Weekly Report - 20 May 2021 (WR-21-20)

Argentina reverts to unorthodox economic policies

Inflation is once again a major source of concern in Argentina. The rapidly rising price of food is of particular concern for the Partido Justicialista (PJ, Peronists) government led by President Alberto Fernández, as this is often a source of public discontent. The Fernández administration has decided to suspend all beef exports temporarily in a bid to stabilise the internal market price of a popular food. This unorthodox economic policy move has been tried before by previous PJ governments, failing to provide a long-term solution to the underlying inflation problem and damaging the economy. Fernández appears prepared to risk repeating this mistake to win votes in November’s midterm elections.

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