MercoPress. South Atlantic News Agency

Developed countries “will try to pass the crisis down on us”, claims CFK

Argentina concerned but “prepared” to face the impact, claims Boudou

Argentine President Cristina Fernández de Kirchner (CFK) referred to plummeting global markets and blasted developed countries for the potential consequences of the crisis. Economy minister Amado Boudou said Argentina was closely following events with concern.

“They will probably try to pass the crisis down on to us” said the president while visiting a metallurgical congress on Thursday.

“We are witnessing the fall of paradigms” Fernández de Kirchner added, regarding the international economic crisis. She also stressed the growth that the industry has had under both Kirchnerite administrations in the past eight years

Earlier in the day Economy Minister Amado Boudou acknowledged that Argentina is closely “observing the financial crisis” currently affecting the United States and Europe, “with concern”.

But he added that Argentina is “prepared” to face an impact of the crisis to the domestic market. Boudou underlined that the Argentine economy currently “has the possibility of maintaining a steady level of growth” away from external crisis.

The minister further stated that the North American economy “is still the biggest in the world, and despite advances from China, it remains one of the drivers of the global economic system”.

“Being prepared means developing the internal market” emphasized the Economy minister who is also President Cristina Fernandez running mate for her re-election bid October 23.

With regard to the US dollar exchange rate, Boudou insisted that there will be no surprises in the local market and the greenback will maintain stability even after the presidential election.

“I see that businessmen and the population overall are calm, and this is because we have been able to continue applying the same policies as we have done over the past eight years.”

Boudou also talked about the possibility of Argentina issuing debt, and advanced that this would happen “at some stage,” but only to finance infrastructure projects. At the same time he underlined that if issued, the debt would “not be used to cover other debt or current costs”.