News

Sergio Massa assumes as Super Minister of Economy in Argentina – El Sol de México

BUENOS AIRES. Serge Massa assumed as new and powerful minister of Economy of Argentinain the midst of a deep crisis, with skyrocketing inflation and rising poverty, which he will have to face with a series of savage economic measures.

Massa, a 50-year-old lawyer who has just resigned from the presidency of the Chamber of Deputies, was sworn in before the President Albert Fernandez at a very popular event political leaders, businessmen and trade unionists.

The lawyer by profession will have previously dissolved management areas under his or her orbit, such as Finance, Treasury, Production, Agriculture and the relationship with multilateral organizations of credit.

Fernández said that it is a time for everyone to join forces to get ahead, not only in the ruling Front of Allbut also between businessmen, trade unionists and the entire political arc.

In a similar tone had been pronounced Massawhen in his farewell speech to the parliament he asked to “build consensus and state policies”.

Massa succeeds Silvina Batakis, who barely lasted three weeks as Minister of Economyamid strong divisions in the ruling coalition between Kirchnerism led by the Argentine Vice PresidentCristina Fernández, and the sector of Peronism aligned with Alberto Fernández.

Massa, for his part, leads the Renovador Front, the third force with the greatest weight within the front of all. is one of three leaders of the government coalition together with Fernández and the powerful vice president Cristina Fernandez of Kirchner.

Their political fluctuations have reduced his popularity, although many Argentines bet on his management capacity to stabilize the economic situation.

The new minister takes the reins of a economy that last year managed to recover 10.4 percent after three years of severe recession, but that this year has lost vigor, in the midst of a complex global scenario and with high inflation, from 64 percent year-on-year in June that could reach 70 percent percent, in addition to poverty close to 40 percent, according to expert analysts.

Argentina also suffers from fiscal and monetary imbalances that the refinancing agreement signed last March with the International Monetary Fund it seeks to correct with goals of reducing the primary deficit, cutting monetary aid to the Treasury and accumulating monetary reserves that pose a major challenge and that many experts consider difficult to meet.

➡️ Subscribe to our Newsletter and receive the most relevant notes in your email

During his first speech as super ministerMassa presented his work plan with which he will seek fiscal order, commercial surplus, strengthening of reserves and development with inclusion.

He also mentioned that he met with the International Monetary Fund to continue with the planned disbursements for Argentinawhich has a program for about 44 billion dollars.

Leave a Reply

Your email address will not be published.

Back to top button