Kicillof: 'We are trying to make the financial system follow our regulations'

Axel Kicillof addressed reporters at the Economy Ministry (file photo).

Economy Minister Axel Kicillof has held a press conference at the Economy Ministry and spoke about the controls carried out at foreign exchange houses in Buenos Aires city. "We have found severe irregularities," he said.

During the conference, held together with Central Bank head Alejandro Vanoli, Kicillof specified the controls were carried out by officials from the Central Bank officers, the Financial Information Unit (UIF) and the National Securities Commission (CNV) together with around 100 gendarmerie officers.

Kicillof said severe infractions were found during the controls, and added over a million undeclared pesos were seized. "We have found severe irregularities. With these controls, we are trying to make the financial system follow our regulations," he said.

Meanwhile, Kicillof announced a new 1 millon ton quota for wheat export will be opened, together with a 100 thousand ton quota for flour.