July 31, 2019 |
In the run-up to Argentina’s October presidential election, ghosts loom large. The economy is again mired in crisis, at times reminiscent of 2001, when Argentina defaulted on its debt and plunged into the worst economic calamity in the nation’s history.
It’s a dramatic turn of events for President Mauricio Macri, whose electoral victory four years ago unleashed investor optimism about Latin America’s third-largest economy. Shortly after winning office, Macri moved quickly to shake up the economy, implementing market-oriented changes to reinvigorate the economy after sluggish growth.
He lifted currency controls, resolved prolonged disputes with creditors over Argentina’s defaulted debt and
Renegotiating agreement with the IMF is high on the list