November 29, 2019


1. Alberto Fernandez said he will not ask the IMF for money

President-elect Alberto Fernández warned that with the International Monetary Fund (IMF) he will “sign a single agreement and the first rule is to stop asking for money. In addition, he said he will not “sign agreements that we cannot comply with” and remarked that “we need to reactivate the economy in order to be able to pay and solve the debt problem sensibly”. Finally, he proposed “the economy has been paralyzed for more than two years with a fall in consumption. We must manufacture again, give credits to reactivate production, give money to retirees to consume”.

La Nación: Alberto Fernández dijo que no le pedirá al FMI los US$ 11 mil millones que restan del préstamo

2. Macri and Fernández participated in the same meeting with industrialists

Alberto Fernández participated in the XXV Annual Conference of the Argentine Industrial Union (UIA). The president-elect promised to privilege those who produce and provide employment and “put an end to financial speculation. Fernandez also discussed external debt and renegotiation with the IMF. He reaffirmed that he is not evaluating doing lifts, but he also made it clear again that Argentina needs to grow in order to fulfill its commitments. “We are going to pay the day we have grown; we have produced more, we have exported more and we have obtained the dollars with which we have to pay our debts,” declared the president-elect. On the other side, President Mauricio Macri stressed at the close of the business meeting that during his term “conquests that are a before and an after for all” were achieved. Then, he asked the next government of Alberto Fernandez “to continue working to achieve fiscal balance. In addition, he asked, “move once and for all in a sustainable macroeconomic system,” to meet the needs of “citizens, entrepreneurs, SMEs and large enterprises.

Ámbito Financiero: Las 15 definiciones económicas de Alberto Fernández

3. The City of Buenos Aires presented its cabinet

Horacio Rodríguez Larreta, mayor of Buenos Aires City, presented the list of men and women who will accompany him in his second term of office, starting on December 10th. This is a team with a lot of continuity, few changes required and some modifications that account for the balance of forces with which the mayor intends to govern until 2023. It should be noted that Larreta is the first of the district chiefs to anticipate his cabinet. Seconded by Deputy mayor Diego Santilli, Larreta reconfirmed the coordinating minister and his closest advisor, Felipe Miguel, and the incumbents: Economy and Finance, Martín Mura; Government, Bruno Screnci; Culture, Enrique Avogadro, and Education, Soledad Acuña. He also confirmed changes in the ministries of Public Space (Clara Muzzio), Human Development and Habitat (María Migliore), Economic Development (José Luis Guisti) and Health (Fernán González Bernaldo de Quiró).

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4. The Government expands its financing through the public sector by AR$ 2000 million

For the second time this month, the Government increased the amount to be placed in public bodies through Treasury Bills, which expire in May 2020. On this occasion, it ordered the increase for an original nominal value of AR$ 2000 million, although last November 22, the Government had already expanded the issue for an amount of up to AR$ 7,000 million.

El Cronista: El Gobierno amplía en AR$ 2000 millones su financiamiento a través del sector público

5. The new members of the Senate swore

The Senate renewed a third of its members (24 new senators). The eight districts that voted for their new representatives who will hold office until 2025 (three legislators per district, two for the majority and one for the minority) were Chaco, the City of Buenos Aires, Entre Ríos, Neuquén, Río Negro, Salta, Santiago del Estero and Tierra del Fuego. In the Senate, the new officialism, represented by the Frente de Todos, grew in its number of seats, which will allow it to have its own quorum (more than 37 senators), since it will have 41 senators among its own and allies. On the other hand, the Juntos por el Cambio (Together for Change) inter-block, formed by the coalition led by President Mauricio Macri, will increase its strength from 24 to 29 senators.

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