Amid Economic Convulsion, Argentinean Gov't Announces Changes

Amid Economic Convulsion, Argentinean Gov't Announces Changes
Fecha de publicación: 
3 September 2018
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Buenos Aires, Sep 3 (Prensa Latina) In the midst of an economic convulsion hitting Argentina, with a mega-devaluation of the peso that impacts social life, today eyes focus on the measures to be announced by the Government, together with possible changes in the Cabinet.

Much has been speculated this weekend on the busy ins and outs at the presidential Residence of Olivos, where last Saturday, Mauricio Macri summnoned several officials, among them governor of the capital, Horacio Rodriguez Larreta and that of the province of Buenos Aires, Maria Eugenia Vidal.

Meanwhile, today the minister of the Treasury, Nicolas Duvjonem, summoned a press conference where he will announce a package of fiscal measures, while it is also talked of possible changes in the Executive, among them the post of foreign minister which could be assumed by former Minister of Economy, Alfonso Prat-Gay, according to local news media. Dujovne will be in charge of announcing the measures that, according to speculations could include the application of retentions to exports, which already generates strong rejection from agricultural workers and to boost even more asdjustments to the State's structure.

The minister will also go tomorrow to the United States to meet director of the IMF, Christine Lagarde, looking to fix an advancement of the loan extended by the IMF last June for 50 billion dollars.

Also over the weekend circulated news about the possible closing of 12 ministries, among which those of Science and Technology, Culture, Energy and Agribusiness, which would pass to be secretaries of State, together with changes in half of Macri's cabinet.

In the country tension is everywhere, above all among many citizens affected by the drastic rise of the U.S. currency on Thursday, from 34 to 42 pesos, who hurried to withdraw their savings in that currency with the ghost hovering of the so-called 'corralito' that exploded into a great crisis in 2001 which many still remember. In a race against time and the 2019 budget debate around the corner, the Government looks to calm down the situation and will try by all means to reduce the fiscal déficit and prices, while looks point again to what happens at the banks and financial entities this Monday that is quite agitated.

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