Saturday, March 2, 2024

ECONOMY | 23-10-2019 13:53

Fernández tells Argentines he will protect their savings and dollar deposits

Presidential frontrunner asks markets and Argentina to "be calm," promising not to raid personal savings should financial turbulence hit country post-election.

Presidential frontrunner Alberto Fernández has played down the chances of financial turbulence should he win election to the Casa Rosada on Sunday and told Argentines not to fear for the safety of their savings.

Asked what would happen to the markets on Monday in the wake of the election result, the Peronist challenger said in an interview with Futurock FM said he hoped everything would be calm, should he defeat President Mauricio Macri at the ballot this weekend.

"I hope calm, I understand that nothing should happen," Fernández responded, adding that Argentines should also "be calm, because we are going to take care of their savings and their dollar deposits."

"Argentines do not have to be nervous, I ask you to be confident because those who created this disaster are leaving," the Frente de Todos leader added.

Fernández suggested Sunday would be a cathartic moment for Argentina. Voters would express their anger at the ballot box, before hope arrives in the form of the result, he said.

"Argentines are definitely looking to put an end to this time. The disenchantment is very great and much damage has been done to the weakest sectors [of society]," he declared.

There is "great social maturity" in the county at the moment, the former Cabinet chief added.

Discussing his time out and about in the country on the campaign trail, Fernández said it was clear Argentines are hurting.

"It's very distressing, the things that they say in your ear when you go to the barrios," he said.

The Frente de Todos candidate also lashed out at the International Monetary Fund (IMF), saying that the institution had "wreaked havoc on the Argentine economy" and was "responsible with Macri for what is happening in Argentina."

He also criticised the president for running "the most expensive electoral campaign in history," alleging that the IMF had done "everything to make Macri president again."

"With us there are no risks [for private creditors]. I am speaking of defending bondholders against the advances of the Fund," he added.

Fernández said, if elected, he would seek to prioritise the bid to tackle hunger and poverty.

"I have an obsession with the issue of hunger. We lose track of what that means," he said.


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