Friday, November 28, 2014

Gov't downplays BCRA salary accounts, bounced checks report

Salary account closure has no direct connection with a fall in employment while bounced checks have not increased as a result of lack of funds, Cabinet Chief has affirmed referring to a statement by the Central Bank (BCRA) released earlier this week.

“The Central Bank issued a statement over salary accounts, related to 237,000 jobs, which holds no relation (with the loss of employment). Same with checks in the system,” Capitanich told reporters during his daily press briefing this morning.

“It is absolutely false that (the increase in bounced cheks) is a result of lack of funds. When you observe the BCRA evolution much has to do with the system processing, with bank strikes,” Capitanich pointed out adding there had been “a 2.7-percent drop in October accounting for 18 percent of bounced checks.”

Earlier this week, the Central Bank revealed that 277,000 salary counts have been closed between April and May although reasons can go from a change in job to people’s retirement.

Meanwhile, the bank headed by Alejandro Vanoli informed that the amount of checks issued in October have increased by 25 percent compared to the same period last year and that bounced checks hiked to 54 percent.