The economy in Argentina is best described as a “pendulum”, going from loose economic policies in the ‘80s to Washington-consensus liberalisation in the ‘90s and back again under the Kirchner regime. Since the current president Macri took office in December 2015, he has been reversing the policies of his predecessor and has focused on boosting the economy with free-market measures through eliminating currency controls and lowering utility subsidies. In March, the government also announced a US$7.50 per barrel subsidy on exported oil while Brent remained below US$47.50 per barrel to attract foreign investment. Continue reading
THEY both have a volatile relationship with Britain – and now Russia and Argentina look set to further cement their budding relationship.
Argentine President Cristina Fernandez de Kirchner will meet with Russian leader Vladimir Putin at the Kremlin later today, where the pair are expected to sign a string of deals on trade, energy and military cooperation projects.
In particular, the Russian energy giant Gazprom is expected to agree a deal to make energy investments in the South American country with Argentine oil company YPF. Continue reading