Buenos Aires, April 4 (NA) -- Economist Carlos Melconian crossed paths with Minister of Economy Luis Caputo this Saturday, following Caputo's criticism of analysts who call for a devaluation in the country. During his speech at the Rosario Stock Exchange, Caputo made an outburst against economists who claim that devaluing the peso is the only solution to make Argentina competitive again. 'When they think the solution is to devalue me, it makes me want to kick them in the ass,' Caputo had said, according to the Argentine News Agency. Faced with this accusation, the former president of the National Bank responded to the head of the Ministry of the Treasury, using the same phrase to refer to the situation. 'I would like to kick in the ass so many people who have nothing to do with the proposal to devalue. Let them look around, they have plenty to kick in the ass,' he expressed in radio statements. Caputo acknowledged that he is 'concerned' about the speed of the recovery and admitted that inflation could increase. Melconian explained that among the economists with whom he has had a relationship for several years, none has proposed a devaluation of the peso as a solution. 'Among those whom I have known and spoken with for a long time, I really don't know of any, none, none who are proposing to devalue. One thing is when they speak to (Axel Kicillof), to those who governed Argentina for 70 years, and another thing is when we speak professionally and seriously,' Melconian retorted. Towards the end, he asked the government to 'launch a program' and 'regain confidence,' so that people stop buying $2.5 billion per month. 'Let's stop running us over with that talk of productivity and that they feel like kicking someone in the ass. Who is he talking to? If nobody is asking for that,' he concluded. 'No serious professional in Argentina today has that as a proposal,' he added. In this sense, the economist gave the examples of Chile and Uruguay, which have maintained a consistent program for 20 years where the exchange rate is stable, and stated that Caputo and his team 'do not have a comprehensive program.' 'Argentina's economic program is still halfway there, it hasn't broken the shell,' he maintained and added that 'it is not in their interest to get involved in a problem of overvaluation or lag in the exchange rate.' 'In the meantime of having a definitive program in Argentina, which this is not, that the dollar falls is bad. Not in terms of it falling, but in that it does not accompany what is called 'relative prices',' he detailed. Under his view, the country 'is not yet' with a definitive exchange rate and monetary regime. 'Nobody wants to devalue to improve productivity,' Melconian stated. Carlos Melconian responded to Caputo after his criticisms of those who call for a devaluation. Photo: Agencia NA / Juan Vargas. 'Enough of telling these lies, nobody wants to defend an inefficient one by devaluing.'
