Tuesday, November 1st 2011 - 20:41 UTC

Boudou says Argentine foreign exchange market with stabilize in a few days

Argentina’s Economy Minister, Amado Boudou, came on stage again on Tuesday to bring calm to markets Monday’s debut of the very strict measures in the foreign exchange market strongly limiting the purchase of US dollars.

Only those laundering money or speculating with dollars have to fear according to Vice-president elect Boudou (Photo TELAM)

During radio conversations, the Minister indicated that “within a couple of days we’ll all see this programme as something temporary and that we should move forward”, and added, “There were some technical difficulties during the first day, and we learnt several things in order to make the necessary adjustments. Today everything will work smoothly.”

The programme gives the Central Bank the power to authorize or not all sales of foreign currency through banks, exchange houses, ATMs, Internet banking and phone banking.

Furthermore all operations must be checked with Afip, Argentina’s tax revenue office to check that whoever wishes to operate has the turnover and sufficient assets for his involvement in foreign money deals.

Likewise, the recent elected Vice President remarked that “Those who have their numbers and accounts in order have nothing to fear, but those who try to speculate with foreign currency operations better know that it will not be allowed anymore as we are trying to tackle down money laundering”.

“We’re not facing any problem with the foreign exchange market”, said the Vice-president elect who minimized inconveniences and insisted that only those wishing to “launder money” or “speculate with foreign currency” are having difficulties.

Nevertheless the Argentine central bank ended Monday selling 100 million dollars which is less than half what it was operating the week leading to 23 October elections.

Boudou accused Buenos Aires dialy La Nación of making up a “media operation” to scare people and promised there would be no sudden jumps or volatility in the market.

“Let me tell you this government has been managing the exchange rate, to the benefit of all, including doom forecasters, for the last eight years” underlined Boudou.
 

Published in: Economy, Politics, Argentina.
Tags: AFIP, Amado Boudou, Argentina, Argentina Central Bank, foreign exchange market, new dollar rules.

9 comments Feed

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1 wesley mouch (#) Nov 01st, 2011 - 09:26 pm Report abuse
You know that Mr Boudou has his money outside of Argentina perhaps in dollars or Swiss francs. A big devaluation is coming. The boobs that voted for CFK will get what they deserve
2 xbarilox (#) Nov 01st, 2011 - 09:33 pm Report abuse
@ 1 yes, he does have his money outside of Argentina!!! He and his girlfriend Agustina Kämpfer.
3 jerry (#) Nov 01st, 2011 - 10:44 pm Report abuse
“There were some technical difficulties during the first day, and we learnt several things in order to make the necessary adjustments. Today everything will work smoothly.” Wait and see Tuesday; I understand that 80% of all requests were turned down on Monday.
4 ed (#) Nov 02nd, 2011 - 09:49 am Report abuse
Money invested where outside of Argentina means that
they are all the parts of Argentina.
5 jorge ferreiro (#) Nov 02nd, 2011 - 11:48 am Report abuse
The only people that will be allowed to buy dollars are Peronist cronies. You know CFK has secreted all the money she has stolen outside the country. As Mencken used to say “democracy is the belief that citizens should get what they want good and hard”. Argentina you are about to get a huge devaluation “good and hard”. Enjoy the ride to poverty, you voted for it.
6 malen (#) Nov 02nd, 2011 - 12:21 pm Report abuse
boudou and cristinas fortunes have increased in one or two years 64 % and 27 % while in office works, isnt they cant have other business while in office??
www.lanacion.com.ar/1400511-el-patrimonio-de-boudou-aumento-el-ano-pasado-64
7 wesley mouch (#) Nov 02nd, 2011 - 04:17 pm Report abuse
I am sure that CFK and Mr Boudou have earned all their money honestly (not). There are two sets of rules in the country of Tony Soprano: the rules for the Peronists (Sopranos) and the rules for the rest .
8 Pirat-Hunter (#) Nov 02nd, 2011 - 09:44 pm Report abuse
if UK can theft land and ritches why not the Argentine president ?? I don't mind feeding my brother, what bothers me is the foreigners thefting from us, if Argentines had balls they would take up the fight with the outsiders and help the president build a better Argentina, rather then betray their countrymen. I think Libya was destroyed like that and if we fight one another maybe that is what people in Argentrina really need a cleansing force like the one from the 70's.
9 Viscount Falkland (#) Nov 07th, 2011 - 03:18 pm Report abuse
”Let me tell you this government has been managing the exchange rate, to the benefit of all, including doom forecasters, for the last eight years” underlined Senor Boudouini , a well known illusionist !

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