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Argentina: Strikes Cast Shadow Over News of Economic Growth

The building unrest in Argentina that began with workers and teachers’ strikes just after school resumed from the summer holidays reached a crescendo this week with a major general strike that crippled Buenos Aires and other parts of the country. A wide range of workers left their jobs for 24 hours and wreaked havoc across

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Argentina: “Christmas in March”: Economy No Longer in Recession

Just as the Southern Hemisphere heads toward winter, President Mauricio Macri received a jolt of good news – a Christmas gift in March – regarding the trajectory of the Argentine economy. Figures released by INDEC, the national statistics agency, pointed to GDP growth in Q4 2016. INDEC also revised its figures to show the economy

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Argentina: The Public’s Increasingly Negative View of Macri: Looking Toward October

A poll released this month by UdeSa and Ipsos Public Affairs reported deepening negative public perceptions of President Mauricio Macri’s administration. According to the Indicators of Institutional Policy Satisfaction (ISPI), a comprehensive poll that measures public perceptions toward various areas of government, Macri now has an overall approval rating of 45.8%. Diego Reynoso, a UdeSA

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Argentina: Action on Energy: Natural Gas Tariff Increases for April

President Mauricio Macri’s administration has again taken aim at natural gas tariffs. The decision follows the announcements aimed at reducing electricity subsidies for the majority of citizens in Buenos Aires and a deal aimed at boosting natural gas production from the country’s Vaca Muerta shale play (see our 8 February and 18 January Latest Analysis).

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Argentina: Accusation Against Macri: Escalation Potential for Midterm Elections

A prosecutor formally accused President Mauricio Macri of a conflict of interest this week in connection with the recent pardon of $128mn in public debt originally created by his family’s company, Sociedad Macri (SOCMA). In 1997 SOCMA, founded by businessman Franco Macri, the president’s father, won a concession to operate the Argentinean Postal Service, Correos

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Argentina: Keeping the Lights On: Upcoming Electricity Rate Increases

Reducing energy subsidies remains a critical piece of the Macri administration’s efforts to confront a persistent fiscal deficit. In many ways, the issue of energy subsidies was a key component of the internal debates over fiscal and macroeconomic policy heading into 2017, which saw President Mauricio Macri shuffle his cabinet and install a deficit hawk

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Argentina: New Mining Code Highlights Government’s Pro-Market Push

According to local press reports, the government of President Mauricio Macri is in the final stages of negotiating a new mining code that is due to be put up for discussion in early March. The government has reportedly spent the last four months negotiating a deal with provincial authorities. The plan is to use a

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Argentina: New Year, New Cabinet Members

President Mauricio Macri chose the holiday break between Christmas and New Year’s Eve to request the resignation of his finance minister, Alfonso Prat Gay. Macri also announced that the portfolio managed by Prat Gay would be restructured and split into two ministries, with former Finance Secretary Luis Caputo taking the Ministry of Finance portfolio and

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Argentina: Vaca Muerta Labor Pact: Promise and Potential for Disruptions

After months of negotiations, on 10 January President Mauricio Macri announced a major labor pact between the federal government, the government of Neuquen province, oil companies and oil workers to bring down costs and attract investments to the Vaca Muerta field this year. The pact guarantees $5bn in investment in 2017 and a commitment by