The elected president of Argentina, Javier Milei, defined this Thursday (23) the names of the Minister of Economy and the president of the Central Bank of his future government.
Those chosen for both positions, after a day of intense negotiations in a hotel in Buenos Aires, are Luis “Toto” Caputo and Demián Reidel respectively. The information was confirmed by the Clarín newspaper.
Caputo is an economist and was secretary and minister of Finance and president of the Central Bank during the government of Mauricio Macri (2015-2019).
Reidel is a physicist, economist and researcher at the American University of Harvard and was second vice-president of the Central Bank during the period in which Federico Sturzenegger, whose name was considered to take over the Ministry of Economy, was at the head of the institution (2015–2018 ).
Reidel also has links with the Republican Proposal (PRO), Macri’s party. The former president supported Milei in the second round after his coalition candidate, Patricia Bullrich, came in third place in the first. The former Minister of Security also declared support for the libertarian in the dispute with Peronist Sergio Massa.
Caputo and Reidel will have the tough mission of facing Argentina’s economic crisis: poverty today affects 40% of the population, inflation in October was 142.7% year-on-year and the International Monetary Fund (IMF) projects that the country will have 2023 the sixth GDP contraction in ten years.
Milei’s economic plans include a rigorous fiscal adjustment, privatizations, dollarization of the economy and the end of the Central Bank – although doubts now hover over these last two measures, since the libertarian economist Emilio Ocampo, defender of both, was passed over for the presidency of the Argentine BC.
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