The financial operations made in dollars were subject to a strong currency substitution to pesos, the "pesification". There were disputes over the exchange rate of such substitution, as the current price of the dollar in the open market would force most firms and individual debtor to bankruptcy. The initial policy was to make 1 to 1 substitutions to the operations below 100,000 dollars. Another conflict was the corralito, imposed by De la Rúa, which attempted to stop the bank run by forbidding the withdrawal of money from bank accounts. Duhalde promised in his oath of office speech that "The one who deposited dollars will receive dollars". The minister of economy Jorge Remes Lenicov pointed out that that would be impossible, as the amount of dollars required was higher than even the foreign-exchange reserves of the Central Bank. Duhalde acknowledged two weeks later that he was mistaken. The bank accounts in dollars would be "pesified" at a 1.4 exchange rate, and the state financed the banks for the different rates with other operations. The taxes of public services were "pesified" and fixed at their current values. Most industries benefited from the "pesification" and the devaluation, as they could now export at higher prices, and the economy started to improve. The jump in the international price of soybean in July 2002 also proved highly beneficial. The devaluation also increased the price of imported products, which allowed import substitution industrialization. As the local prices became cheap in dollars, international tourism to the country was increased. The national state absorbed the debts of the provinces and the bonds used as alternative currency, on the condition that they transferred the power to issue bonds.