Silvina Patakis, Argentina’s new Economy Minister

July 4, 2022 | 9:55 am

Silvina Patakis Arrives at the head of the Ministry of Economy in Argentina In the middle of the crisis, with inflation exceeding 60%, high fiscal deficits, growing fears of debt default and the peso anticipating a devaluation.

according to ReutersAnd the The 53-year-old is likely to bring a new style to the position of finance minister, after an economist Martin Guzman He resigned abruptly after clashes with the hard-line wing of the ruling coalition.

Born in the Tierra del Fuego region, Patakis was the economy minister of Argentina’s largest and wealthiest province, Buenos Aires, between 2011 and 2015 under the then-governor. Daniel ScioliWho is now the Minister of National Production. In her last job, she was a senior government employee in the Ministry of the Interior.

The graduate in finance and economics is more in line with the hard-line wing of the ruling Biruni coalition around the vice president Cristina Fernandez by Kirchnerwho publicly clashed with Guzmán over his stricter financial policy.

This wing wants more public expenditure To help alleviate high levels of poverty, despite targets contained in a new $44 billion deal with the International Monetary Fund (International Monetary Fund) to reduce the fiscal deficit, increase reserves, and reduce central bank financing.

There is no decent poverty

Patakis wrote in a pinned post on his Twitter account.

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Patakis, “a person of great humanity”

Daniel Scioli shared on Twitter that Patakis is a person of great human quality and extensive professional training, as well as a person Worker With a great sense of responsibility.

The new minister obtained a bachelor’s degree in economics from Argentina’s National University of La Plata in 1993 and a master’s degree in public finance. He also holds a master’s degree in environmental economics from York UniversityUnited kingdom.

Meanwhile, investors are increasingly concerned about it Argentina Unable to meet its debt obligations amid rising energy import costs absorbing foreign exchange reserves and inflation linked to rising global prices.

Strict currency controls have boosted popular alternative currency markets for buying dollars, where people are willing to pay twice the official rate for dollars, a trend that distorts trade prices and encourages inflation.

Argentina has agreed targets with the International Monetary Fund as part of a 30-month program and needs to renegotiate a $2 billion debt deal with the Paris Club group of sovereign lenders. Guzman was expected to travel to France for talks this week.

Matthias CarrugatiAn economist at Consultora Seido said on Twitter that President Alberto Fernandez appears to have ceded control of the economy to his vice-president’s suite, although Patakis still needs to set his political vision.

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Now we have a minister, but we still don’t have an economic plan

He said.

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