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President Fernandez Says Government Will Control Spending

  • Argentine President Alberto Fernandez said Monday that markets should understand that his government is willing to control spending and it will continue to slowly reduce its fiscal deficit.
  • Earlier the country’s newly appointed economy minister, Silvina Batakis, told reporters that Argentina needs to fulfil its agreement with the IMF.
  • She added that Argentina is to implement measures to ensure fiscal balance and will form local debt committee.
    • Argentina are to seek positive real interest rates and the exchange rate is in equilibrium.
    • Argentina will move forward with energy rate hikes
    • Argentina resumed negotiations with Paris Club
    • She declined to give inflation forecast and maintained the official foreign exchange rate is competitive for exporters.

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