Argentina's New Economy Minister Targets 'Order And Balance' To Trim Fiscal Deficit

Argentina's new economy minister Silvina Batakis announced a series of measures aimed at cutting the country's high fiscal deficit on Monday, pledging "order and balance" in a bid to tame spiraling inflation, tumbling markets and pressure on the peso.

Batakis, who took over last week after an abrupt shake-up at the ministry, said Argentina will move towards positive interest rates, maintain plans to cut energy subsidies and stick with goals agreed with the International Monetary Fund (IMF).

"We need to give some order and balance to the public finances of the national state," she said at a press conference in Buenos Aires. "The measures that I want to share with all of you today have to do with guaranteeing fiscal balance."