In Argentina, Subsidy Cuts To Redress Government Spending

Argentine officials have announced that the government will enact a series of subsidy cuts, slated to begin Dec. 1. The move, made in part to curtail the effects of heavy subsidization and government control of financial systems, is made possible by the political capital Argentine President Cristina Fernandez de Kirchner gained in her electoral victory in October. The cuts are necessary if Argentina wants to redress its financial issues and trim spending in the future, but it may cost Fernandez her political capital.