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ARGENTINA | 28-10-2019 09:48

Fernàndez: We want to end the suffering for all Argentines, for once and for all

President-elect confirms he will meet with outgoing leader Mauricio Macri at La Casa Rosada Monday morning.

Argentina's new president-elect, centre-left Peronist Alberto Alberto Fernández, confirmed he will meet Monday with Mauricio Macri, promising to collaborate during the presidential transition as the country is jolted by financial turbulence. 

“The times coming aren’t easy. Tomorrow I will meet with Macri and we will begin to talk about the moment that we’re in,” Fernández said Sunday. “Of course, we will try to collaborate on everything we can because what interests us is the end of suffering for Argentines for once and for all.” 

The Central Bank said Monday it has sharply tightened currency exchange controls to stem a surge in capital flight.

The move came just an hour and a half after Alberto Fernández, the center-left Peronist candidate, was elected president by a wide margin, defeating Macri.

In a statement Central Bank Governor Guido Sandleris said the institution had taken after noting "an important demand for dollars" last week.

"Faced with the risk that this would continue this week, we decided to deepen the controls. From Monday, we have reduced to US$200 the maximum monthly amount that individuals can buy," it said.

The return to power of protectionist Peronists comes amid a lengthy recession and a debt crunch, raising market fears of a possible default on a US$57-billion IMF loan.

The peso fell 5.86 percent in the week before the elections, and the week ended with the dollar at 65 pesos.

– TIMES/AFP
 

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