Piñera: The Government has tools to strengthen the exchange rate

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SANTIAGO. -  Amidst the continuous plummet of the dollar, the ex presidential candidate, Sebastián Piñera, stated this morning that the Government has the tools necessary to strengthen the exchange rate.

The business tycoon said that the U.S. currency’s “excessive fall” is affecting small and medium sized companies, as well as the agricultural and export sectors.  Piñera then went on to propose three measures to cope with the problem.

The first measure would be to open the capital account so that “pension funds can be invested where there is potential for the greatest earnings”.  The second measure would be to make public spending “a more exact, more efficient activity with more foresight”.  The last measure would be to raise the country’s savings rate.

“These three actions would not only bolster Chile’s growth, but would also help small and medium businesses and would strengthen the exchange rate”, he concluded.