Economist Aldo Abram argues that the steep rise in the dollar benefits sectors that produce goods but harms all other Argentines, “because it will cause all products to be more expensive.”
Speaking to Radio Rivadavia, he argued that “around the world, the price of the dollar is decreasing but in Argentina it keeps going up. This means the value of the Argentine peso has gone down, which is worrisome.”
Abram, an economist and Executive Director of the Libertad y Progreso Foundation warned that “while we are trying to sustain this type of currency exchange the Central Bank keeps issuing pesos, which people do not want, so the local currency loses value. When the peso depreciates, the first thing that comes up is the dollar. “
Towards the end of the interview, Abram predicted that as a consequence the dollar rising “
“All the goods the good and services we consume will be more expensive going forward.“
* This article was originally published by El Cronista.