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ARGENTINA | 04-09-2019 10:43

Fernández decries Merval plunge after second day of currency controls

Peronist presidential candidate, tweeting after teaching in Spain, says his administration will "stabilise the economy and leave this recession behind."

Presidential front-runner Alberto Fernández tweeted Tuesday night that “the Buenos Aires Stock Market has not found its floor,” before going on to declare that Mauricio Macri's economic model has "generated recession, poverty and a destruction in the value" of Argentina's "most emblematic companies."

In the remarks, delivered from Spain where the Peronist presidential candidate is teaching and meeting politicians, Fernández was referring to a 17-percent plunge in the value of the Merval leading stock index of the Buenos Aires Stock Exchange, which happened earlier in the day. The slump came on the second day of the government’s newly imposed currency controls.

“We are going to stabilise the economy and leave this recession behind, putting forward again all the potential that we have in value for the wellbeing of Argentines,” Fernández wrote in a second tweet. 

Earlier in the day, Fernández, accompanied by national deputy Felipe Solá and Callao Group leader Miguel Cuberos on his travels, delivered a lecture at a Spanish university, titled “How to bring politics to the citizenry: A perspective of electoral campaigns.” 

The former chief of government’s presentation formed part of a series of talks based on “Public management and image advice.” 

Later in the day, Fernández held a 35-minute meeting with Banco Santander CEO Ana Botín, during the Peronist politician laid out policy proposals for his government should he win October’s general election. 

Botín reportedly affirmed her commitment to the company’s investment plan and maintaining staffing numbers in Argentina. 



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