N.Z. dollar ‘over-valued’
PA Auckland The dollar is grossly overvalued and a devaluation is inevitable, says the New Zealand Party Pakuranga candidate and economist, Ms Josephine Grierson.
“Sir Robert Muldoon’s refusal to announce a devaluation forthwith repre-
sents nothing other than a failure on the part of the Government to face the fact that the dollar is grossly over-valued,” she said.
The Government’s refusal to act “will not stop a flight of capital in anticipation of the inevitable depreciation of the dollar.
“Whichever party inherits
the financial debacle the National Party is leaving in its wake ... will be forced to adjust the exchange rate to reflect economic reality,” she said. “Failure to do so will drive New Zealand into an even worse recession than the one we are struggling to get out of.”
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Press, 22 June 1984, Page 4
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133N.Z. dollar ‘over-valued’ Press, 22 June 1984, Page 4
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