John Micklethwait

And you still talk with Machado and you're still in contact with her?

Let's look at the economy.

When we came here last year, you had already brought inflation down from 300% to 80%.

Now it's at 30%.

You've had a good year in terms of the trade deficit.

The economy is growing.

Two questions always come back.

The first is the currency.

As you know, you are a free marketeer.

You believe in free currencies.

And the question is, when will you let the peso go free?

And just to be really clear, the peso going clear, going free, you have broadened the band, but a free currency, you know as well as I do, means without any controls or FX bands.

When is that going to happen?

So that's the role of bands, to limit the volatility.

But when do you think this year you will be able to say you have learnt, you have discovered what that freedom is like, now try it properly and float, let's float the peso?

What is the timing?

The other big test, and it's a fairly simple question, is the international loan markets.

You have raised money at home

domestically, but as you know very well, your predecessor defaulted on the foreign bonds.

The question is very specific.