Former Central Bank governor and member of the Monetary Board Hugo Guiliani told Hoy newspaper that the government needs to attract foreign investment that generates dollars not pesos. He said this would lessen the pressure on the balance of payments created when foreign companies send their profits back home. Hoy newspaper reports that foreign companies have sent home US$6,662.7 million in profits from 1995-2000. During this period, new foreign investment only amounted to US$3,936.9 million. Only last year, foreign investors repatriated US$1,340 million dollars, of which US$1,135 million were profits, the remainder interest payments. Last year, foreign investment amounted to US$952.9 million, thus more money was exported than invested in the country.
