FIRST AIRED: December 26, 2016

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Transcript

00:00:01
>> Argentine president Mauricio Macri is seen by many as the best chance of pulling his nation out of a deep economic recession. But on Sunday, Macri fired the guy he appointed to lead that effort. Macri asking for the resignation of Finance Minister Alfonso Prat-Gay and splitting the finance ministry in two.
00:00:21
Macri's cabinet chief saying Monday that there were disagreements over management style, but not over economic policy. Macri was hailed by investors as one of South America's dynamic new leaders when he came to power just over a year ago on a pro-business platform. After taking office, Macri had very quickly lifted capitol controls and managed to cut a deal with US creditors, ending a long-running debt dispute.
00:00:45
Prat-Gay was instrumental in achieving both, but Latin America's number three economy continues to suffer with inflation seen reaching 40% in 2016, while economists see the economy shrinking 2.3%. The government has promised a return to growth in 2017 driven largely by public works spending.