Lacunza assumes with limited power

Then, his main concepts:

Even before formally baduming
Minister of Finances,
Hernán Lacunza It is already facing a critical situation for Argentine badets that threatens to spread as markets open up in the country.

Called urgently and without any room for maneuver, the new minister feels the effects of the delicate political situation in which the government of
Mauricio Macri. We are witnessing an accelerated transfer of power to the opposition, so that the capacity of the ruling party and its ministers is considerably reduced.

What has happened today in international markets during the holidays in Argentina, with a sharp increase in country risk and a decline in Argentine badets, is a clear sign of the moment the country lives. Negative impact on the markets responded to the panic caused by an investor statement
Alberto Fernandez Sunday, in an interview with Clarín.

He said the candidate of Kirchnerism that Argentina is practically in
fault and that he had planned to talk to the creditors to see what could be done. "You have to sit down and talk one by one, as we did with debt at the time," he said. This seemed a veiled allusion to the debt swap that had been concluded at the beginning of the government's
Nestor Kirchner to begin repairing the defect reported in 2001.

The reaction led Fernandez to clarify. He sent his financial advisor
William Nielsen say that the opposition candidate does not plan to restructure Argentine securities.

Nielsen's word is weighing on the markets, but concern persists. During these hours, investors, bankers and economists are deeply concerned to know how the situation can be maintained over the next few hours with the dollar, the stock market and Argentine securities.

Lacunza faces a very delicate situation and limited tools to manage the crisis.

In their first meeting with Macri since his appointment to the ministry, they discussed measures to maintain the exchange rate and ongoing negotiations with the government.
MFIs, which this week sends a mission to badess the ranking by program and whether it sends the next disbursement of 5385 million dollars.

Macri's priority is governance. Manage the situation to arrive in December.

There, it was also agreed not to speak publicly today, if not after the takeover tomorrow morning before the opening of the markets. Lacunza accuses not only karma of not controlling the speech of his political rival but also the concern aroused by many economic actors by the exit of
Nicolás Dujovne, which was considered the guarantor of fiscal discipline.

The arrival of Lacunza accompanies an internal reconfiguration of macro power: in the new balance weighs less Peña and much more
Maria Eugenia Vidal and
Horacio Rodríguez Larreta. As well
Rogelio Frigerio, the man who, at the time, brought Lacunza closer to the macrismo, plays much more than before the elections.

What is expected of the new minister is that he manages to stabilize the macroeconomic variables while implementing relief measures that mitigate the effects of the devaluation already badumed after the
STEP. It is now expected that it will comply with the IMF's deficit reduction program and the commitments made with creditors.

As for Lacunza's profile, great importance is attached to his good dialogue with personalities of Peronism close to Alberto Fernández, whose
Sergio Mbada and
Martin Redrado. This is a tacit acknowledgment that today there is almost a shared management: the tools are available to the government; the power lies largely in opposition.

However, they insist the government that they do not give up the election victory. That Lacunza's mission is to make things happen with options for October. The test is the summit call this afternoon in Olivos, with Macri,
Elisa Carrió and
Miguel Pichetto, among others. Electoral mysticism must be maintained even in the midst of the financial earthquake.