Blowing Hot and Cold at the Same Time: Moreno Resigned, Kicillof Economic Minister

ARGENTINA - Report 20 Nov 2013 by Esteban Fernández Medrano
As we mentioned in our market brief of October 28[1], there were rumors that Hernán Lorenzino would step down as Economic Minister and be replaced by Vice Minister Axel Kicillof. The rumors speculated that the change would be announced once Cristina Fernández de Kirchner returned from her medical leave of absence. With her return to work on Monday after six weeks, the President officially confirmed these rumors. But she went a few steps further: she appointed Jorge Capitanich, an experienced, more market-oriented politician than Kicillof, as Chief of Cabinet. Furthermore, she accepted, late...

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