Argentina’s new Economy Minister Sergio Massa pledged Wednesday night to stop printing money that helps fuel runaway inflation, outlining his strategy to turn around the country’s deepening crisis.
Massa rolled out his economic roadmap after being sworn in by President Alberto Fernandez as the third such minister in a month. Massa’s measures also focused on boosting exports, reducing the country’s fiscal deficit and increasing the central bank’s dwindling reserves.
Massa inherits the enormous challenge of taming inflation that is now over 60% and expected to reach 90% by the end of this year. Cut off from international capital markets, Fernandez’s government has relied on money printing to cover its chronic fiscal deficit.
Al Jazeera’s Teresa Bo reports from Buenos Aires.
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