Good Morning Macri: What Argentina's New Dawn Means For Investors

Business and Finance

By Forbes

It’s official. Mauricio Macri made harder work of it than polls had expected, but he achieved just over 51% of the votes in last night’s run-off compared to just under 49% for Kirchner candidate Daniel Scioli. He is the new elected president of Argentina. So now what?

“Regardless of the tight margin, the elections send a strong message that a majority of Argentinians favour a change,” says Alejandro Hardziej, fixed income research analyst at Julius Baer. “Macri recognises the need to boost the competitiveness of the corporate sector and exports, and has promised business-friendly reforms to spur investments.”

Macri is seen as a pro-business leader, and some of his intended priorities include lifting capital controls and liberalising the exchange rate (to a point, anyway), which Hardziej says in practice means depreciating it by between 20 and... (Read More)