Danilo Astori is sitting at an imposing table in his oak-panelled office in Montevideo, filling the air with softly spoken words about his excellent relationship with the International Monetary Fund, improving the business environment and the inevitable end of Uruguay's state monopolies.

The tone is not what you might expect from the economy minister of a leftwing government that includes communists and former guerrillas. But less than 100 days after the Broad Front coalition took power, Mr Astori's words are heartening markets and impressing Wall Street.