With the growing social anger, how is he going to convince the people if he is up for reelection?
President Mauricio Macri, coming close to the completion of his first term in his position as Argentina’s President, is preparing for reelection this year. But, how is he going to pursue that with the economy still in disorder?
The economy only shows a totally opposite scenario of what he had imagined during his campaign that promises “poverty zero”. His administration didn’t even manage to decrease the inflation in which he said before was “super easy” to attain.
Argentina instead incorporated with International Monetary Fund. It was just recently that the Argentinian government was allowed by the organization to access another buck in support in “mitigating the social impact” which also includes the recently announced increase in social spending. Is it really his concern or his way to placate his electorate?
Though the IMF’s support is a positive impact, it didn’t cease Argentina’s currency from dropping up to the worst case, basing on the last year’s economic performance against the US dollar.
It wasn’t just the low or weak currency but also the production, employment, wages and consumption that have fallen. By giving the privilege to the most concentrated and internationalized economic sectors with the expense of the economy of the country, it paved the way in placing the government into an economic disaster.
In just 3 years, Argentina had come to a point where it had to go with the top rescue package financing deal with the IMF that caused Argentina to be among the most indebted countries in Latin America.
Other than that, poverty has grown along with the unemployment rate and it won’t be long to get higher taken into account the unending destruction of employment in various industrial companies.
To characterize his economic experiment is still in an ongoing debate. In the coming reelection, Macri and Lagarde will try to convince the voters that the country is on the verge to prosperity without such resources. With the agenda of restoring “normality” and his aims in “fighting corruption”, is it enough to manage the mounting social anger and gain the trust of the voters to reelect Mr. Macri once again?