Fernandez takes centre stage in Argentina
Vaca Muerta shale risks getting stuck in the middle of the new Argentinian president’s political balancing act
Alberto Fernandez plans to rely on development of the Vaca Muerta shale deposits as an engine to boost Argentinian economic growth and prosperity after a decisive victory in the country’s late October presidential election. However, the Vaca Muerta's development will not occur in a vacuum, but within a country immersed in a deep economic crisis. Argentina will end 2019 with an annual GDP decline of 3pc, an annual inflation rate of 55pc, and with 35pc of Argentines living in poverty. The country also has an unsustainable debt burden with more than $50bn due in 2020 alone. And Fernandez will have to balance policies that promote Vaca Muerta development—no price or currency controls, market o
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