Mauricio Macri’s win to end Argentine currency controls, protectionism

Sweeping changes lie ahead for Argentina’s economy and foreign policy, including an end to protectionism and unquestioned support for the leftist government in Venezuela, President-elect Mauricio Macri told reporters Monday.

“I have faith Macri will be an honest politician”. The makeup of Congress, filled with many Fernandez loyalists including her son, is particularly important for the long-standing debt spat with a group of creditors in the U.S. The victory by the business-friendly Macri comes after he did better than expected in the first round on October 25, forcing a runoff with Scioli, the governor of the vast Buenos Aires province. Their party is the Peronists, the heritage of legendary President Juan Domingo Peron. When the dictatorship ended 10 years later, in 1983, the Socma corporate empire had expanded to 46 companies.

Mr. Prat-Gay said Argentina’s economic data is so unreliable that some decisions may have to wait until after Mr. Macri becomes president.

While presiding over Boca Juniors gave Mr. Macri a chance to establish his own name, he still has to contend with claims that his privileged upbringing makes him unaware of the challenges faced by ordinary Argentines. “We know that the Argentine people have much to bring to the world, and we hope to find an agenda of cooperation”. He won the presidential election despite cutting the figure of an uncomfortable politician and having to battle a perception among the lower classes that he is a capitalist with little interest in helping the poor.

Marcos Peña, Cabinet Chief for President-elect Mauricio Macri, said he will announce the full cabinet at 5 p.m.

One of those reforms will be ending the government’s currency controls set by the previous administration led by Cristina Fernandez de Kirchner. His ambition is to end more than a decade of free-spending populism.

Venezuela holds legislative elections on December 6, which polls indicate the right-wing opposition could win.

He has also promised closer relations with the United States, whose finance industry the FPV blames for the country’s 1998-2002 economic depression.

Macri’s even met with Bill Clinton, who presided over the last spell of good relations between the two countries.

Macri’s stance against the Venezuelan government was also clearly solidified when Lilian Tintori, wife of Venezuelan opposition leader Leopoldo Lopez, took to the stage with Macri during his victory celebration on Sunday night.

“If Macri had read the democratic clause closely he would have realized that it’s not that easy to apply to Venezuela today, except if something serious happens in the elections”, Chasquetti said.