Mauricio Macri, President of Argentina, together with Michel Temer, President of Brazil, during a press conference in Buenos Aires in October 2016 at the beginning of their respective mandates. AP Photo/Natascha Pisarenko. All Rights Reserved.
Ever since Mauricio Macri assumed the presidency on the 10th December 2015, he has radically modified the axes of Argentine politics.
In only four months, the new administration imposed a free foreign exchange market (completely lifting the monthly limit for buying dollars), a strong deregulation of the financial sector (end of the 10% limit of holding foreign exchange assets in dollars for private banks), a monetarist turn from the Central Bank (that turned to de facto self-management, as an autonomous entity whose only objective is the stability of prices, through annual inflation goals) and the extremely costly payment of the vulture funds, a necessary condition to become indebted once more in the international financial market.
