Argentina President Mauricio Macri on CBS’s 60 Minutes
As you may know, President Barack Obama recently visited Argentina, which many see as a clear sign that the US government believes Mauricio Macri is indeed turning Argentina around for the better.
CBS’s 60 Minutes profiled the new president of Argentina, and reported on the sweeping changes his administration has made in such a short time:
“[Macri] and his team plunged into action, undoing Kirchner’s legacy. What has heads spinning here is the speed with which they have changed course 180 degrees in just a matter of weeks.”
It’s a compelling interview that everyone interested in Argentina’s recovery should see. Watch the video of Lesley Stahl’s report and read the transcript here.
Macri has denounced the former president’s ties with countries like Venezuela and Iran, and is now publicly seeking direct ties with the United States and Europe. Times have certainty changed to the positive. Here’s a photo I took of the first U.S. government jet that I have ever seen on the tarmac in Argentina.
Here are a few other media highlights from the press in recent days.
- Reuters: Markets braced for US$30bn Argentina surge; “Argentina’s progress in settling a 15-year old battle with creditors could unlock more than US$30bn of new bond sales.”
- Forbes: Argentina Is Now More Politically Stable Than Brazil; “The market has decided that Argentina is better.“
- Barron’s: Argentina: Credit Upgraded As Obama Visits, Bond Sale Nears; “Argentina hopes to return to the bond markets as it resolves court cases with holdout bondholders and takes legislative action to secure related agreements.”
- The Street: Emerging Market Investors Should Look at Argentina; “Argentina should be on the top of your list of places to invest abroad“
- Bloomberg Business: Argentina Fund Here to Stay After 30% Gain; “Chile’s Moneda Asset Management is extending the life of its Argentina fund after it generated a 30 percent windfall over the past year.”
- CityAM: Investors say Argentina is the bright spot in Latin America; “Experts are now tipping Argentina as one of the most promising investment opportunities in the region.”
- Savills (one of the world’s largest real estate firms), rhetorically asks in their 2016 report; “Where is the smart money going?” The answer includes naming Mendoza as one of this year’s hot real estate buys. “In Argentina, Mendoza, the largest wine-producing centre in Latin America and gateway to the Andes, stands out as a city of choice in the region.” You can download the full report here.
Algodon Mansion and Algodon Wine Estates also received some recent great news:
- Algodon Mansion was prominently featured in the Forbes article Buenos Aires Escape: Check Into The City’s The Most Intimate Luxury Hotel.
- Algodon Wine Estates has won “Vineyard of the Year” for San Rafael in the soon to be published Luxury Travel Guide Holiday & Tour Specialist awards.
The world is finally once again looking with optimism at Argentina’s considerable potential for opportunity and greatness. We have been there, investing before the crowd, for the last decade, and now we believe our time is nearer than ever before.