MEDELLIN, Colombia—After almost six months in office, the honeymoon between the international community and the new Argentine president Mauricio Macri isn’t over. In fact, it just seems to get better in spite or maybe because of the messy state of affairs left by his predecessor Cristina Kirchner.
“Our starting point is very complex. We still have a long way to go. We are leaving behind a series of populist political practices that have not transcended in an improved standard of living for our people,” Macri said at the World Economic Forum (WEF) on Latin America in Medellín, Colombia, on June 16.
Macri’s appearance at the forum, which represents the global political and economic status quo, is the second one after attending the main meeting in Davos, Switzerland, in February this year. His message is clear: “Argentina decided to become an active participant in the 21st century,” after the country had shunned the forum for 12 years and with it the international community of business and finance.
Kirchner’s Mess
After Kirchner took office in late 2007, she almost made a point of alienating the international community, probably best represented by her personal fight with hedge fund billionaire Paul Singer. He successfully sued Argentina for not fully repaying bonds that were restructured in the aftermath of the 2001 sovereign default. As a result, the country was shut out of the international bond market.
