Macri Tries to Weather Argentina’s Economic Storm by Ending ‘Gradualismo’
Once again, Argentina has become synonymous with crisis. The Argentine peso has already lost half of its value against the dollar this year, and the economy is projected to contract by at least 2 percent while inflation reaches 40 percent. Beleaguered President Mauricio Macri is asking the International Monetary Fund for additional assistant, only three months after finalizing a loan agreement. Not surprisingly, Macri’s domestic popularity has suffered, weakening his re-election prospects next year.
