A new era is beginning in Argentina, now that the Kirchner dynasty was finally voted out of office in November. President Mauricio Macri has vowed extensive change for the country, in areas ranging from foreign policy to the domestic economy. He is advocating an increased role for the private sector at the expense of a reduced role for the government. Argentine assets have not been part of a favorable or investable universe for over a decade; if successful, Macri’s policies will bring sorely needed foreign investment into Argentina, and spur locals into putting capital to work as well. As such, I’m monitoring the country as a possibly lucrative investment location for 2016. With interest rates at 38% and a currency weakened by over 30%, the time is coming nearer.
As a first credible sign that Macri is putting action behind his promises, he has brought new (and valuable former) employees into three important institutions: ... (Read More)