Brad Budsberg

 

G. Hatch

“Technocrat Seen Reining Argentine Economy,”

Wall Street Journal, 2/20/85

 

Main Point:

The basic argument is that the debt crisis needs to be brought under control and there needs to be careful planning in order to maintain a stable economy while imposing austerity upon the business and labor forces of debtor countries.

 

Summary:

Mr. Sourrouille, newly appointed economy minister, is looked upon as a welcome change and well needed change to help bring about the control of the economy.  Well educated and well planned, the new minister will attempt to lower inflation and meet goals set by the IMF.

 

Mixed Feelings:

As most feel that Mr. Sourrouille is the man to bring control of the economy, his plan of maintaining 1985 wages in inflation-adjusted terms bring doubt.  Despite some doubt, the five-year economic plan was a welcomed attempted proposed by the economy minister.  With pressure from the government as well as business/labor forces, Mr. Sourrouille will attempt to follow through and meet IMF performance goals.