Argentine President Cristina Kirchner's Popularity Plummets

70% of Argentines Disapprove of Populist Leader's Economic Policies

WASHINGTON, Aug. 29, 2012 /PRNewswire-USNewswire/ -- The following is being released by American Task Force Argentina:

President Cristina Kirchner's popularity has fallen dramatically amid worries of high inflation according to Argentine polling company Management & Fit.  Just 30% of Argentinians approve of her handling of the economy, an approval rating that has continued to drop over the last year.   

According to reports, growing public discontent is largely a result of economic contraction and soaring inflation, which has eroded purchasing power. The nation's statistics agency, INDEC, reported an annual inflation rate of 9.9% in July, but private analysts estimate it is running well above 20%.  The Kirchner Administration bans the publication of independent economic data that conflicts with the Government's reports and formally suspended three consumer-focused NGOs this week after they published inflation data that differed from official statistics.

In response to the poll's results ATFA's co-chair Robert Shapiro issued the following statement:

"Argentina's runaway inflation – now among the highest in the world – reflects the degree and depth of the Kirchner Administration's economic mismanagement.  The Argentine people are still suffering from President Kirchner's mismanagement of the debt default and restructuring. The failure to repay the country's debt to private creditors has left the government effectively locked out of the international credit market and has discouraged foreign investment.  Price subsidies and strict currency controls have added to the country's macro-economic problems." 

"It is no surprise that the President's popularity wanes as Argentina's real inflation statistics become known.  These poll results illustrate that the majority of Argentines do not support the government's protectionist and isolationist economic agenda. In addition to losing domestic support, Argentina faces increasing international disdain as well, ranging from numerous WTO complaints to hundreds of outstanding court judgments, which the country refuses to honor."

About the American Task Force Argentina

The American Task Force Argentina (ATFA) is an alliance of organizations united for a just and fair reconciliation of the Argentine government's 2001 debt default and subsequent restructuring. Our members work with lawmakers, the media, and other interested parties to encourage the United States government to vigorously pursue a negotiated settlement with the Argentine government in the interests of American stakeholders.

SOURCE American Task Force Argentina

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