Sergio Massa, new Argentina's 'superminister' of economy

Sergio Massa is sworn in as Argentina's new 'superminister' of economy by President Alberto Fernandez in a ceremony attended by political leaders, businessmen and trade unionists. "We have a great opportunity as a country, let's not let it pass us by," says Fernandez as he hands over the oath of office to the former parliamentarian at the Bicentennial Museum, next to the Casa Rosada, the seat of the presidency.

Massa, a 50-year-old lawyer who has just resigned as speaker of the Chamber of Deputies will concentrate three economic and productive portfolios under his command.

Argentina’s third economy minister in a month was sworn in Wednesday, and as his first order of business Sergio Massa sought to bring down sky-high expectations for his tackling of the country’s economic troubles.

He made clear he would not announce profound measures that would immediately change the course of an economy that is suffering from galloping inflation, a shortage of Central Bank foreign currency reserves and a sharp depreciation of Argentina’s peso.

“I’m not super anything, nor a magician nor a saviour,” Massa said during a news conference Wednesday night at which he sketched his main plans.

When Massa was first unveiled as the latest economy minister, many were quick to dub him a “super minister” because his position would involve running three previously independent ministries — economy, production and agriculture.

“This team has the obligation to give answers that will not come in a day or two, Magic doesn’t exist” he said.