Sergio Massa’s swearing-in and first announcements

ARGENTINA - In Brief 04 Aug 2022 by Esteban Fernández Medrano

In a rather brief ceremony, President Alberto Fernández took the oath to Sergio Massa (SM) as Minister of Economy, Production, and Agriculture. The festive atmosphere, accompanied by a large crowd (the press spoke of 500 guests), contrasted with an almost laconic tone of the President and Argentina's complex economic moment. Even though the AF spoke of the need for unity and new opportunities for which he would continue working (implying he would continue to be politically active), there was a certain air of defeat when he recognized that the government was starting a new phase.

The election of Sergio Massa as broad-based Economic Minister represents a power shift towards the third coalition partner, even if Massa did not get the full economic control as he requested in early July.

Recall, that after Martín Guzman's resignation, SM intended to become Chief of Cabinet with control over the Economy Ministries (Economy, Production, Agriculture), Central Bank, and AFIP (local IRS). In short, he aimed at becoming some sort of acting “Prime Minister”.

CFK initially rejected such a suggestion but eventually accepted that SM becomes Minister of Economy, including Production & Agriculture. But CFK placed at the AFIP a man loyal to her (Carlos Daniel Castagneto) and President AF kept his allied Miguel Pesce at the BCRA, even though SM named the BCRA´s vice president, Lisandro Cleri.

Sergio Massa’s announcements

Shortly after 8 pm, on Wednesday, SM announced at the Ministry of Economy some general guidelines and economic measures. Most of them are to be completed over the next weeks. But bef...

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