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Weekly Report - 09 January 2020 (WR-20-01)

ARGENTINA: Fernández wrestles with economic crisis

President Alberto Fernández argues that such is the scale of the task he faces that his government needs three months just to grasp the exact state of the national economy. Speaking on 31 December, Fernández said that his government had discovered “unpaid debts at every turn”. Its ‘mega package’ of emergency measures, approved by both chambers of the federal congress in the space of 72 hours just before Christmas, is designed to go some way towards setting Argentina on the path to economic recovery, but problems abound. Foremost among these are the pending negotiations with the country’s creditors, but hostility from farming unions to the steep export taxes contained within the ‘mega package’ has also raised the spectre of a repeat of the debilitating 2008 protests.

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