Argentine Banker Brito Sees Potential Investment Grade in 2016

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By Bloomberg Business

Argentina could gain an investment grade in 2016 if the next president tackles policy changes from lifting capital controls to publishing reliable economic statistics, said Jorge Brito, president of Banco Macro SA.

The most important sign for investors will be the next president’s inauguration speech on Dec. 10, which should clearly lay out a credible economic plan to regain confidence and attract capital, Brito said in an interview at the headquarters of the bank in downtown Buenos Aires. Opposition candidate Mauricio Macri is currently favored to prevail over the ruling party’s Daniel Scioli in a runoff vote on Nov. 22.

“It’s irrelevant if they lift currency controls on day one or in 180 days,” Brito said. “The important part is... (Read More)