New Finance Minister is sworn in

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(27 Apr 2002) • • POOL • 1. Wide shot of swearing-in ceremony • 2. Arrival of Argentinian President Eduardo Duhalde • 3. Cutaway of congressmen and senators • 4. UPSOUND (Spanish) Eduardo Duhalde, President of Argentina • Do you swear before god and this nation to represent with loyalty and patriotism the duty of your position as Economy Minister, abiding and making others abide by the constitution of the republic of Argentina? • 5. UPSOUND (Spanish) Roberto Lavagna, New Argentinian Economy Minister • Yes, I swear. • 6. Duhalde and Lavagna shaking hands and hugging • 7. Wide shot of ceremony • 8. SOUNDBITE (Spanish) Roberto Lavagna, New Argentinian Economy Minister • Well, I am certainly worried about the closing of the markets which creates an enormous uncertainty among the people and an enormous paralyzation of resources. (Q Dollarisation?) The first measure I have to deal with. • 9. Cutaway of photographers • 10. Lavagna arriving at news briefing • 11. SOUNDBITE (Spanish) Roberto Lavagna, New Argentinian Economic Minister • We are going to be working all weekend, looking at the state of the current situation, brainstorming and of course, we'll begin to put together the team who will work with me. • 12. Cutaway photographers • • APTN • 13. Wide shot of Presidential Palace (Casa Rosada) • 14. Various street scenes in downtown Buenos Aires • 15. SOUNDBITE (Spanish) Jaime Garay, Buenos Aires resident • This politics together with this new economic leadership that keeps changing and in the end not making any difference, this is like that saying that says: ' It is like sending a fox to the chicken shack to deal with the chicken. He's going to eat all the chickens!' This is a disaster. • 16. Wide shot of news stand • 17. Various of newspapers reading: Monday the banks reopen • • STORYLINE: • • The Argentinian president has sworn in trade specialist Roberto Lavagna as the country's sixth economy minister in a year in a bid to turn around the crumbling economy. • • The appointment of Lavagna, a 60-year-old former ambassador to the European Union, capped a week-long political crisis that has threatened the caretaker government of President Eduardo Duhalde. • • Lavagna was sworn in at an elaborate ceremony at the Casa Rosada, the president's headquarters in Buenos Aires, on Saturday. • • The government says his first task will be to anchor the peso to the dollar. • • The Argentine currency has lost nearly 70 per cent of its value since Duhalde abandoned its one-to-one peg to the U-S dollar days after taking office in January. • • At the time, he insisted that an overly strong peso was the cause of Argentina's financial problems. • • Lavagna is a former commerce secretary who advocates strong trade ties with the international finance community. • • Duhalde named Lavagna to replace his long-time aide Jorge Remes Lenicov, who resigned on Tuesday after political support evaporated for his efforts to secure new international aid and prop up the fragile banking system. • • The departure of Remes Lenicov raised doubts about whether Duhalde could keep his government together and govern during Argentina's four-year recession, the deepest in its history. • • Unemployment has soared above 18 per cent and Argentina defaulted on its 141 (b) billion U-S dollar debt in December. • • President Duhalde took office after unrest prompted by the economic troubles drove out former President Fernando de la Rua. • • Find out more about AP Archive: http://www.aparchive.com/HowWeWork • Twitter: / ap_archive • Facebook: / aparchives • Instagram: / apnews • • • You can license this story through AP Archive: http://www.aparchive.com/metadata/you...

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