Argentina Forced By Ailing Economy To Change Populist Policies
Argentine President, Cristina Fernandez is reversing some of the populist policies that defined her first six years in power and will have little choice but to stick to the new, more pragmatic path over the remaining 20 months of her final term.
Confronted by falling dollar reserves, a weak economy and high inflation, Fernandez has in the past three months cut heating gas subsidies and let the peso devalue by 18 percent.
She has revamped shoddy official inflation reporting and agreed to pay Spain's Repsol $5 billion for the 2012 nationalization of oil company YPF.
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