The Economist Miguel Ángel Brodaone of the most listened to by the Argentine establishment, questioned the last steps of the minister-candidate Sergio Massa with his economic advertisements, he considered that “the program is derailed”and warned about the lack of compliance with what was agreed with the International Monetary Fund (IMF).
When participating in the Colloquium of the Industrial Union of Córdoba (UIC), Broda described Massa as a “pyromaniac” and maintained that “he has been doing everything the opposite of what he promised to do” with the IMF when launching the latest measures to put pesos in the pockets of workers and retirees.
“The economic program is derailed and the candidate minister chose to add fuel to the fire, aggravating the legacy for the next government”Broda said. For the economist, the latest announcements make “more difficult to meet the goal committed to the Fund, which was already almost impossible.”
Looking ahead, the economist projected a annual inflation of 180%, and that could continue to rise. Likewise, he predicted a drop of more than 3% in GDP due to lower activity.
“A comprehensive economic program will be needed that should be announced on December 10, with a clear diagnosis, goals, stabilization instruments and the sequence of the reforms that are intended to be implemented, in order to generate the credibility shock necessary to dissolve such a mess,” Broda said, according to the newspaper La Nación.