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Argentina’s Lebac: A Race Against Time

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Editor’s remarks:
In 2015, President Macri of Argentina had massive public support as he began the task of overhauling the policies of Former President Fernandez and fixing the Argentinian economy. He and his reforms are apparently now on the clock to show some benefits. This week the primary tool of monetary policy, the Lebac, has been cut for the fifth time in a row. The government is hoping to better control inflation after watching it rise drastically earlier this year, and favourable opinion polls simultaneously fall. The inflation rate is expected to reach 2% for the rest of the year according to Cabinet Secretary Mario Quintana. Despite the apparent success of bringing inflation under control and reducing the primary budget gap, Macri will have his hands full with slashing the high unemployment rate and stoking private investment. President Macri appears to be trying his best to see beneficial reforms go through but he will need time and a few more good numbers.

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