The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.

Argentina: An unknown quantity

Analysts are pondering the new economy minister’s strategy.

Felisa Miceli: deserves the benefit of the doubt

Investors say that Argentina’s new economy minister should be given the chance to prove herself. Felisa Miceli’s surprise appointment at the end of November was met with uncertainty. Argentine bond prices fell on the news, the Merval equity index lost 5% and the peso weakened a few centavos. Some observers have questioned Miceli’s ability, fearing she might be out of her depth. The 53-year-old was previously head of state-owned Banco de la Nación, the country’s biggest bank, but has no experience of running a ministry. Unlike her predecessor, Roberto Lavagna, she is known to be politically close to president Néstor Kirchner, which has led some analysts to suggest that the president will have too great a say over economic policy. “It’s expected she will be much more cooperative with Kirchner and his political team than Lavagna was,” says Walter Molano, head of research at BCP Securities in Greenwich, Connecticut. He adds, though, that he doesn’t expect to see a big change in policy in the near future.

Raphael Kassin, head of emerging-market fixed income at ABN Amro Asset Management in London, says that Miceli’s political ties to Kirchner are not important.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree