President Fernandez appoints a ‘super minister’ to avoid Argentina’s feared collapse

What some analysts will see last try Avoid the shipwreck of the Peronist governmentPresident Alberto Fernández decided to restructure. depth of the ministry cabinet. Fernandez appoints Speaker of the House of RepresentativesSergio MassaAs a kind of “super minister” to control the economy of a country with more than 40% of the poor and unaffected by the rise in the price of the dollar and its corresponding inflationary effect. Massa parted ways with the then-president and current vice-president in 2013. Cristina Fernandez de Kirchner. He stood alone in the 2015 general election with Fernández as campaign manager. The right wing won. Mauricio Macri.

To beat him four years laterThe three of them decided to unite and overcome old animosities. Frente de Todos managed to win the polls, but his administration, initially marked by the pandemic, was never united. In last year’s parliamentary elections, Peronism lost four million votes, which was the beginning of the current crisis. Tensions peak as Economy Minister Martin Guzmán left weeks ago Macri signed an agreement with the International Monetary Fund (IMF) to refinance a $44,000 million debt, and according to Fernández de Kirchner, not only did the ruling party lose its majority in Congress, but also heralds an election collapse in 2023.

Guzmán relinquished his post to Silvina Batakis and the dollar skyrocketed. Only 42 days passed, and Massa said, “pragmatist“according to the newspaper PeopleHe doesn’t go into government just to save her. If he manages to contain the fiasco, he will be Peronism’s presidential candidate next year. But first he will have to work miracles. known for it moderation and elites, as well as with the United States, Massa will intensify its portfolio of Ministries of Economy, Productive Development and Agriculture, Livestock and Fisheries. In turn, it was officially declared that it would be responsible for relations with “international, bilateral and multilateral credit institutions”. This means that if Argentina fails to meet agreed targets for reducing inflation and government spending, as some analysts predicted, it will be up to him to sit down and negotiate with the IMF.

Expectation in the markets

Argentine bonds halted a seemingly deadly plunge when news of the date became an open secret. Market prospects are currently looking positive. Massa told the business newspaper financial areaseen by financial city aspect “friendly guy“, at the antipodes of the vice president. Peronist trade unionism also welcomed his appointment. Finance expert Javier Timerman assured that the main task of the new “super minister” will be to accumulate reserves to stop the drought at the Central Bank. To this end, he will enable large agricultural producers to sell the crops they hold and will accelerate the liquidation of the dollar.

A new phase begins with another experiment. No minister since 1983 (the year of the democratic transition) has amassed so many powers in a single government. It will take over during a political, economic and financial tsunami. If Massa comes back, he’ll get the credit. If the crisis swallows the heroes, Massa and Alberto Fernández will share the costs. “We’ll have to see how Fernández de Kirchner handles his position vis-à-vis the new cast and the policies he’s adopted.” Page 12A newspaper close to the government.

Meanwhile, the temporary Batakis left the stage through the back door. He learned of the changes while in the United States, where Argentina assured the IMF that it would comply with the expected regulation. When they returned to the city of Buenos Aires, they gave it to Banco Nación.

Source: Informacion


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