“Argentines can and must have a stable currency”, said Javier Bolzico, President of the Association of Argentine Banks (Adeba), in a meeting with the press to commemorate Journalist’s Day (June 7).
“Today there is talk of dollarizing, as an alternative, but the truth is that that is resigning and surrendering as a country”Bolzico explained, adding: “Even for dollarization to work you have to do the same things that are needed to have a stable currency.”
“Countries that have achieved development are characterized by having (or being part of) their own stable currency”assured the banker, in a meeting in which several Adeba executives also participated, including Jorge Brito and Gustavo Manriquezfrom the Macro bank; Pablo Gutiérrez, Eduardo Escasany and Fabián Kon Galicia bank; Roberto Dominguez of the BST; Marcos Prieto of the CMF; Guillermo Laje of the City Bank and Juan Pardo from Mariva Bank.
Banks requested elimination of taxes, and maximum and minimum rates
The bankers called for macroeconomic stability that would allow a higher level of banking in Argentina, today “very low”, since it is 8% of GDP measured against bank loans compared to an average of 50% in the region.
The possibility of reaching higher levels requires that “the State offers the necessary conditions for banks to unfold their full potential”among which he highlighted: “macroeconomic stability”, “elimination of distortionary taxes” and the “dismantling of the maximum and minimum rates that limit the channeling of society’s savings towards credit to companies and individuals”.
Rejection of bankers to the reform of UVA credits
The need for stop “subsidizing cash and penalizing digital money”, and especially to promote legal certainty and that “Congress does not intervene in contracts between private parties”
In this sense, Bolzico pointed out that on Tuesday an opinion was approved in Congressional Commissions that “creates a new tax on deposits (a kind of new tax) and alters UVA mortgage contracts, among other measures.”
“It should be noted that some 100,000 people accessed these credits and they have the lowest irregularity rate in the system. On the other hand, families with housing problems amount to 3,000,000. If the aforementioned opinion is transformed, it will limit the development of the a robust home mortgage market”alerted.
Between canapés, and facing the presidential elections, the bankers referred to the need for the next president advocates for a path of unity and they celebrated that figures they know closely for being part of the authorities of the institution have set foot in politics. They thus alluded to Diana Mondino, who was in charge of the Roela bank in Córdoba, and Juan Napoli of Banco Valores, who became part of the list of candidates for javier mileifor the positions of deputy for the City and senator for the province of Buenos Aires.
Source: Ambito
