Argentinians Irked After Their Currency Is Devaluated

SHOTLIST: BUENOS AIRES, ARGENTINA, JANUARY 24, 2014, SOURCE: AFPTV SOUNDBITE 1 Anna Oyarzabal (woman) , unemployed (Spanish, 14 sec) "I have a daughter in Ecuador and I can't send her dollars if I want to help her. I have another one who lives very far away and when I want her to buy me things they never arrive. I don't like the system, I don't like it at all." SOUNDBITE 2 Alberto (man), employee at a shop on Calle Florida, (Spanish, 9 sec) "A devaluation first of the human being, then of the money and then they talk about democracy even though they rob all of us." SOUNDBITE 3 Oscar (man), employee (Spanish, 4 sec) "What's sad is to see a country going bankrupt instead of getting back on its feet." - VAR of a newspaper kiosk, with headlines of the day - VAR of Argentina's Central Bank - VAR of banks /// ------------------------------------------------------- Argentina lifts controls on buying foreign currency / Buenos Aires (Argentina) - 24 January 2014 14:52 - AFP (Alexandre PEYRILLE) - 4THLEAD ADDS drop in Madrid shares, IMF quotes / BUE - POL - ECO - 804 Words / Argentina economy forex bank / PICTURE, VIDEO / PAW-GL , AFW-GL , MEW-GL , EUW-GL , MAX-GL , ANA-GL 24 January 2014 Argentina abandoned an unpopular ban on buying dollars Friday allowing citizens to once again hedge against the plunging value of the peso by hoarding their savings in foreign currency. One day after the Argentine peso suffered its worst single-day fall in more than a decade, the move recalled memories of the country's 2001 financial crisis and increased pressure on the government. President Cristina Kirchner's cabinet dropped the unloved 2011 rule restricting access to foreign currency, although the moved risks adding more downward pressure on the peso. Jorge Capitanich, the leader of Kirchner's cabinet, said the government has decided "to authorize the purchase of dollars for spending or saving." Flanked at the press conference by Economy Minister Axel Kicillof, Capitanich argued that the restrictions had always been temporary and had served their purpose. He also announced that a 35 percent surcharge on dollar purchases will be reduced to 20 percent beginning next week. At about eight pesos to the dollar, he said, the currency "has reached an acceptable level" under a policy of "managed flotation." Share prices in Madrid tumbled 3.6 percent Friday, reflecting global market concern over the plunging currency in Argentina, where a large number of Spanish...