-billion-dollar austerity plans toward the 2019 general and presidential elections.

A Management & Fit poll on Tuesday found that Macri faces a 62.5-percent disapproval rating, twice as much as his approval rating at 31.5 percent.

The poll also found that 70.8 percent of Argentine consider themselves worse off or much worse off in 2018 than last year. Inflation was the principal concern among those polled at 21.6 percent with corruption coming in second at 15.5 percent.

Poll

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