Weekly Report - 17 April 2019 (WR-19-15)

ARGENTINA: Macri faces race against time

Argentina’s President Mauricio Macri is acutely aware that unremitting inflation could scupper his hopes of re-election in October. In the first quarter of the year, inflation reached 11.8%, the national statistics institute (Indec) reported on 16 April, driven by the depreciation of the peso and an increase in utility tariffs, and food and transport costs. As we went to press, the day after these chastening figures were released, Macri announced measures to try and mitigate the biting impact of inflation and give himself a fighting chance of securing re-election.

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