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...After months of disagreements, it seems that both he and prime minister Boris Johnson have decided that they are pro-secco....
...They must be treated differently, because a secco painting is soluble in water....
...“To escape the current paralysis and change expectations effectively, we need an integral [economic] programme,” says Mr Secco....
...“The government has lost credibility,” says Mr Secco. “There are many doubts circulating. That is the most worrying consequence” of this crisis, he lamented....
...President Mauricio Macri’s government has sold more than $100bn of bonds on international markets since it came to power two and a half years ago....
...And to think that it might be ineffective, that’s just the worst thing that could happen,” said Luis Secco, an economist....
...Macri insists he wants to remove capital controls and unify the exchange rate, there is disagreement within his camp as to how fast the economy should be opened after more than a decade of isolation from international...
...Luis Secco, an Argentine economist, estimates sales from this year’s harvest will deliver $5.7bn less than last year, largely due to a 26 per cent drop in commodity prices....
...If the plan is approved by Congress, Argentina would enter into a “process whose outcome is very uncertain”, said Luis Secco, an economist in Buenos Aires....
...As Luis Secco, an Argentine economist, points out: “There are never economic or financial crises in Argentina under strong governments....
...“It’s a very positive step in the delayed process of normalising Argentina’s credit status,” said Luis Secco, an economist....
...The move follows a new consumer price index in February showing that inflation was much higher than previously reported, and comes just in time for the International Monetary Fund’s end-of-March deadline...
...Nevertheless, Mr Lorenzino will head a new entity called the Executive Restructuring Unit to oversee attempts at resolving disputes with so-called “holdout” creditors, in a bid to enable Argentina’s return to the international...
...The steps taken so far “can give the impression that the authorities do not have a clear picture of how to manage the situation”, Luis Secco, a Buenos Aires-based economist, said....
...I think the trigger is that the international reserves have reached a minimum level that the government is unwilling to breach....
...Because we have had a strong government,” according to Luis Secco, an economist....
...It needs to be part of the international scenery.”...
...stage Griesa will embargo [the funds] and so some of the performing debt holders will not receive what they are owed in due time and manner – they could argue that Argentina defaulted on them,” said Luis Secco...
...After it emerged that investment vehicles owned by Slim now held 8.4 per cent of the country’s biggest company, YPF (which the government is looking to render respectable in the eyes of international investors...
...Argentina has been cut off from international capital markets since its 2001 default on nearly $100bn. While Argentina had twin budget and trade surpluses, and strong growth, it managed....
...That would require something to light the fuse along with political weakness, Mr Secco said....
...As independent economist Luis Secco puts it: The problem facing Argentina today is that, in a context in which the terms of trade are no longer growing and agricultural production turned out lower than...
...On the other hand, pay rises of 25-30 per cent would risk pushing inflation to 30 per cent this year (from market expectations of around 20), Secco says....
...How much Argentina – which for now remains outside international capital markets – will be able to follow its own advice remains to be seen....
...BerlinBerlinale The 60th annual Berlin International Film Festival begins on Thursday and lasts a fortnight....
International Edition