Macri tries to save Argentina from an economic collapse
They are not good economic days for the Argentine government. With the implementation of the economic emergency plan, the markets calmed down in terms of value, but investors remain nervous about Argentina's economic future.
Macri is the main person in charge of the Argentine economy
Macri's first job was to renegotiate the debt with the IMF, what they tried was to postpone payment times, although this earned him Standard & Poor's, a risk analytical agency, rating Argentina with CCC / C- which means, vulnerable and very vulnerable to not meeting obligations.
Macri himself is calm and sensible with the results of the first elections. Now you hear phrases that you want to leave an economically quiet country, although the Central Bank had to increase its interests by 79% and sell 350 million dollars of reserves.
But the outlook is not encouraging. Some economists believe that the dollar rate will reach 100 pesos by the first quarter of 2020. The International Monetary Fund must disburse $5.4 billion of the $57 billion loan, but some believe that the IMF will not make this disbursement in September, which is why that economists have described as "catastrophic and unforeseeable consequences."
Some investors are withdrawing their money abroad. They do not want the Argentine peso to continue to devalue and already plan a shock strategy to escape a possible economic collapse if Fernández wins the elections.
Fernández for his part has not referred to these economic movements, assuring that he does not want to cause a greater economic problem and when asked about Macri, he only said, "he must be counting the days he needs."
Macri is not the first to think positively. Although it always calls for calm, the country has been experiencing a problem since April 2018, and they have not financially solved the demands of its citizens, who increasingly protest the lack of opportunities and the feeling of hunger in its streets.
For now, it is only expected that the congress reopens its doors to begin to debate the postponement of the debt, which is achieved, will leave the strategy that Macri proposed in the beginning about Argentine happiness in a bad way.