The immediate test for Mr Remes's plan is how far and fast the peso depreciates.

ECONOMIST: Argentina's crisis

Jorge Remes Lenicov, the economy minister, seems committed to taking the necessary measures.

ECONOMIST: Argentina

The mismatch in the treatment of deposits and loans at the heart of Mr Remes's plan spells the collapse of many banks.

ECONOMIST: Eduardo Duhalde's plan carries new dangers

Mr Duhalde and Mr Remes face an enormously delicate balancing act.

ECONOMIST: Argentina's economy

If inflation and the exchange rate are to be restrained, Congress will have to approve a convincingly balanced budget, which Mr Remes promises to publish within weeks.

ECONOMIST: Argentina's economy

The government's recovery plan, announced by Mr Remes on February 3rd, involves both floating the peso and transforming a largely dollarised economy into one that must work in pesos.

ECONOMIST: Floating or sinking? | The