Argentina Markets in Freefall, But at Least We Still Have Messi
(3 min read)
As the race for the Presidential Elections continues in Argentina, the Federal Government, led by Mauricio Macri, just took another dangerous step closer to the precipice. Their decision to impose ‘partial’ capital controls in Argentina in a desperate attempt to appease voters and to buy time ahead of the October elections disappointed (again) not only the markets but those whose favour they hoped to earn. The feared measure returned to Argentina after its four-year hiatus when Mauricio Macri liberalized the FX market, breaking with the legacy of the Kirchner administration when capital outflows were severely regulated by the Federal Government...
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