Listen: Argentina's economy minister resigns as peso sheds value
"Welcome to the program. I'm joined today by john everard former u._k. Ambassador to uruguay and north korea among others and victor boomer thomas associate fellow at chatham house. We will begin in latin america where argentine president maurizio mockeries political and economic woes have deepened the embattled leader having just suffered a loss in eight national election primary hi. Mary has also lost his economy minister over the weekend. Argentina's economy is currently in recession and posted a twenty two percent inflation rate over the first six months of two thousand nineteen victor. I'll start with you. <hes> first of all our macrey states numbered probably but <hes> it may be just a little bit premature sure because it for when we get to october and we have the elections the opposition candidate alberto fernandez would either have to get more than forty five percent in the first round or more than forty percent and a ten point margin over his <hes> challenge. I mccray we assume you you can't assume that just because of the results <hes> a week ago so yes he's probably on the way out and frankly probably deserves to be on the way bad but people should not jump to quick conclusions. I want to look at some of the reaction from around south america in a moment but <hes> john <hes>. I wonder what the bigger concern is here for macrey in the country his defeat in the polls or the country country's worsening economic situation at this point well. Yes <hes> worsening a very polite word down. I think to fifty five to the dollar. I i remember when it was deployed a par with the dollar. That's a long time ago course teddy enormous concern. The <hes> electoral results sent shockwaves not just with the intel community of people will our junking argentine bonds as they can but it goes the washington society. I <hes> this causes huge stress for ordinary. Ardent won't what's going to happen to their lives and how they're going to get through yet another economic storm. If you are a mountain time of say a cough my age <hes> you've been through at least four these crisis before and every reports come out worse at the end of them so they'll be widespread fear we mentioned <hes> that's a mockery is in trouble in the polls and his political days could be numbered. I'm i'm wondering about his <hes> his opposition in this election should he be named <hes> albert fernandez. <hes> i wondering about <hes> how fernandez will fare in this if we expect him to win or is that a strong prospect at this point yes it is <hes> it's not so much <hes> that that argentines have fallen in love with <hes> alberto fernandez nor indeed necessarily with his vice presidential candidate the former president cristina in a kitchener different unders. It's more that macrey has been such a dreadful president <hes> he made aras right from the start and anyone who thought not was going to be <hes> a very <hes> experienced and talented individual in presidency was seriously <hes> at era because he had very little political experience he'd been married one sorry but as we know from london you can be married for city but that doesn't necessarily early make great <hes> head of government <hes> and of course he dud he he did what you should never do and that is <hes> go to ah the i._m._f. <hes> too late if you're going to go to the i._m._f. You should do it early on."