The financial sector always led us to big crises

The financial sector always led us to big crises

“The obsession we have with Sergio (Massa) and our team is to change the productive matrix, because that is what is going to allow us to get out of the plans, the indebtedness and the poverty but really,” said De Mendiguren in statements to Radio Rivadavia.

While the Minister of Economy negotiates with the banks their participation in this week’s debt swap, with which he seeks to postpone maturities for some 2 trillion pesos, the official pointed out that “the financial sector is key in all parts of the world, but is the one that always led us to great crises” in Argentina. Likewise, De Mendiguren considered that whenever there was an economic debacle “the recovery was from the interior to Buenos Aires”.

As for the self-criticism for the economic performance of the government of the Frente de Todos, he acknowledged that “there were mistakes.”

“First, I include myself. Because this is always the fault of others. Now, we have very strong criticism in Argentina for all unsuccessful people, who cannot show successful efforts. I will not give a name, but let’s think“, he defended himself.

The Secretary of Production insisted on a call for the collaboration of the opposition to get through the crisis, recalling the agreements that were made to get out of convertibility in 2002. “I always valued that at that time radicals and Peronists said ´we would get out of this together “They didn’t look back, they didn’t blame each other. There was a problem and we had to go out together,” he rescued.

In this sense, De Mendiguren called on the ruling party to look “forward and get out of this situation” by admitting that it is “complicated” because they do not have “dollars.”

“We must grow, we must solve inflation. Argentina has never lived with these characteristics,” he added.

Referring to the extreme social situation in the country, he maintained: “How are we going to get out of this situation without strong growth that solves social plans, poverty and permanent indebtedness?”

The official indicated that “today Argentina as a country exports 400 dollars a ton and imports 1,800, the numbers do not close anywhere.”

“We have a model that is as primary as in the 19th century, with the difference that at that time we were 4 million inhabitants and today there are more than 45 million,” remarked the Secretary of Production, who specified that they have “Two Ways to Solve the Deficit Problem by Lowering Expenditures and Raising Billing”.

Source: Ambito

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