Bruno Binetti is a non-resident research fellow with the office of the president at the Inter-American Dialogue. He was previously a research assistant at the Woodrow Wilson Center for International Scholars and has also worked as a legislative aide in the Argentine Congress. Binetti holds a BA in international studies from Torcuato Di Tella University and an MA in international affairs and development from George Washington University’s Elliott School of International Affairs, where he was a Fulbright Scholar. He writes on Latin American political and economic trends and China- Latin America relations and has taught courses at Torcuato Di Tella University and the Catholic University of Argentina.
Relations between the four members of South America’s Mercosur trade bloc—Argentina, Brazil, Paraguay and Uruguay—are at their worst since the group’s establishment three decades ago. If the bloc is not up to the task of adapting to the 21st century, it may be time to set its members free to pursue their own trade and development goals.
Bruno Binetti, investigador no residente del Diálogo Interamericano, participó en una sesión académica organizada por el Comité de Estados Unidos del Consejo Argentino para las Relaciones Internacionales (CARI) acerca de los primeros 100 días de la administración Biden.
Mauricio Macri’s failure confirms that there seems to be no politically sustainable way to open up and reform Argentina’s economy. The long-term benefits of liberalizing, improving competitiveness and reducing fiscal spending might be clear in theory, but the immediate social costs of these policies are simply too high for Argentines to bear.
To his credit, [President] Fernandez allowed [Minister of Economy] Guzman to put forward cuts to populist public utility subsidies, streamline the pension system and cool the money presses that feed Argentina’s 40% inflation rate. But [Vice President] Fernandez de Kirchner scotched those market-soothing measures, essentially relegating Fernandez and Guzman as her Men Friday.
No hay que exagerar la importancia del cambio de gobierno en EEUU para las negociaciones de Argentina con el FMI. Nadie en EEUU quiere un default argentino, sobre todo cuando hay preocupación por el nivel de deuda de otros países emergentes, pero el Tesoro no va a presionar al Fondo para que acepte un acuerdo a cualquier precio.