March 21, 2016 |
After Mauricio Macri won the Argentine presidential election for center-right coalition Cambiemos in November, supporters celebrated by singing out a slogan from his campaign: “We can do it.” The chant reflects hope that this president can return Latin America’s third-biggest economy to growth after four years of stagnation under soaring inflation.
A dozen years of populist policies have left behind significant challenges, however.
Argentina’s economy is poised to contract 1% this year, according to the International Monetary Fund. Current and fiscal accounts are in deficit, infrastructure is outdated, and energy shortages are common. The country, as yet, has no access to global financial
Although Argentina’s new conservative president has slashed export taxes, lifted currency controls and forged ties with the opposition in efforts to revive the country’s economy, significant challenges remain before investors come storming back