Currencies
Peso Devaluation Would Be ‘Very Damaging,’ Argentina Leader Says
- No signs of hyperinflation, President Alberto Fernandez says
- Outgoing leader says IMF deal likely to be finalized this week
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Argentina President Alberto Fernandez warned against a sharp devaluation of the country’s currency as expectations mount that his soon-to-be-elected successor will have no other choice to address a chronic dollar shortage.
“An abrupt devaluation would be a problem for Argentina,” Fernandez said during an interview with Bloomberg TV’s Maria Tadeo in Brussels, where he is attending a summit of leaders from Latin America and Europe. He made no mention that a currency move he characterized as “very damaging” was imminent.