Sergio Massa, head of the House of Representatives, will face the challenge of curbing inflation and dissatisfaction with a government diminished by internal divisions
The galloping inflation that is dragging Argentina to impoverishment has prompted the president, Alberto Fernández, to carry out the third reorganization of his government in just two months. The Ministry of Economy, the biggest exponent of the prevailing instability in an executive burdened by rifts between the Kirchnerist wing and Peronism, has had three officials in less than 30 days. The last, appointed on Thursday by the head of state, is the head of the Chamber of Deputies, Sergio Massa. But he will not be like his predecessors, but a “super minister” with unprecedented powers to save the country from destruction.
At the age of 50, this lawyer by profession will bring together not only the Economy portfolio, but also that of Productive Development and Agriculture, Livestock and Fisheries. According to the Télam bureau, Fernández’s intention is to achieve “better operation and management”. In short, that Massa has the capacity to take the necessary measures to correct the strong imbalances that threaten growth and hit Argentines hard.
The designation came as thousands of people marched to the Casa Rosada, the seat of the presidency, to demand the establishment of a “universal salary” equal to two basic food baskets, about 67,000 pesos (480 euros) for all low-income people. Increasingly dissatisfied with the Executive’s management, society demands solutions, cornered by one of the highest inflation rates in the world. Evidence of this is that the interest accrued in the first half was already 36.2% and it was only in June that the annualized interest rate rose to 64%. As a result, poverty now reaches 37% of the population.
Although the Peronist General Confederation of Labor welcomed Massa’s appointment, the conservative opposition and even voters on the left doubted his choice. “He’s not a person who inspires confidence,” said Patricia Bullrich, chair of the Republican Proposal, a party that is part of the right-wing alliance Together for Change. The Radical Civic Union and Civic Coalition aligned themselves, assuring that “he has a moral inability to exercise.” Meanwhile, progressive MP Myriam Bregman even described him as “a friend of companies.”
Faced with criticism, Argentina’s president highlighted the “vision, capacity and experience” of his future “super minister”, who cannot take office until “a special session” is convened on Tuesday to appoint the new head of parliament. In any case, Massa is still a fickle and changeable figure, having served as chief of staff in Cristina Kirchner’s mandate from 2008 to 2009, but then became a fierce opponent until he rejoined her to defeat the former Liberal. ruler Mauricio Macri in the 2019 elections.
Massa expected this Friday that he would announce a “set of measures” on Wednesday, a day after his inauguration that will keep the financial and stock markets on their toes. Not in vain, the country also faces a serious currency crisis and is committed to a fiscal adjustment agreed with the International Monetary Fund after refinancing a debt of $ 44,000 million.
The “super minister” will replace Silvina Batakis, who spent just three weeks at the Ministry of Economy and will now become the president of Banco Nación. During his short reign, the price of the US dollar grew by 40% against the Argentine peso. For their part, the hitherto Heads of Development and Agriculture, Daniel Scioli and Julián Domínguez, will leave their respective posts.
The cabinet remodeling was completed with the appointment of Deputy Carlos Castagneto as head of the federal government revenue administration. She replaces Mercedes Marcó del Pont, who will hold the position of Director of Strategic Affairs.
The latest changes in Argentina’s government took place in early July, when Martín Guzmán stepped down as economy minister. A month earlier, Matías Kulfas had left the Productive Development portfolio. Both were men close to the president’s moderate Peronism and were heavily questioned by Vice President Cristina Kirchner.
Source: La Verdad
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