CALLING PROTECTIONIST MEASURES “CHEAP DEMAGOGUERY,” CARLOS SAUL MENEM, PRESIDENT OF ARGENTINA, SAID IN ATLANTA JULY 19 THAT ANY TURNING BACK FROM ECONOMIC LIBERALIZATION WOULD BE SUICIDAL FOR HIS COUNTRY.
DR. MENEM SPOKE DURING A BREAKFAST RECEPTION HELD AT THE CHEROKEE TOWN AND COUNTRY CLUB, WHERE HE WAS HONORED WITH THE EMORY PRESIDENT’S MEDAL, GIVEN FOR EXTRAORDINARY ACHIEVEMENT IN FURTHERING EITHER WORLD PEACE OR CULTURAL DEVELOPMENT.
HE SAID THE KEY TO ARGENTINA’S SUCCESSFUL LIBERALIZATION POLICY WAS THE STABILIZATION OF ITS CURRENCY, WHICH IS PEGGED TO THE U.S. DOLLAR AND BACKED BY $20 BILLION IN RESERVES.
ARGENTINA TODAY, HE SAID, HAS NO INFLATION AT ALL, IN COMPARISON TO A 5,000% INFLATION RATE IN 1989, WHEN HE BECAME PRESIDENT.
HE SAID ARGENTINA HAS WEATHERED THE MEXICAN CRISIS AND IS READY TO PROCEED WITH THE SECOND STAGE OF ITS ECONOMIC REFORMS. ARGENTINA’S AIRLINE INDUSTRY WILL SOON BE PRIVATIZED AND THE NUMBER OF ITS GOVERNMENT OFFICIALS CUT BACK, HE ADDED.
HE ALSO SAID THAT ARGENTINA WOULD AGGRESSIVELY SUPPORT THE GOALS OF THE SUMMIT OF THE AMERICAS, BRINGING TOGETHER AN HEMISPHERIC FREE TRADE ZONE, AND THAT IT WOULD ESTABLISH A FREE TRADE STATUS WITH THE EUROPEAN UNION THROUGH A NEW AGREEMENT WITH THE MERCOSUR TRADING BLOC.
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