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ARGENTINA da Mind Map: ARGENTINA

1. FOREIGN POLICY

1.1. THE DOMESTIC SCENE

1.1.1. PRESIDENCY OF FERNANDEZ

1.1.1.1. Period marked by disputes about the preservation of political power

1.1.1.2. These internal difficulties focused the attention of the government

1.1.1.2.1. Based on the profile of the official leadership, the personal qualities of the president and the economic situation of the country.

1.1.2. CONFLICT WITH FARMERS SECTORS

1.1.2.1. Originated in changes to taxes on grain exports

1.1.2.2. The reprobation mechanisms, adopted by the farmers, consisted in the blocks of national road and the repeated strikes

1.1.2.2.1. Caused a shortage of agricultural products.

1.1.2.3. The situation polarized the argentinean society and revealed the existence of a dispute between social classes

1.1.2.4. The farmer incident deteriorated the network of alliances

1.1.3. “CRISIS OF THE RESERVES”

1.1.3.1. Means to realize some measures of debt relief policy

1.1.3.1.1. This initiative provoked a strong reaction of opposition politicians

1.1.3.2. The situation caused judical disputes and generated debates within the political class

1.1.4. “MEDIA LAW”

1.1.4.1. Repealed the existing regulations also from the military regime

1.1.4.1.1. Opened a front of struggle with the corporate media.

1.2. THE EXTERNAL DEBT

1.2.1. THE PURPOSE OF THE DEBT POLICY

1.2.1.1. Generating more alternatives for attracting investment

1.2.2. THE KIRCHNER PRESIDENCY

1.2.2.1. Use of free reserves of the Central Bank of Argentina

1.2.2.1.1. Had paid the country debt to the IMF

1.2.2.2. Had also refinanced a debit with the Spanish State

1.2.2.3. Thought that Fernandez administration

1.2.2.3.1. Rejected to the IMF’s intervention in the negotiations.

1.2.3. THE GOVERNMENT

1.2.3.1. Completed the refinancing of the “Préstamos garantizados”

1.2.4. RESTRUCTURING DEAL

1.2.4.1. Involved two successive stages

1.2.4.1.1. A local market for secured loans

1.2.4.1.2. And another for international holders

1.2.5. “VULTURE FUNDS”

1.2.5.1. GDP-coupons with the same conditions as those offered to the institutional holders, but

1.2.5.2. For the institutional investors and the other for the retailers

1.2.6. FERNANDEZ ADMINISTRATION

1.2.6.1. Tried to restructure the remnant of bonds that were in default

1.3. THE HUMAN RIGHTS CAUSE

1.3.1. SOLUTION

1.3.1.1. The problem pending of the investigation of Human Rights violations during the military dictatorship

1.3.1.2. “Law of Equal Marriage”, which extended the civil marriage to gay couples.

1.3.1.3. Combat it should ensure the respect and observance of Human Rights

1.4. NEIGHBOURHOOD

1.4.1. KIRCHNER ADMINISTRATION

1.4.1.1. Dedicated to rebuilding and strengthening links with regional players

1.4.1.1.1. Relationship with Brazil was conceived with an strategic significance and the government

1.4.2. FERNANDEZ ADMINISTRATION

1.4.2.1. MERCOSUR

1.4.2.1.1. Recived a political interpretation that complemented the traditional economic view of the integration process

1.4.2.1.2. The government supported the entry of Venezuela to the regional block

1.4.2.2. The strategic nature of the relationship with Brazil was again reaffirmed

1.4.3. BILATERAL TRADE-BRAZIL

1.4.3.1. The emergence of the Global Financial Crisis offered an opportunity for the two states

1.4.3.1.1. Could unify positions and organize joint action programs

1.4.3.2. The brazilian aspirations faced to resistance of Buenos Aires

1.4.3.2.1. However the relationship had some progress and there were some convergences

1.4.4. BILATERAL TRADE-VENEZUELA

1.4.4.1. Close relationship with the administration of Hugo Chávez

1.4.4.2. Based in both ideological and pragmatic foundations

1.4.4.3. Partner in trade negotiations and a source of external financing

1.4.4.4. The link also presented some episodes of friction.

1.4.4.4.1. “Affair of the suitcase”

1.4.5. LATIN AMERICAN ISSUES

1.4.5.1. UNASUR

1.4.5.1.1. Fernandez administration condemned to destabilize the democracy in Ecuador

1.5. U.S.A

1.5.1. RELATIONS

1.5.1.1. Found a continuous line of action respect to the foreign policy of Kirchner presidency

1.5.1.2. Adverse impact that the linking with Venezuela could generate on the relationship with the U.S

1.5.1.3. The White House supported Argentina’s claim against Iran to provide judicial

1.5.2. THE CRITICISMS

1.5.2.1. Reprobation to economic neo liberalism and the role of international financial institutions, especially the IMF

1.5.2.2. The American countries were betting the last letters to the project FTAA

1.5.2.2.1. The Argentine president, criticized the international vision of the White House in the presence of President Bush.

1.5.2.3. The global economic crisis further stimulated the claims of Argentin presidency

2. REFERENCES

2.1. Menas Associates, 2016 Argentina – New Foreign and Economic Policies Augustin Torres M, 2011 CONICET; The Foreign policy of argentina during the fernandez administration Fernandez, C. (2010 b), Speech at the General Assembly of the United Nations, New York, 09-24-2010.

3. NEW ECONOMIC

3.1. OIL AND GAS SECTOR

3.1.1. RECORD-HIGH PRICES

3.1.1.1. One of the world’s largest reserves of shale oil and, particularly, shale gas

3.1.1.1.1. Began importing ever-greater quantities of hydrocarbon fuels

3.1.2. CRISTINA KIRCHNER

3.1.2.1. Set domestic prices at levels higher than international ones

3.1.2.2. The result is

3.1.2.2.1. That domestic oil and gas producers currently enjoy prices higher than international markets.

3.1.3. NEW ADMINISTRATION

3.1.3.1. Eliminate consumer subsidies and will maintain higher prices for producers

3.1.3.1.1. Reduce demand and increase supply

3.1.3.1.2. Eliminate the energy deficit

3.1.3.2. Oil and gas should have only one price and that it should gradually fall into line with international prices.

3.2. MINING INDUSTRY

3.2.1. PREVIOUS GOVERNMENT

3.2.1.1. Exporters were forced to sell all the foreign exchange

3.2.1.2. Export duties were deducted from those proceeds

3.2.1.2.1. Case of minerals

3.2.2. NEW MEASURES

3.2.2.1. The exchange rate is determinted by the market

3.2.2.1.1. Will naturally adjust for inflation

3.2.2.2. Argentina still has very large reserves which need to be developed.

3.3. ELECTRIC POWER UTILITIES

3.3.1. ARANGUREN

3.3.1.1. He has pledged to move towards ending all subsidies except those that benefit the poorest two million homes

3.3.1.2. Believes the state should stimulate the renewable energy sector including wind power.

3.4. THE MINISTERS

3.4.1. MINISTRY OF ECONOMY

3.4.1.1. President Macri would rather work with a team of ministers coordinated by Chief of Cabinet Marcos Peña.

3.4.1.1.1. “Plan Belgrano” public works programme

3.4.2. MINISTER OF TREASURY AND FINANCE

3.4.2.1. Alfonso Prat Gay

3.4.2.1.1. He has great experience in the private financial markets

4. FOREIGN EXCHANGE MARKET

4.1. EXPORTS

4.1.1. DUTIES AND OTHER RESTRICTIONS

4.1.1.1. Have been eliminated in this sectors:

4.1.1.1.1. Agricultural, minerals other than scrap metal, and industrial products

4.1.2. IMPORTANT EXCEPTIONS

4.1.2.1. Soybeans and soy products

4.1.2.1.1. Exports are very important for the national budget

4.2. IMPORTS

4.2.1. PRESIDENT MACRI

4.2.1.1. Open economy

4.2.1.1.1. The liberation of the foreign exchange market

4.2.1.1.2. System of licenses to maintain some protection for sensitive products

4.2.1.1.3. The elimination of duties and restrictions on exports

4.3. FISCAL POLICY

4.3.1. MACRI STRATEGIES

4.3.1.1. Achieve a reduction in the deficit is the gradual elimination of unjustified subsidies

4.3.1.2. Achieve the reduction of government personnel

4.3.1.3. Achieve the execution of more efficient and transparent public works contracts.

4.3.2. FRIENDLY LEGAL FRAMEWORKS

4.3.2.1. Will probably attract larger investments

4.3.2.1.1. Economy will grow and, the revenues.

4.4. INFLATION

4.4.1. PRINCIPAL AIM

4.4.1.1. To have the consumer price index rise by 20%- 25% percent in 2016

4.4.1.1.1. While all the relative-price adjustments and the elimination of distortions takes place

4.5. DIFFERENT APPROACH

4.5.1. MERCOSUR

4.5.1.1. Cristina Kirchner

4.5.1.1.1. Acquired a political and ideological orientation that almost abandoned its initial aim of building a common market

4.5.1.1.2. The consequence has been the ineffectiveness of negotiations with the European Union

4.5.1.2. President Macri

4.5.1.2.1. Facilitate the reconstruction of weakened links with the West

4.5.1.2.2. Chose Susana Malcorra as his Minister of Foreign Relations

4.5.2. TRUSTWORTHY STATISTICS

4.5.2.1. Before the Kirchners, Argentina enjoyed very good statistics and indices

4.5.2.2. When their populist policies led to accelerating inflation, the Kirchners decided to hide rather than reduce the rate.

4.6. ATTENTION OF INTERNATIONAL COMPANIES

4.6.1. AFTER MAURICIO MACRI'S ELECTION

4.6.1.1. Announced the first major investment project

4.6.1.1.1. Invest US$650 million to fully modernise and automate its factory at Ferreyra

4.6.1.2. Many international garment companies have set up branches or subsidiaries in the region

4.6.1.3. These companies are now watching the new government and are considering re-entering the Argentine market