Argentina’s latest economy minister warns he is no magician

By DANIEL POLITI
Associated Press

BUENOS AIRES, Argentina (AP) — Argentina’s third economy minister in a month has been sworn in, and as his first order of business Sergio Massa is seeking to bring down sky-high expectations for his tackling of the country’s economic woes. At a news conference Wednesday evening, Massa warned that he is neither a “magician nor a savior.” Massa is taking charge of an economy that is suffering from galloping inflation, a shortage of Central Bank foreign currency reserves and a sharp depreciation of the Argentine peso. He is seen as a pro-market moderate who has good relations with the country’s business elite. But Massa will have to play a delicate balancing act in a country where nearly four of every 10 people are poor and there are growing protests calling for more welfare.