{"id":1587778,"date":"2022-08-03T19:24:22","date_gmt":"2022-08-03T23:24:22","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1587778"},"modified":"2022-08-03T19:24:43","modified_gmt":"2022-08-03T23:24:43","slug":"argentinas-massa-sworn-in-as-economy-chief-budget-cuts-expected","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/argentinas-massa-sworn-in-as-economy-chief-budget-cuts-expected\/","title":{"rendered":"Argentina\u2019s Massa sworn in as economy chief, budget cuts expected"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fargentinas-massa-sworn-in-as-economy-chief-budget-cuts-expected%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1587778&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Nicol\u00e1s Misculin<\/p>\n<p>BUENOS AIRES (Reuters) -Argentina\u2019s latest economy minister, Sergio Massa, formally took the reins of his newly-dubbed \u201csuperministry\u201d on Wednesday, with expectations that he will announce spending cuts to calm markets amid a deepening economic crisis.<\/p>\n<p>The South American country\u2019s large fiscal deficit,  exacerbated by years of overspending, raging inflation, high debt and an ailing peso currency all await Massa, Argentina\u2019s third economic chief in just the past month.<\/p>\n<p>A former congressional leader and lawyer from the ruling Peronist coalition, Massa was sworn in by President Alberto Fernandez in Buenos Aires. He was scheduled to give a speech later on Wednesday where new spending cuts as well as measures to boost dwindling foreign reserves are expected to be announced.<\/p>\n<p>Some local markets appeared encouraged on Wednesday ahead of the expected announcements. Argentina\u2019s main S&#038;P Merval stock index closed up 1.43%, just ahead of Massa taking the oath of office.<\/p>\n<p>Sovereign bonds, though, fell 0.4% while the informal black market peso weakened 2.35% to trade at 298 pesos per U.S. dollar.<\/p>\n<p>The center-left governing coalition\u2019s warring factions have united behind Massa, seen by many as perhaps Fernandez\u2019s last chance to stanch economic bleeding that has hurt the government\u2019s popularity ahead of next year\u2019s presidential vote.<\/p>\n<p>\u201cThe economy is in a difficult situation, with a very complicated global context,\u201d Juan Manzur, Fernandez\u2019s chief of staff, told reporters. \u201cBut in spite of all our problems, we have confidence in him.\u201d <\/p>\n<p>Massa is set to lead a vastly expanded economy ministry, in which the agriculture, production and trade secretariats will answer to him. <\/p>\n<p>His ascension to the top economic policy job follows the abrupt resignation of former Economy Minister Martin Guzman in early July, and then Guzman\u2019s successor Silvina Batakis only lasted a few weeks after him in the role.<\/p>\n<p> (Reporting by Nicolas Misculin; Editing by Deepa Babington and Alistair Bell)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2733767\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/tagreuters.com2022binary_LYNXMPEI72102-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI72102-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Nicol\u00e1s Misculin BUENOS AIRES (Reuters) -Argentina\u2019s latest economy minister, Sergio Massa, formally took the reins of his newly-dubbed \u201csuperministry\u201d on Wednesday, with expectations that he will announce spending cuts<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1587778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1587778","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1587778"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1587778\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1587778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1587778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1587778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}