Claudio Lozano

Claudio Lozano Proposed Creating a New Currency That Cannot Be Converted to the Dollar

Claudio Lozano considered that a “currency not convertible to foreign currency”, together with exchange regulations and price controls, would allow “financing of social policy” and “a recovery of consumption capacity.”

The ruling party analyzed that the hard defeat in the PASO has to do with the economic crisis. While the government is preparing various measures to “put money in people’s pockets,” the director of Banco Nación, Claudio Lozano , proposed another idea that attracted attention: creating a new currency that cannot be converted to the dollar .

With the aim of recovering consumption capacity and guaranteeing the purchasing power of society, the economist launched this idea: “Why don’t we try the discussion of a non-convertible currency?”

Interviewed in C5N , Lozano was asked to expand his idea: “A currency not convertible to foreign currency , not convertible to hard currency to finance social policy , and the recovery of the population’s consumption capacity.”

“A currency that has all the functions, except that it cannot be exchanged for the dollar, ” remarked the former national deputy. He also commented: “If one combines this with better exchange regulations, and with a different discussion of the price system , we can have a different discussion of the recovery of economic activity. “

On the other hand, Claudio Lozano also expressed his opinion about the defeat of the Frente de Todos in the PASO : “There is a cocktail where anger and disappointment are mixed . It is something that we have registered in some tours in the neighborhoods. It is something that walking the neighborhoods it shows “ .

“In that sense, the most important thing is that in order for us to recover space, there must be listening. That there be a substantive change in the direction of management, ” said the director of Banco Nación.

In addition, the economist insisted on discussing exchange regulations : “It cannot be just a financial alchemy with the purchase and sale of bonds where I also spend reserves. We must discuss the parallel markets of the dollar. We must see if it makes sense to keep them the same way. in which they are working “.

“Since October last year, the level of fiscal adjustment was not compatible with a society like the one we have,” Lozano said, adding: ” I do not believe that universal income cannot be financed. It is debatable that subsidies cannot be debated. “.

“We must modify the conditions of inequality. If we do not modify the distribution of income, the market for the rich is very small. We must think about social control , sit down all the actors to stop the abuses of the dominant position”, concluded.

Melissa Galbraith
Melissa Galbraith is the World News reporter for Globe Live Media. She covers all the major events happening around the World. From Europe to Americas, from Asia to Antarctica, Melissa covers it all. Never miss another Major World Event by bookmarking her author page right here.