Argentine markets held steady on Wednesday, waiting for policy signals from the ...
Argentina’s new economy minister, 37-year-old Martin Guzman, was expected to start laying out plans for the country’s wobbly economy in a press conference at 7 p.m. on Wednesday.“The uncertainty which we have lived with in recent months should begin to clear,” local brokerage Portfolio Personal Investment said in a note.
An IMF spokesman on Wednesday said Guzman had met with the fund’s head, Kristalina Georgieva, in Washington prior to the new government taking office this week. Buenos Aires has been a major issuer of debt, including to overseas creditors, who see the province as a test case for how Argentina will be able to deal overall with talks to restructure around $100 billion of debt amid fears over a default.
Peronist leader Fernandez was sworn in as president on Tuesday, marking a shift to the left for Argentina, Latin America’s No. 3 economy, as the country fights rampant inflation, credit default fears and rising poverty.
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