The inflation rate in Argentina is expected to cross the 90% mark by the end of the year. At the top of the priorities of Argentina’s economy minister, Sergio Mesa, are achieving control over rising prices, handling high debt levels and curbing government spending in the second largest economy in South America. He also promised not to call on the central bank to print more money this year to finance government spending.
In July, Martin Guzman resigned as Minister of the Economy, after serving in the position for more than two and a half years. His successor, Silvina Betakis, survived in office for only a month. Earlier this year, Argentina avoided default on a $44 billion IMF loan. But the goals that the Argentine government must meet in order to fulfill the terms of the deal are still a source of concern for many in the country. In recent weeks, demonstrators took to the streets of the capital, Buenos Aires, to protest against President Alberto Fernandez and his handling of the economy.