Argentina's farmers have some questions for President-elect Alberto Fernand...
BUENOS AIRES, Argentina - Argentina’s farmers have some questions for President-elect Alberto Fernandez, after the center-left Peronist won a decisive election on Sunday, ousting business-friendly leader Mauricio Macri.
The farming sector is Argentina’s biggest driver of exports and much-needed overseas currency, and will be key as Fernandez looks to right an economy mired in recession for much of the past year and stave off default on rising debts. Alberto Fernandez, who is not related to the former president, is seen as likely to hike levies too to help raise tax incomes needed to trim the country’s deficit and meet obligations under a funding agreement with the International Monetary Fund.
With consumer prices rising at an annual rate of over 50% - and unlikely to come down fast anytime soon - farmers have raised the possibility of a dual exchange rate.Fernandez de Kirchner imposed strict quotas, or limits, on international corn and wheat shipments. The policy was meant to ensure ample domestic food supplies, but did little to keep prices under control.
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