Argentina has a new Economic Minister -- the third since the Peronist Government returned to power in 1973.
GV EXT. Government House
SV & CUs Rodrigo being greeted by people after swearing in (4 shots)
GV PAN (2 shots) cars queuing for petrol.
SV ZOOM OUT & CU Vehicle being filled petrol bowser in operation (2 shots)
SV ZOOM INTO CU & MV Empty petrol pumps (3 shots)
Initials BJB/1845 BJB/1855
Script is copyright Reuters Limited. All rights reserved
Background: Argentina has a new Economic Minister -- the third since the Peronist Government returned to power in 1973.
Sonor Celestino Rodrigo, a 60-year-old industrial engineer, was sworn into office in Buenos Aires on Monday (2 June). His predecessor had retained his portfolio for only seven months.
Senor Rodrigo immediately promised severe short-term measures to rescue Argentina's beleaguered economy. Inflation has been running at a rate of 80%.
On Thursday (5 June) he delivered his first dose to arrest the economic decline -- the devaluation of the peso by 50% ... the currency's second downgrading in barely three months. The new rate is 30 pesos to the American dollar.
He also ordered massive rises in the price of petrol, electricity and gas and the devaluation made international air fares doubly expensive.
Newspapers in Buenos Aires had been forecasting the replacement of previous Economics Minister Alfredo Gomez Morales and the price increases. Petrol pumps were left dry after car-owners rushed to service stations to buy the last of the cheap petrol.