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What Alberto Fernández and Sergio Massa said face to face and the desperate search for tickets


The Minister of Economy accused him of wanting to "deflate" his administration and the President told him that he "sees ghosts." One goes to the United States to get oxygen and the other, extra support from the Treasury.







All this climate is lived in the Casa Rosada and reflects the concern for the delicate economic situation in Argentina.

Cristina mistreats Alberto

and -in private- refers to the President as "an asshole".

Alberto talks about the "imbalances" in the vice president's psyche

and repeats that he is going to give Kirchnerism a death certificate.

The ministers

no longer hide the fights


Aníbal Fernández despises Máximo Kirchner in public and bombards Axel Kicillof.

Kelly Olmos overrules Wado from Pedro.


delirious confrontations

are reflected in one issue: the bad management, the bad government and the serious governance problems of the Casa Rosada.

The question puts -even more- red hot the serious problems of the economy and its main urgency: the absence of dollars and

the crucial shortfall of US$ 20,000 million


It is 20% of annual exports.

Official ineffectiveness conditions everything and even produces delusional facts.

A few weeks ago an official sent a secret memo to the Chief of Staff and to Sergio Massa.

He is a Secretary of State with solid ties to governors and, obviously, a lover of Latin American fantastic literature.

In his text he suggested hiring

Russian planes to launch a battery of "iodine missiles" into the sky


According to this feverish official, those missiles were going to cause rain in Argentina.

The nonsense obviously did not prosper.

The real situation is difficult because it conditions the dollar and keeps speculation open about a possible devaluation.

A secret report from CIARA, the Chamber of the Oil Industry, concludes: truck trips that transport grains dropped 70% and foreign currency income in March was a third of normal.

For the grain companies, the shortfall will be worse: US$ 22,000 million.

This week's measures -at a high cost- 

seek to gain time



confirmed that there are hermetic negotiations, to try to have extra support from the US Treasury.

Jorge Argüello and Massa probe the possibility in the White House.

On Wall Street they insist that the Joe Biden-Alberto meeting is crucial for that objective.

In the US they want to give him political oxygen so that Alberto can finish his term.


Argentina needs tickets


The request for an additional loan could be channeled through the IMF.

Negotiation is not easy.


he is tired of Alberto's ravings and Cristina's rudeness


The Treasury already had a harsh gesture towards both when in March 2022 the US director Elizabeth Shortino abstained when the IMF approved the agreement with Argentina.

For now Sergio Massa wants to offset the genuine dollars with international loans.

An aid from Brazil is explored.

In Panama, it obtained support from the IDB with freely available disbursements for US$ 1,000 million.

The very hard crossing

But the mission ended in

an internal scandal

: the counterpoint that the minister had on his return on Sunday with Alberto Fernández was terrible.

They both raised their voices and told each other everything.

Swear words and harsh bill passes


Massa reproached: "

I played for you and now yours do cheap operations against me."

Alberto replied:

"You only see ghosts everywhere

." It was there when Massa loudly touched on a delicate subject.

"Alberto, don't ever forget that I could have stayed in the Chamber of Deputies,"

he said.

And he closed harshly:

"Calm down waiting for the Legislative Assembly, because your government was falling."


was upset by the memory and counterattacked:

"You will be delirious, no one operates against you."

It was after Massa accused four "albertistas" of fraying his management.

On the list would be Daniel Scioli, Santiago Cafiero.

Miguel Pesce and Antonio Aracre

, the new head of advisors to the President.

In the end, Alberto tried to mend with his minister.

He asked her to lower the decibels and to shut up.

Aracre would have encouraged the discussion on the exchange policy because he promotes an official split and aired it in the market.

It's an idea he's had since he was head honcho at the Chinese cereal company Syngenta.

The question opened an internal debate in the Casa Rosada and that was known throughout the market.

There were versions of all kinds.

Miguel Pesce reacted quickly and told Alberto that he would resign

if he made progress on that proposal.

The issue heated the market.

Exactly when Massa was trying to signal that he would not devalue.

This week's disputed “bond fest” includes that implicit definition. 

The fiddling with the bonds is done because Massa does not want to touch the official exchange rate


It was also a direct response to Aracre: there will be no splitting either.

Now Massa is negotiating with the cereal companies for April a Soybean III dollar.

The proposal is to continue with the "Plan Aguantar"


In Economy they say that the banks support.

They are not united by love but by fear, because an official skid would liquefy the bankers' assets.

But the worst part of the package is the implicit message that the measures can have.

That the market interprets that it is scratching the pot with an extreme measure because

the situation is worse than what everyone believes


So far it hasn't happened.

Dollars stopped rising and some fell.

Bonds continue to fall.

But the opposition did not forgive and accused Massa of taking money from retirees and from banks of having multi-profits.

They coincide with some of Cristina's "gurkas".

On Wednesday the meeting between Massa and the bankers was heavy.

The financiers said that they were going to accompany, but they spoke of the imbalances, changes in the rules of the game and the risk that the measures are interpreted as a "desperate action".

There were Alejandro Butti Pablo, León, Carmen Morillo and Jorge Brito, the new boss of the Macro.

Massa accused the "market" of promoting a devaluation and of taking advantage of the weakness of the BCRA so that

"everything exploits us."

Then, defiantly, he asked:

“Do you want to continue betting on the devaluation?

If they want to fight now, I am going to confront them with a fund to intervene of US$ 35,000 million”.

Bankers are worried about the situation.

On top of that, Juntos accuses them of making “big profits.”

The offensive against Edesur also made the climate rare


The firm did not deal effectively with the unusual heat wave.

Its directors affirm that the Government is “overacting” the offensive: the sweetened intervention has no operational capacity and the request to prohibit its directors from leaving the country was a political exaggeration by the ENRE.

The actions try to please Cristina, Máximo and Axel:

the trio wanted a bigger show with the nationalization


The electricity company is in the process of being sold and Santander as agent bank has already started the operation.

ENEL intends to collect US$189 million and the Italians accuse the government of trying to devalue the sale price.

In politics, it is insisted that behind

this business would be two groups linked to the Casa Rosada

: the Olmos Group and Fabián De Sousa.

But the business volume totally exceeds them and there would be a secret and strong third offer: a consortium made up of Nicky Caputo and the Central American Rolando González Buster.

They were linked by the lobbyist Doris Capurro, with an obscure step in the state YPF.

The question is not yet closed: they are also fighting for the future control of the strategic Chocón.

look too

Kirchnerism is exhausting the illusion of the saving candidacy of Sergio Massa

The role of banana country is getting better and better

Source: clarin

All news articles on 2023-03-24

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