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Weekly Report - 1 March 2012 (WR-12-09)

ARGENTINA: Fernández’s rosy picture turns grim

March will bring many (and serious economic) problems. That is what the local commentariat in Argentina predicted following the government’s November announcements relating to the removal of subsidies, which would have a widespread impact on purchasing power. The administration of President Cristina Fernández is facing myriad other problems including questions raised about the (lack of) enforcement of maintenance in the privately run railway networks, after the country’s third-largest rail tragedy last week; Vice-President Amado Boudou’s alleged corrupt practices [WR-11-08]; the government’s failure to reach a salary agreement, for the first time since 2003, with the teachers’ unions; and fuel shortages, particularly diesel, which have triggered the rumour that, as we go to print on 1 March, Fernández could announce the re-nationalisation of Repsol-YPF.

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