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Fernandez now argues that there is a "conspiracy" between the central bank president Martin Redrado, Vice President Cobos, farmers and the country's media moguls who have begun reporting on corruption in her administration. She has also claimed that Redrado and Cobos are in league with the "vulture funds" and "river rats," as she terms the foreign creditors who hold a large part of the country's debt. "Cobos is the leader of the opposition and wants to be a candidate, but he could be a candidate without conspiring against the government," the President argued this week...

Author: /time Magazine | Title: Argentina's War of Words at the Top | 1/20/2010 | See Source »

...later, Argentina's rapid recovery still has analysts doing double takes. Since President Néstor Kirchner was elected in 2003, annual growth has averaged 9%, the best in Latin America. Argentina has parlayed a cheaper but stable peso into record export earnings. "Argentina," crows Central Bank president Martín Redrado, "is enjoying its most solid macroeconomic context of the past 30 years." In Brazil, Lula's election (and 2006 re-election) did not render the region's largest economy a leftist basket case. Instead, inflation has fallen from 12.5% in 2002 to less than 4% today. Brazil's real...

Author: /time Magazine | Title: Latin America's Peculiar New Strength | 11/15/2007 | See Source »

...prices. But rather than blow a windfall from commodity exports--prices for Argentine products like soybeans have hit all-time highs in recent years--Argentina replenished its foreign reserves (a record $44 billion today), pared debt and built a strong fiscal surplus. "Overspending and overindebtedness caused the crisis," says Redrado, noting that much of that excess occurred, ironically, during the more market-oriented government of President Carlos Menem in the 1990s. "This is no longer a policy of the right or the left. It is common sense...

Author: /time Magazine | Title: Latin America's Peculiar New Strength | 11/15/2007 | See Source »

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