Latin America Advisor

A Daily Publication of The Dialogue

What Will Alberto Fernández's Gov't Bring Argentina?

Argentina’s new president, Alberto Fernández, received the presidential sash and baton at his swearing-in on Tuesday from outgoing President Mauricio Macri (L-R). // Photo: Argentine Government. Argentina’s new president, Alberto Fernández, received the presidential sash and baton at his swearing-in on Tuesday from outgoing President Mauricio Macri (L-R). // Photo: Argentine Government.

Alberto Fernández took office as president on Dec. 10, bringing Peronism back to power in Argentina. What can Argentines expect from Fernández as president? What do Fernández’s cabinet picks say about the direction his government is likely to take? How much will his policies differ from those of the previous administration, and does Fernández have the right plans to address Argentina’s economic woes?

Andrés Malamud, senior research fellow at the University of Lisbon’s Institute of Social Science: “In the last 36 years, Argentina boasted eight presidents and 21 economy ministers. These figures convey one success and one failure. The success is democracy: Argentine presidents, whom generals used to oust at gunpoint, are now ousted by the people at the ballot box. The failure is, well, the economy: with poverty rate of more than 35 percent and inflation at 55 percent, growth prospects look dim, and development, illusory. The combination of success and failure makes up for a sort of Argentine miracle: how is it possible that such a dismal economic performance has not eroded democratic stability? A possible, worrying answer is: not yet. Fernández’s cabinet picks show how aware he is of the ticking bomb he has sat upon. His most urgent task is to renegotiate an unpayable foreign debt, lest there should be another sovereign default. Fittingly, he appointed as minister of the economy a young expert in debt restructuring that has worked closely to Joseph Stiglitz. Also, he must prevent a social explosion by rapidly restarting growth or, at least, domestic consumption. To this end, he has appointed his closest economic aide as minister of production, while at the same time establishing cushion networks with churches and social organizations. Finally, he must…”

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The Inter-American Dialogue publishes the Latin America Advisor every business day for a distinguished membership of informed corporate leaders, scholars, and government officials invested in Latin America’s development and future. The Advisor‘s highly regarded Q&A section covers questions submitted by subscribers themselves. Commentators regularly include heads of state, business leaders, diplomats, economists, analysts, and thought leaders from around the world. Many of the world’s largest and fastest-growing companies subscribe to the Advisor. To subscribe click here or for more information, contact Erik Brand, publisher of the Advisor, at ebrand@thedialogue.org.


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