01 June 2012

ARGENTINA : 02 June UPDATE: No "Explosive" Devaluation Claims Top Finance Official; Pol Apologizes After Outburst Over His $Usds.


      Even as Argentines continue to squirrel away usds...as the peso's official value plummets...with signs of growing black market activity...influential Deputy Econ Minister Axel Kicillof denied a devaluation was in the offing.
     "We are not going to take any explosive measures," he announced.
      25% annual inflation and slowing trade are pressuring the peso's value.
      Kicillof blamed opposition media for heating-up national panic over the weakening currency.
    Link UPDATED!!!: Influential Senator Anibel Fernandez...a staunch President Cristina Fernandez and peso defender...admitted he kept 31% his fortune in $usd. 
      He even lost his temper defending his dollar holdings...claiming it was 'none of your business.'
       Fernandez later apologized after Cristina publicly scolded him for his behavior.