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Argentina’s economic signs need further support, analysts say

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In an act held on Monday after taking over from Martín Guzmán on July 4, batakis reaffirmed the commitment to Argentina with the US$ 44,000 million program with the International Monetary Fund. He also promised to make public spending more efficient and freeze hiring in the public sector.

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This is what analysts wrote on Tuesday after their announcements:

  • Daniel Kerner of Eurasia Group

The announcements reflect the continuity of the political measures very much in line with the opinions of the president

Although Vice President Cristina Fernández de Kirchner was decisive in the appointment of Batakis, she is not from his environment or his ideologue

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These measures are unlikely to be effective until it is clear that Cristina and those close to her agree with them.”, Kerner wrote, referring to Vice President Cristina Fernández de Kirchner.

Kirchner’s opposition to the program of the IMF and the differences on the inflation strategy”It means that Batakis will have a hard time complying with these measures and will face strong opposition.”

Raising utility prices will be the “fireproof” of Batakis to implement a policy that Kirchner opposes

  • Debora Reyna of Oxford Economics

Muddle through with gradual adjustments until the next election is no longer an option

Although Batakis reaffirmed her commitment to meeting the program’s spending targets, she was vague on details.

We expect stricter import controls to be imposed

  • Lucila Barbeito and Diego Pereira of JPMorgan Chase & Co.

The fiscal and monetary measures “appear to be aligned to meet both fiscal and monetary objectives, although implementation risks appear as the main challenge”.

Source: Gestion

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