New Minister, old problems, same policy dilemmas

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New Minister, old problems, same policy dilemmas

August 2022

This has been a hectic period in Argentina. Minister Batakis had a short interregnum in which she made the right announcements, but markets did not believe she could deliver. The currency depreciated sharply in the free markets, Argentina’s country risk increased, and the government became nervous.  After just three weeks in her position and a trip to Washington to introduce herself to the IMF and the US Treasury, she was replaced by Sergio Massa, a lawyer with good connections within the government coalition, including with Cristina and Máximo Kirchner, and with the business community.