Friday, October 21 2016


Pro-market Macri vows new era as Argentine president

Update: November, 23/2015 - 12:04

BUENOS AIRES Argentina's conservative president-elect Mauricio Macri promised a "marvelous" new era was starting for the country after he won a runoff election on Sunday.

The former football executive, favoured candidate of big businesses and foreign investors, is expected to be Argentina's most economically liberal leader since the 1990s.

"This is a historic day, a change of era which is going to be marvelous," a beaming Macri told cheering supporters after his leftist rival Daniel Scioli conceded defeat.

"We cannot waste time on revenge or score-settling," he said. Shortly afterwards he was swung his hips, dancing Argentine "cumbia" to deafening music.

Macri and Scioli fought a tense battle for votes in a country largely weary after 12 years under leftist leader Cristina Kirchner and her predecessor and late husband Nestor Kirchner.

Breaking with 12 years of leftist rule in Latin America's third-biggest economy, Macri has vowed to ease foreign trade and dollar restrictions.

Celebrating on Sunday, he said it was time "to build an Argentina with zero poverty, defeat drug-trafficking and strengthen democracy" in the country.

Official results gave Macri 51.8 per cent of the votes and 48.2 per cent for Scioli, with 95 per cent of ballots counted.

Reaching out abroad

Macri is expected to have warmer relations with countries such as Britain and the United States.

"We want to have good relations with all countries," Macri said on Sunday. He has vowed to negotiate with foreign creditors who have sued Argentina in the US courts for unpaid debts. Kirchner branded hedge funds "vultures". But voters who backed Scioli fear Macri's reforms will roll back the social and trade policies of the combative outgoing president that have benefited the poor and small businesses.

Macri has proposed to immediately lift restrictions on imports and on US dollars. Scioli has warned that would trigger a brutal devaluation of the peso, weakening ordinary Argentines' incomes. AFP


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