Economy Minister Luis Caputo criticized proposals to devalue the Argentine peso during a speech at the Rosario Stock Exchange on April 1, using strong language that drew attention from both social media and news outlets.
The issue of whether to devalue the peso has become central in recent debates about Argentina’s economic strategy. Caputo’s remarks reflect ongoing tensions over how best to improve competitiveness without causing further instability.
“A los que piden devaluar me dan ganas de cagarlos a patadas en el culo,” Caputo said during his presentation, a statement that was picked up by microphones and quickly spread across various platforms. He also described as “patética” the position of those who argue that currency devaluation is necessary for enhancing national competitiveness. According to Caputo, such proposals are misleading: “le están tomando el pelo a la gente,” he said, questioning both their technical basis and underlying motivations.
Despite the controversy generated by his comments, Caputo defended the government’s current economic program and stated there are no plans for a near-term devaluation. He highlighted that the Central Bank of Argentina has accumulated more than USD 4 billion in reserves so far this year and noted that the exchange rate remains stable without major fluctuations. The minister added that official data show growth in 12 out of 16 sectors comprising gross domestic product, with high levels observed in consumption and exports.
Caputo reiterated that government policy aims to maintain macroeconomic stability while avoiding sharp movements in currency values, arguing that sudden devaluation could increase inflation and reduce purchasing power. His remarks come amid an intensifying debate about exchange rates and competitiveness within Argentina’s economy.
The minister’s blunt language sparked significant reaction within political and economic circles, renewing discussions about public discourse at a time of heightened economic sensitivity.
