“The definitive action that erases the default.” That is how a jubilant Alfonso Prat-Gay responded to the federal senate’s emphatic support for the government’s bill to resolve the debt crisis with holdout creditors on 31 March. Argentina’s finance minister celebrated the “democratic maturity” of the senate where the political opposition has a large majority. It was a double victory for President Mauricio Macri. Not only did he get support for a bill that aims to end 15 years of pariah status for Argentina in international markets but he also exposed the rifts within the main opposition Partido Justicialista (PJ, Peronists). The holdouts and the PJ were two of the biggest issues casting doubt on the capacity of the ruling Cambiemos coalition to govern the country.End of preview - This article contains approximately 1437 words.
Subscribers: Log in now to read the full article
Not a Subscriber?
Choose from one of the following options