Argentina’s latest economy chief announces new agriculture pick

Argentina’s President of the Chamber of Deputies Sergio Massa leaves after currenting his resignalation in entrance of the Parliament earlier than being sworn-in As a Outcome of the mannequin new Financial system Minister, in Buenos Aires, Argentina August 2, 2022. REUTERS/Agustin Marcarian

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BUENOS AIRES, Aug 2 (Reuters) – Argentina’s incoming economy minister, dubbed a “superminister” As a Outcome of of his expanded portfolio, introduced new secretary picks collectively with for The important factor farm sector on Tuesday, An factor of The federal authorities’s latest bid to reign in a extreme financial disaster.

President Alberto Fernandez tasked congressional chief Sergio Massa with taming surging inflation, authorities spending As properly as to addressing A selection of tax and commerce insurance coverage policies essential to the nation’s powerhouse agricultural sector forward of elections subsequent yr.

A politically savvy lawyer agained by the ruling Peronist coalition’s center-left As properly as to its extra exhausting-line leftist faction, Massa Is predicted to advocate orthodox financial insurance coverage policies Partially As a Outcome of of his previous monitor doc working intently with worldwide buyers.

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On Tuesday, he introduced that Juan Bahillo Can be The mannequin new agriculture secretary, reporting to Massa. Bahillo is a political chief, former federal lawmaker and rural farmer from Entre Rios province.

A minimal Of 1 sector chief voiced assist for Bahillo.

“We hope That He is allowed to carry out and take The options that our farm sector Should take off,” said Carlos Achetoni, president of the FAA agricultural affiliation.

Massa additionally resignaled his lawmaker submit on Tuesday, forward of formally Taking over as economy minister on Wednesday, Which might make him the third such minister in simply the final month.

He additionally introduced that the manufacturing secretary Shall be helmed by industrial chief Jose de Mendiguren, whereas the commerce secretariat Shall be led by economist Matias Tombolini. Each Can additionally Report again to Massa.

Fernandez is betting on The mannequin new Massa-led group To current a So far elusive monetary stability, As properly as to quell a worsening worth spiral That is anticipated to surpass 70% this yr.

South America’s second-largest economy has already seen its poverty price rise to about 40%.