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Argentina's new economic team aims to fight budget deficit and reform the tax code

Monday, January 2nd 2017 - 05:45 UTC
Full article 7 comments

In his first public comments since his appointment, Argentine Economy minister Nicolas Dujovne told a press conference that his main objective would be to continue with center-right President Mauricio Macri's economic policies. Read full article

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  • ChrisR

    But what about the 14M bat-shit mad Peronists and K's?

    Hell of a drag on the economy when that lot conspires to bring the government down.

    Jan 02nd, 2017 - 08:04 pm - Link - Report abuse -2
  • Enrique Massot

    “Caputo said...Argentina needs US$22 billion of debt financing for 2017, plus an additional US$21 billion of re-financing.”

    And so the old story, of which the end was the 2001's default, starts a new chapter courtesy of Macri's Joyful Revolution.

    @ChrisR
    Indeed, poor Macri is trying so hard he needed to take (so far) over 40 days vacation. But of course, just like previous failed Argentine governments, the blame will lie with the opposition according to our diligent commentator.
    In reality, all Macri needed was to improve a bit the economy--or at least to leave it the same, and the opposition would have not much to say. Instead, the deterioration has been so sharp and so fast, many of those who voted for the Cambiemos front are now bitterly complaining. In addition, even with a minority in both Legislative chambers, Macri was able to get approval for most of his bills, which makes Chris's “conspiration” story just a red herring.

    Jan 02nd, 2017 - 10:30 pm - Link - Report abuse -2
  • Tarquin Fin

    Enrique,

    You are wrong again. Most people that voted for Cambiemos are not exactly happy, but rest assured they will never vote Peronist.

    Are you also hooked on the “helicopter” myth?

    Jan 03rd, 2017 - 05:30 pm - Link - Report abuse +2
  • DemonTree

    What is the “helicopter” myth, Tarquin?

    Jan 03rd, 2017 - 07:21 pm - Link - Report abuse 0
  • golfcronie

    Enrique: many times myself and others have asked you how you would turn the Argentine economy around as you are so good at criticising Macri. In Kirchners time many of the prosperous ones were the ones on the “ negro ” who paid no taxes. I sincerely hope that Macri does in fact say to employers that all salaries that are paid are paid into a bank account in the employees name. That way the government can get the taxes that are due. Too many people on the fiddle to make the economy work.

    Jan 04th, 2017 - 12:24 pm - Link - Report abuse +1
  • Enrique Massot

    DT:
    The “helicopter” story refers to former president Fernando de la Rua's famous flight from the roof of Casa Rosada on Dec. 20, 2001 after resigning, as popular discontent reached its paroxism. Tarquin refers to the belief of many in Argentina that Macri will hurt the population in a similar way and will eventually need to evacuate Casa Rosada in de la Rua style.

    TF:
    Don't be so sure. It will all depend on how well or badly Macri manages the economy. So far the results are discouraging. Macri could, however, attempt to reactivate sectors such as construction by re-launching public works projects, after putting all of them on hold during 2016.

    GC:
    During his election campaign, Macri promised to end divisions among Argentines. He also promised to leave intact all that had been done well, and improve what needed improvement.
    If he had stuck to those two things, he would be today in a much better foot than he is.
    However, Macri and his government team have spent a year blaming the “pesada herencia” to justify the backwardeness of his policies that attempt to take back the country to its past role as supplier of meat and grains.
    Argentina's only way is forward is towards a funcional, modern capitalist economy with a strong social component--however, this is way beyond the current administration's grasp and will be up to another team.

    Jan 04th, 2017 - 04:28 pm - Link - Report abuse 0
  • DemonTree

    @EM
    Thanks, I never would have found that by googling. I certainly hope things don't get that bad for Macri or for Argentina.

    Jan 04th, 2017 - 07:32 pm - Link - Report abuse 0

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