Argentina’s new economy chief assures IMF of fiscal targets

Argentina's newly appointed Economy Minister Hernan Lacunza listens to President Mauricio Macri during his swearing-in ceremony, at Casa Rosada Presidential Palace in Buenos Aires, on August 20, 2019. Picture: JUAN MABROMATA / AFP

He said his top priority will be to stabilise the peso, which tumbled after Macri, who has run a business-friendly government, was drubbed in an August 11 primary election by Alberto Fernandez. The centre-left Peronist candidate is now expected to defeat Macri in an October 27 general election. “We want to leave a solid economic platform for whichever candidate wins” the presidential election, he said, adding that Argentina had a primary fiscal surplus in July and that he expected a surplus in August as well.

“An IMF staff team will travel to Buenos Aires soon,” the fund said in the statement, which was signed by IMF spokesperson Gerry Rice. Nicolas Dujovne, the former treasury minister, quit on Saturday, saying he believed the country needed “significant renewal” of its economic team.

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