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Montevideo, November 18th 2018 - 12:21 UTC

Argentina's new minister suggests a US dollar between 28/29 Pesos as 'comfortable' for industry

Monday, June 18th 2018 - 07:14 UTC
Full article 7 comments

Argentina’s newly named Production Minister Dante Sica told a radio station on Sunday that an exchange rate of between 28 and 29 Pesos per dollar is “comfortable” for industry.Sica, an economist, was appointed on Saturday to replace Francisco Cabrera as part of a shake-up that also led to the appointment of a new central bank president and energy minister. Read full article

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  • Enrique Massot

    “Changing something so everything stays the same” would be the appropriate headline for this story.

    No minister, no matter how competent, is now able to reverse the course of a government in self-defeat mode running a crazy race to abyss.

    Having deprived the Argentine state of significant sources of funding such as taxes on wealth, export taxes on mining corporations and the agri-food industry as well as deregulating to permit massive capital flight while lifting any restrictions on imports, the resulting fiscal deficit will now be curtailed by imposing austerity measures on the majority of the population as mandated by the IMF.

    Together with using the state to foster personal business, the current government has shown colossal incompetence to run the economy, and will go down in history as the quickest in plunging the country into a deep crisis.

    Jun 18th, 2018 - 07:00 pm - Link - Report abuse -3
  • chronic

    Just like salmon have to swim upstream - rgs have a genetic imperative to self destruct.

    Jun 18th, 2018 - 07:18 pm - Link - Report abuse +1
  • Frank

    Enrique ....
    'No minister, no matter how competent, is now able to reverse the course of a XXcountryXX in self-defeat mode running a crazy race to abyss' ...... yet again....


    ' the current government has shown colossal incompetence to run the economy, and will go down in history as the !!!!quickest!!!! in plunging the country into a deep crisis.'

    So, RG governments of all flavours have a history of plunging the country into crisis..... ?

    Oh well they say people get the governments they deserve...

    Jun 18th, 2018 - 11:43 pm - Link - Report abuse +1
  • Enrique Massot

    @ Frank @chronic

    “So, RG governments of all flavours have a history of plunging the country into crisis..... ?”

    “rgs have a genetic imperative to self destruct.”

    Well, I guess this is the best that MP commentators can produce. When Cristina Fernández de Kirchner, who is not neoliberal, was president, valiant keyboard warriors blamed her government for Argentina's problems.

    Now that a president they see as more akin to Miss Thatcher is running the country to a deep economic and social crisis, they blame Argentines “genetic imperative” or advance lame excuses such as “RG governments of all flavours” do that.

    Come on boys! Eat a bit more fish -- it's good for the brain.

    Jun 19th, 2018 - 04:39 pm - Link - Report abuse -2
  • DemonTree

    “Oh well they say people get the governments they deserve...”

    Nice way to blame the victims. The non-Argentines posting here were enthusiastic enough about Macri during and after the election, are they going to claim now they wouldn't have voted for him if they had the chance?

    And according to them, when a left-wing government has problems, it's the government's fault, but when a right-wing one has even worse problems, it must be the people's fault. Perish the thought any of the Macri cheerleaders admit they were wrong.

    Jun 20th, 2018 - 09:40 am - Link - Report abuse -1
  • Enrique Massot

    @DT

    I am green with envy.

    You have, in just two paragraphs, perfectly articulated what I felt but could not clearly express.

    Chapeau, sir.

    Jun 20th, 2018 - 07:04 pm - Link - Report abuse -1
  • DemonTree

    Thanks, that's very kind of you.

    I hoped for better from Macri, but things seem to be going from bad to worse. Let's hope this is as bad as it gets.

    Jun 20th, 2018 - 09:39 pm - Link - Report abuse 0

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