MercoPress. South Atlantic News Agency

Uruguay confirms economic policy and names new minister

Alvaro Garcia promised continuity of current macroeconomic policies

Uruguayan president Tabare Vazquez confirmed Monday that Economy minister Danilo Astori would be leaving his post next September 15th but at the same time emphasized that there would be no changes to the current macroeconomic policy to which his administration has been successfully committed.

Astori announced his post would be taken over by the former head of the Development Corporation, Alvaro Garcia, an accountant, university professor and currently advisor to Uruguay's Planning and Budget Office which depends directly from President Vazquez. "There will be no modifications to the current macroeconomic policies of the country in respect to what has been done so far. Of course every minister and every team have their own characteristics and a particular approach to the different issues", said President Vazquez following Monday's regular full cabinet meeting. Outgoing minister Astori said he has full confidence in the new team adding that during the almost four years in office he "shared many professional experiences" with García who is a "guarantee" to ensure the continuation of the current course. Minister Astori has never denied his presidential aspirations and leaving office to return to Parliament is seen as the first step towards the goal of becoming the ruling coalition's presidential candidate. President Vazquez has repeatedly described Astori as "an excellent candidate" suggesting his support. However there are other hopefuls, mainly the former Agriculture minister Jose Mujica, whose political group remains the strongest in the coalition and together with President Vazquez are considered, according to public opinion polls, as the most popular political figures of Uruguay. Incoming minister Garcia (47) iterated the official statements saying that "it's clear that for the new team the main macroeconomic lines will be continued, since we are in accordance with the government and because I'm personally convinced about current policies". Garcia while head of the Development Corporation applied a strong policy of financial and technical support for micro, small and medium companies. He promised "dialogue" a policy of "open doors", but also "low profile" and "no media controversies". The new minister is a professional accountant with advanced studies in Finance. His main task will be to keep inflation under control as Uruguay approaches the electoral season (October 2009) and to balance budget numbers following three years of unprecedented bonanza from international commodities prices, which now seem to be leveling out while farm costs are soaring. Actually García is better known as a composer of songs for Uruguay's Carnival groups that parade Montevideo during summer months. For this activity he has been awarded prizes on several occasions, confessed Mr. García who as the majority of Uruguayans is mad about football, the national sport.