Liberation postponed

27 October 2010 By Martin Hutchinson

True, the former president designed the statist policies pursued by the country since 2003. But high commodity prices have allowed the economy to prosper despite assaults on property rights and the private sector. Voters may yet again reward bad policy in 2011’s election.

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Context News

Argentina's former president Nestor Kirchner died of a heart attack on Oct. 27. He had been the leading contender to succeed his wife, current president Cristina Fernandez, in the presidential election scheduled for October 2011.

Argentina's portion of the JPMorgan EMBI Plus sovereign bond index tightened 53 basis points to 529 basis points on the news, the tightest level in more than two years.

Argentina's GDP is forecast by the Economist's panel of forecasters to increase 8.3 percent in 2010 and 5.1 percent in 2011, having declined 2.8 percent in 2009. The current account surplus is forecast to be 1.9 percent of GDP in 2010 and the budget deficit 1.3 percent of GDP. Consumer prices, on official data, rose 11.1 percent in the year to September.

Context News

Argentina's portion of the JPMorgan EMBI Plus sovereign bond index tightened 53 basis points to 529 basis points on the news, the tightest level in more than two years.

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