Source: TeleSUR English The election of Mauricio Macri in Argentina’s presidential race comes as a welcome victory to the country’s business elite and right-wing parties across Latin America, but the president-elect has some dubious ties that could signal a lasting legacy in the new head of state of darker times in Argentina. Macri has been particularly criticized for his indirect ties to the last military dictatorship in Argentina in the late 1970s and early 1980s that cracked down Read more [...]

BUENOS AIRES – For the last 99 years, the presidency of Argentina has rotated between Peronists – Juan Domingo Perón and his populist followers – and reactionary generals. Every so often, centrists from the Radical Civic Union were voted into office, but their terms ended quickly, in resignations or coups. In Sunday’s election, Argentina’s voters broke the pattern: for the first time in almost a century, the president will not be a Peronist, a Radical, or an army general. It is difficult Read more [...]

A further drop in hard currency holdings could complicate Macri's plans to start dismantling capital controls and trade restrictions, which he says are needed to spur growth, beat down double digit inflation and narrow a gaping fiscal deficit. Macri's opponents warn his proposal to lift quickly controls on the currency and unify the exchange rate will trigger a "mega-devaluation", while his plans to eliminate export taxes on wheat and corn will dent dollar Read more [...]

Their legacy includes an expansion in social programs, financed by the commodities boom, as well as a series of recent economic setbacks. Argentina has a 30-per-cent inflation rate, and has been unable to access international capital markets, as a result of Fernandez’ refusal to settle with U.S. creditors, who are still owed money from the country’s massive 2001 debt default.

What’s Next: Tomorrow’s Digital LifeFind out what’s in store for our digital-everything lives. Finding Cures in Early Research Saving Species, By the Numbers Read more [...]

Argentina’s President-elect Mauricio Macri tapped United Nations Secretary-General Ban Ki-Moon’s cabinet chief as his foreign minister in his first major appointment since winning Sunday’s election.Susana Malcorra, who was born in Rosario in Santa Fe province in 1954, was appointed by Ban Ki-Moon in 2012. Prior to that she worked as Chief Operating Officer and Deputy Executive Director of the World Food Programme and as an executive at IBM and Telecom Argentina.Macri defeated ruling party Read more [...]

Argentina’s credit outlook was raised by Moody’s Investors Service to positive amid optimism that president-elect Mauricio Macri will implement changes to boost the credibility of South America’s second-largest economy.The decision comes two days after second-round presidential elections, where opposition candidate Macri beat ruling-party’s Daniel Scioli. Moody’s had previously raised the country’s outlook from negative to stable on Nov. 2, a week after a first-round vote.Argentina has Read more [...]

By Dimitra DeFotisMoody’s Investors Services said the outlook has improved for Argentina’s credit market, though it cautioned investors are still likely to suffer losses on defaulted debt. Reuters Argentina’s president-elect Mauricio Macri. The Global X MSCI Argentina exchange-traded fund (ARGT) is down 0.3% today. State-controlled oil producer YPF (YPF) is down 1.3%.  Banks Banco Macro (BMA),BVA Banco Frances (BFR and Grupo Financiero Galicia (GGAL) are all lower, Read more [...]

A couple of my neighbours set off fireworks from their balconies as the election results came in last night, while in the street below, motorists began beeping their horns as if Argentina had just won the World Cup, so elated are some to see the back of the governing Frente Para la Victoria (Victory Front). Most, however, wait with baited breath to see what exactly Mauricio Macri's victorious Cambiemos alliance will change. Throughout the campaign the mayor of Buenos Aires city denied accusations Read more [...]