The Intelligence from The Economist Running into debt: Argentina’s new president
Dec 10, 2019
David Smith, an Economist correspondent in Argentina, and Callum Williams, a senior economics writer, dive into Argentina's political landscape under its new president. They discuss the unprecedented peaceful transfer of power, highlighting the daunting economic challenges ahead, such as soaring inflation. The conversation explores the rise of radical-left ideas among millennials and the comparisons to earlier socialist movements. They also touch on innovative strategies to revamp American mega-malls in the face of e-commerce competition.
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Argentina's New Cabinet
- Argentina's new cabinet blends familiar Peronist figures with new faces, particularly in the Treasury Ministry.
- This mix suggests a potential blend of established political influence and fresh economic thinking.
Economic Strategy
- The new Argentine government prioritizes domestic economic growth to address debt repayment.
- They aim to convince the IMF to allow them time to stabilize the economy before focusing on debt.
IMF's Dilemma
- Argentina's request for a two-year delay on IMF loan repayment puts the IMF in a difficult position.
- The IMF faces criticism for its handling of the Argentine crisis and its large loan.
