Economics
Cash-Strapped Argentina Goes All or Nothing on New Economy Chief
- Minister has political clout, scored early wins in Washington
- Massa’s presidential ambitions depend on avoiding meltdown
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With inflation approaching 100%, Argentina’s government has bet its political future on a seasoned operator with presidential ambitions, but no economic policy experience, to steer the country out of its latest crisis.
Economy Minister Sergio Massa, who took the job last month, scored some early wins after a week in Washington, landing more financing from the Inter-American Development Bank and speaking briefly on Monday with US Treasury Secretary Janet Yellen, a high-level encounter his predecessors struggled to get. IMF Managing Director Kristalina Georgieva praised Massa’s “strong steps” to stabilize the economy after a separate meeting.