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Economy & Business - April 2011 (ISSN 1741-7430)

ARGENTINA: OK, for now

It is all but certain that the economy will get through to the October 2011 presidential elections without hitting problems. The government's latest stunt - using the nationalised pension fund's stakes in big businesses to appoint pro-government directors to company boards - should have alarmed foreign investors more than it appears to have. Coupled with the it's longstanding meddling with inflation data, the moves suggests that the government wants to impose its political will on every aspect of economic life. This outlook means, inevitably, that a market cannot function because political calculation dominates everything.

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