June 1, 2001
Rake-thin Miguelito, the waiter who has plied many an Argentine economy minister with coffee and sandwiches over the years, was working hard on a busy night in late May. He scuttled in and out of Domingo Cavallo's offices on the fifth floor of the ministry, his tray laden with coffee and Cokes.
Protestors in Buenos Aires hurl insults
at the government, which they blame
for the prolonged recession.
Secretaries clicking along the corridors in their high heels hurried in bearing folders and files. Aides occasionally burst out of meetings muttering into cell phones and vanished through another door. Outside,
Argentina's $20 billion debt exchange will give the country time to put its fiscal house in order. But the swap won't address the challenge of reviving long-term economic growth.