APYME supports reform of the Central Bank Charter 2012

APYME supports reform of the Central Bank Charter
The Assembly of Small and Medium Entrepreneurs (APYME) expressed support for the Bill to amend the charter of the Central Bank, announced by President Cristina Fernandez de Kirchner in his opening session in the Legislature. 

In a press release, the organization said it "has obtained a favorable opinion for treatment in the Lower House the draft reform of the Central Bank Charter, announced by the President in his opening session in the Legislature." "The fact is auspicious for the productive sectors to the extent that the said project seeks to abandon the anachronistic BCRA monetarist goal for the body to perform functions more in line with national and international economic situation, including democratization and decentralization of credit under parameters of economic development with social equity "he said.

In turn, added that "our organization considers that there is a specific clause that includes MSMEs as priority subjects in credit assistance, as proposed by Deputy Carlos Heller and other lawmakers. These companies represent over 95% of production units and represent 70% of employment, but for the most part are prevented from accessing the system or choose financed with equity rather than borrow at prohibitive rates. " In that sense, from APYME noted that "we reaffirm our conviction that it is essential to continue progress on reforms to prevent a new submission to the rule of free markets and speculative movements, whose tragic now is regarding the succession of 'settings' brutal in Europe framework of the international crisis. 

Our organization holds from the beginning that removal deindustrializing definitely the model that led to the worst crisis in our history, is a priority, among other things, repeal the Financial Institutions Act (imposed by the dictatorship with his minister Martinez de Hoz) and give to credit a sense of public service. " "While that goal is still valid, does not contradict with the necessary support to the current proposal to amend the Charter that truly reflects many of the concerns raised regarding the regulation of rates, the protection of users and establishment of suitable instruments to reduce the concentration and the discretion of the system. 

Moreover, leaving behind the outdated and convertibility scheme is an outstanding debt to Argentina society, "he said. "APYME says that treatment and punishment of these regulations constitutes a notable advance in the direction of the structural changes that still needs to pursue to provide the state of tools in line with growth targets based on the expansion of productive activity, industrialization, strengthening the internal market, the promotion of SMEs, equitable distribution of income and economic sovereignty, "concludes the statement.

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