No matter how you take it aljazeera will bring you the news and Current Affairs the matter to aljazeera. Can they lead argentina from financial ruin voters elect a new president and a familiar face as his deputy the can they succeed when many others have failed and sold decades of economic crisis this is inside story. A welcome to the program and has a seeker arjen times have voted overwhelmingly for change and are looking to alberta too often and is to steer them out of a critical ing economic crisis the president ial election result there marks a shift back to left wing politics in south america following right wing victories in brazil colombia and shelley argent tines rejected the austerity measures of president. His conservative policies fail to stop the slide towards another massive bailout from the International Monetary fund with former leader Cristina Fernandez de kirchner running alongside him as Vice President the new leader also seems to offer arjun tines a return to the pasta well hear more about the challenges ahead but 1st said i sub 0 reports from when a sars. A party when a site is to celebrate the victory of over the for a man this and the defeat of precedent. Only listened leonsis shes proud of the result. Yes yes yes yes all my life ive been fighting for social justice in the past 4 years have been torture for me seeing how the Economic Situation deteriorated because of mccray now i can be proud of being argentinian again. People here are celebrating the comeback of their parents body ok that was already who they hope will help argentina cope with what coming next to that difficult Economic Situation with a 55 Percent Inflation rate and the possibility of a default in the 4 and that a lot of the fundamentalists was chief of staff to former president. His running mate he still time pressing Cristina Fernandez the kershner a lot of a man this went from being a staunch critic of Christina Kirshner to joining forces with her in order to unite the Peronist Party to defeat marketing. Until december 10th the president is mockery and of course we will collaborate on everything we can because the only thing we care about is that argentinians stop suffering. When elected in 2015. Promised to fall of argentinas endemic economic problems but his plan did not work out well as his government was forced to request an emergency loan from the i. M. F. And inflation and poverty increased while in office you know for this. I want to congratulate president elect our berto fernandez i just told him for the great choice the people have made on voice of him to morrow to breakfast because he has to start a transition period please this is for argentina the orderly transition the brings tranquility to all arjun times because here the only important thing is the future and well being of argentines the big question in argentina is whats coming next the question then becomes of the what next are we going to see an economic plan are we going to see a cabinet and who will be in charge of that crucial renegotiation with argentine creditors. The new president takes office in december but argentina needs an urgent plan to stabilize the economy this people want to believe the best is yet to come. He said will win a situs. Argentina is the 3rd largest economy in latin america but it is in deep foreign debt including a record 55000000000. 00 bailout from the i. M. F. Last year argentinas public debt to g. D. P. Ratio rose to 86 percent last year mostly because of currency depreciation the argentine peso lost more than half of its value last year and the state for its continued this year the central bank has Just Announced stricter controls on buying dollars for the inflation rate is one of the highest in the world and around 55 percent around a 3rd of argentinas 45000000. 00 people are classed as poor the official Unemployment Rate is 10 percent but the unofficial rate is thought to be much higher. Well lets bring in our guest now to talk more about this alan simulates is chairman of the Political Economy Department at the university thad nastier now out there sunny in tow he joins us via skype now from when assad is in london we have bruno been at the nonresident fellow at the interamerican dialogue thats a think tank based in the u. S. Capital and you saw her a little bit earlier into races report there he managed blanco head of the Latin American Research at the global Risk Consultancy vet isc maple croft you also joins us via skype from the arjun tiny capital good to have you all with us so. Alan sipress let me start with you then is this a rejection of machree or a vote for for now and is. I would say its both its a rejection of 4 years of economic decline. Drops in the real wage of economic recession high inflation growing unemployment. Growing poverty and hunger so it is definitely a rejection of that and it is also a vote for amanda this. In a way remember a some of the policies implemented during d the 12 years of the ministrations that focus mostly on the internal lot of kids on Economic Growth on reducing unemployment and increasing consumption through real wage gains humana blanco whats your whats your view on this and what does what does mr fernandez bring to this now i mean there isnt too much of this known about him at least outside of argentina. Yes i would largely agree with that analysis of what people voted for and against i think that the birth of fernandez himself also brings people back to the beginning of the kitchener administrations chris rice to power was in a way also a rejection to the kitcheners that ministrations so its in a way very confusing for external viewers to understand that you know rejecting the care centers brought mockery to power and then mockeries rejection brings christina kishner s. V. P. Back to the executive without the for none this heading it but i think what people are looking for is the heydays of care scenary smart the beginning of the administration with the cut the economy was growing quickly coming out of the 2002 to fold when Commodity Prices were high internationally when domestic consumption picked up pace quite quickly but the context that fernandes is coming into. Globally is very different from the world that nester kiersten or came into in 2003. Broun ability why did marquise policies not work then. Thats what everyone is trying to to understand it was a combination of things there was. Exceedingly confidence and the fact that mike lee had won would immediately bring Foreign Investment to the country that didnt happen and the capitals that didnt or were mostly short term capitals that fled as soon as conditions changed. On the other hand there were inconsistency among the fiscal and monetary policy. Some would say that a real plan to tame the public deficit didnt start until they were forced to turn to the International Monetary fund there were also talk about how the Market Ministry ssion interfered with the central bank. So they were now i think many possible theories about why that mike rieves market reforms ended up failing alan simmons what about the christina factor in this election if i if i could put it that that way Cristina Fernandez the question is on the running as hes Vice President on that ticket former president herself a lot of arjen times when you when you talk to them they said they were voting essentially for her i mean how much was she a boost to Alberto Fernandez in his victory. Yes ill answer that question. But i just wanted to say on your previous question. That the policy set that mockery tried to implement and indeed implemented hasnt really worked anywhere in the world its the typical i. M. F. Austerity type measures which you can do more quickly or less quickly or more in depth or less in depth but the truth is they havent worked anywhere now to get to the good you know. Hes good enough factor and take it i think youre going to see you know basically. On the one hand garrett was the Opposition Leader that had the greatest percentage of votes basically she had at between 30 and 35 percent according to most homes so that if you know his presence on the ticket guarantees that those voters are was a move to guarantee that those photos would vote for the freedom nondestructive. And so i decide i think thats important i also think that for a non this is a politician in his own rights and he was able to we. Front a political front that included many sectors that would not have voted focus dina had she be the candidate so i think it was in a way a win win situation in that you had the core going to vote plus many of the votes that were added to the front thanks to this is the time on this is very able political negotiations and the other things yeah he meant to blanco i want to talk more liberal on the personality issues in all of this because Christina Fernandes for all of her popularity she was also a very divisive figure wasnt she i mean she was she was a popular president at least initially but she left under a cloud of questions about corruption. And so on and and perhaps was that the reason why she didnt she didnt run for president. Well i think you know youre touching on a very interesting point which is the various factions and political movements that are included in the friend dulles peronist coalition because some of christinas biggest attractors and critics are today her electoral allies and fellow victors in last nights election and that brings the question of what happens when we remove the union factor that was defeating mockery so my creep brought unity in the sense that it was a Common Objective of defeating his government and returning to power but of course as we start seeing now the new administration take shape the appointment of havenot members the composition of congressional leadership negotiations with peronist governors who are not in all cases aligned with christina kitchener then i think were going to start seeing tensions emerge within the future Ruling Coalition and the question will be how will the front end this balance all these tensions i think you know christina care she. Chose to to run with him on the ticket and effectively nominated him president ial candidate because he recognized his ability to talk and dialogue across the variety of peronist factions the question will be how moderate will he be when he reaches government or how much will he depend on the support of the more left leaning kishner faction of the party room to bonaire to you joining us from london of course big Financial Capital what how are our Foreign Investors going to be looking at this and this seemingly new year in argentina in. I think markets were expecting back in august when the primary elections took place they were expecting a bigger turnout for markey that didnt happen they entered panic mode and i think where theyre looking for are signs that furman this which youve been seeing is a relative moderate within this coalition will in effect be the one making the decisions and not his Vice President i think theyre going to be looking at who is fighting on this appointing as ministry of the treasury of course what his approach is going to be like regarding the renegotiation of the 4 in that. Whether he accepts that the conditions of the economy will largely dictate. Policies that might not be that different from those market he has been implementing so i think they will start looking for signs of moderation in fernandez and signs that he has in fact. Well thought economic plan to tackle this crisis well lets talk a little more about those economic plans then and as much as we know about them and since we havent heard much in the way of specific proposals from Alberta Fernandez about what he would do differently what what does he need to do in your view to to get argentina out of this economic crisis. Yes he has made some sort of very broad proposals during the campaign for example to help retired people whos retired pensions have really dropped very substantially during the marketeers. Both juhu to very high inflation an increase in costs and also due to d. Pension refreshen if you will through state policies so i think there would be policies aimed at boosting both pensions and also access to medicine has been another retired people theres been another another factor also to go to the poorest of the poor who receive sort of basic income type subsidy i believe those would be increasing as well on the on one of the main restrictions probably to the magnet ministration is is the huge public debt that machiavelli is he basically doubled it in 4 years part of that debt is with the i. M. F. That of course always imposes these restrictions that we all know about weve seen it in greece weve seen it in argentina before weve seen it and but all right cetera so those negotiations i think are going to be key to maybe be able to push out into the future to restructure with a d longer payment schedule i dont anticipate too many problems with private creditors even though i think that will be a complicated negotiation i think the most difficult negotiation will be with the i. M. F. And then there are policies that need to happen to get the domestic market functioning again argentina is in a deep recession with high unemployment very high poverty rates on hunger and so what needs to happen is the economy needs to start working again. And finally what also needs to happen is argentina needs to engage in long term at least medium to long term policy structural changes d to promote exports sectors d that generate exports of higher value added and that is another thing that that might get is economists have been talking about so i think it is a multipronged approach that has hunger and economic recession domestic recession and the external debt as probably the main immediate aspects but of course there are also sort of long medium and long term aspects as well that they have talked about and been looking at him in a blanket whats your perspective then on what the new government needs to do to try to steer. Out of out of this economic crisis. Well i think you know the 1st part is obviously the renegotiation of the debt largely because a large chunk of argentinas foreign debt is to you that the Service Payments are due in 2020 so we take roughly a ballpark figure of 100000000000. 00 of debt 29000000000. 00 of that falls to next year and theres a crunch point coming up in march so the clock is ticking the good news for markets and for investors is that having a result in the 1st round makes the transition longer and so it already you know it ends the electoral period it gives the new administration the chance to start working right away so well well have to wait and see you know what the Economic Team proposes and how it tackles this negotiation i think the you know voters have really voted him against austerity and in favor of policies that do you address a Poverty Reduction and and the support of as we were mentioning before pensioners and and the low income households the quick the big question is how do you bankroll this without external financing or without expanding your Monetary Base significantly and pushing up inflation even further i think its really important maybe to compare and contrast what argentina and chile are going through at the moment because weve seen you know major protests in chile over the past couple of weeks talking about Wealth Distribution and inequality in the country the difference the key difference i see is that in chile its a debate about how to distribute effectively wealth that has been generated and in argentina where having a discussion about how to distribute wealth that yes yet to be generated because the country is in a deep recession and it hasnt really. Grown in real terms for many decades its always recovering from a crisis so i think we you know the key question is how will ill bet at the front on this generate that growth and that wealth in order to distribute it amongst the poorest if i come back then to prune a b. Net obviously each each country in south america has its has its own issues to deal with but we mention of that of the top there how. Did the victory of the peronne as in argentina largely a left wing movements kind of goes against the political winds in south america with the. Right wing governments in brazil colombia and chile what do you what do you make of that what you make of that contrast i think were experiencing great political diversity in south america which of course is the find by polarization by citizens being angry towards incumbents of all political stripes. I think we have of course a tendency of extremes in some countries to rise which is the case of brazil but i dont think we are perceiving or seeing a new wave towards the left i think each country has particular its particular political systems of course the Common Thread is the end of the commodity boom. Around 2013 and the fact that governments whether from the rape or from the left have been incapable of rekindling Economic Growth and returning to the amazing wrote rates south america enjoyed of in the early 2000 and uncivil so how do you view whats happened in argentina in terms of the larger regional context then. Well i differ slightly for from the. Description i do think there is perhaps irony. Expression of anti and neo liberalism happening in latin america you have noticed all the teller in mexico d you have the sort of massive protests and it was you have the very massive protests and you have even more on this victory. In bolivia and now in argentina people voting against neoliberal economics so i dont know if this is a new pink tide as it was called the early 2000 or not but it is surprising that the neo liberal cycle in argentina only lasted 4 yes its true that mockery destroyed everything in 4 years so there isnt much more to destroy but but it does seem that the shift to the right that had happened 4 to 6 years ago seems to be reversing some thought if course it remains to be seen whats going to happen in the future and how these shifts whether volved and manifest themselves politically and economically but i do think that. Basically there is a certain exhaustion of the populations with the neoliberal policies and theyre saying enough of this we need to focus again on redistribution on growth on more social justice and more equity which of course you know liberalism does not address all right and on that were going to have to leave it at bruno been at t. And he may not blink out thanks so much for being with us. And thank you as always for watching over me you can see this program again any time just go to our website is it a dot com and for further discussion you can go to our Facebook Page thats facebook dot com forward slash a. J. Inside story you can also join the conversation on twitter our handle there is at a. J. Inside story for me has of seek and the whole team here by phone now. A young girl gonna be for a lot of bias wendy popped up this indication. When behind this approach anything done skys the limit so the young gals both through secondary school with a phone call to be able to stay employed but thats one pest been able to change have fun. Meet the women in going out who are going places when it comes to education women make change on aljazeera. Investigative journalism the target of. Cars global experts in discussion 3 toshiba deal and you disagree with that deal because of the terrible twos the worst of all the love it was brets of us were you going to have stories from other angles open your eyes to an alternative view of the world today you have to rethink pretty much everything thank you for talking to aljazeera but both programs to inspire you on aljazeera. A story 1400 years in the making. A story of succession and leadership. Tells the story of foundation and the emergence of an empire. The caliph episode one. Can say to really know someone you must walk a mile in their shoes. Follow in their footsteps as they forge their way in the was. Aljazeera shares these personal journeys. Inspiring stories of people persevering on their chosen path. Witnessed documentaries on aljazeera. Down to 0. With every. Gun that i could. Protest to defy line firing neurons cut about as anger against the government spreads. Time. To see a live from doha also coming up the deadline looms for kurdish fighters to leave the old in syria face turkish forces. Giving up the u. K. s Prime Minister will try and push for an election in december a day off to ram it down but my. Fear is that