New Economy Minister, linked to Kirchnerism, takes office in Argentina

The President of Argentina, Alberto Fernández, swore in this Monday (4) the new Minister of Economy of the country, Silvina Batakis, substitute for Martín Guzmán, who resigned at the end

According to the Argentine press, the name of the new minister was an “imposition” of Vice President Cristina Kirchner, who had been criticizing Guzmán’s economic policy, especially the proposals reduction of public spending and subsidies.

In the Argentine political milieu, Batakis’ appointment was treated this Monday as a victory for the vice president’s political group. Patricia Bullrich, leader of the center-right Republican Proposal (PRO) party, pointed out that Fernández opted for “more kirchnerism”.

“Our for Argentines, it must be defined with Juntos pela Transformação [partido do antecessor de Fernández, Mauricio Macri]. More changes to combat lack of government and decay. We will strongly support our alternative”, he wrote on Twitter.

Left congressman Julio Cobos also pointed out that Kirchner comes out stronger from the crisis that culminated in Guzmán’s departure.

“These divergences in the government, knowing that the vice president exercises power in an unusual way by imposing a minister of the economy… that affects. The crisis was already installed, this situation deepened it. We have to see if this new appointment is the way out. But this arm wrestling was won by the vice president”, he declared.

The lack of dollars and inflation will be the biggest challenges for Batakis, who was Minister of Economy of the province of Buenos Aires between 2011 and 2015. Inflation of 29, 3% accumulated from January to May represented the highest level for the first five months of the year since 60 in Argentine. The most recent private forecasts collected monthly by the Central Bank indicate that inflation will be 72, 6% this year and 60 % in 2023.

As for the dollar, the price of the American currency in the informal market has broken records, and the country faces the challenge of increasing the its net reserves of US$ 5.8 billion this year, a commitment assumed in the agreement signed in March with the International Monetary Fund (IMF).

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