Argentina: A New Milonga
Argentina may be the credit international investors hate to love. But one of the most solid economies in the region is on the verge of a positive political transition.
The milonga is a series
of tangos, with partners spinning, thrusting and parrying in
the air. The dances are a sweaty blur, interspaced by short
cortinas that allows the dancers to return to their seats or
exchange partners. Argentina recently completed an exhaustive
milonga, which commenced with economic distress and ended with
one of the strongest expansions in Argentine history.
The election of President Cristina Kirchner on October 28
marked the end of the set and the start of the musical
interlude. However, a new milonga starts on December 10, which
promises to take Argentina in a fresh direction, but with some
of the familiar themes of the previous set.
Argentina is booming. The economy surged 9.2% year-on-year in
August, despite problems in the energy sector. Economic
activity expanded 1.5% month-on-month, and the annual pace of
GDP growth should be above 8.5% year-on-year in 2007 and at
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