University of New Mexico UNM Digital Repository NotiSur Latin America Digital Beat (LADB) 3-6-1990 Argentina's Menem to Continue Market Policies Despite Broad Opposition LADB Staff Follow this and additional works at: https://digitalrepository.unm.edu/notisur Recommended Citation LADB Staff. "Argentina's Menem to Continue Market Policies Despite Broad Opposition." (1990). https://digitalrepository.unm.edu/ notisur/4397 This Article is brought to you for free and open access by the Latin America Digital Beat (LADB) at UNM Digital Repository. It has been accepted for inclusion in NotiSur by an authorized administrator of UNM Digital Repository. For more information, please contact
[email protected]. LADB Article Id: 71098 ISSN: 1060-4189 Argentina's Menem to Continue Market Policies Despite Broad Opposition by LADB Staff Category/Department: Argentina Published: 1990-03-06 President Carlos Menem insists that he will not modify his "market-oriented" economic policies, described by some news commentators as Menem's panacea for national economic recovery. Opposition parties and organizations, and many sectors of his own Justicialista (Peronist) party rank and file, are furious. They argue that economic indicators show that the results of his program have been overwhelmingly negative. Moreover, say the critics, economic reality has demonstrated the ridiculous nature of the government's projections, and thus, its policies. In July, when Menem was installed, the dollar exchange rate was 650-655 australs, compared to 5,900-5,980 at closing on Feb. 28. Consumer price level inflation for the month of January was 79.2%. Menem's economic team had predicted a rate of 15% for 1990 as a whole in its letter of intent to the International Monetary Fund.