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22 Dec 2015
Argentina to lift capital controls - Rabobank
FXStreet (Guatemala) - Analysts at Rabobank noted that Mauricio Macri was sworn in as the new president of Argentina at the Congress in Buenos Aires on Thursday 10th December after winning the second round runoff with 51.4% of the votes against Scioli’s 48.6%.
Key Quotes:
"In doing so, Macri put an end to 12 years of Kirchnerism and ushered in a new age with major plans to open up Argentina to international markets. Much was expected in terms of immediate action but even those expecting a lot may have been caught off guard by exactly how quickly Macri has moved and what he has already managed to achieve.
A new, far more market-friendly, cabinet was announced as was a new President of the central bank following Alejandro Vanoli’s resignation.
Macri set to work straight away, appointing a new central bank President, removing quotas and tariffs and lifting capital controls.
USD/ARS rallied over 35% on 17th December and the official rate currently stands at around 12.85 with the blue chip only slightly higher at 13.60. "
Key Quotes:
"In doing so, Macri put an end to 12 years of Kirchnerism and ushered in a new age with major plans to open up Argentina to international markets. Much was expected in terms of immediate action but even those expecting a lot may have been caught off guard by exactly how quickly Macri has moved and what he has already managed to achieve.
A new, far more market-friendly, cabinet was announced as was a new President of the central bank following Alejandro Vanoli’s resignation.
Macri set to work straight away, appointing a new central bank President, removing quotas and tariffs and lifting capital controls.
USD/ARS rallied over 35% on 17th December and the official rate currently stands at around 12.85 with the blue chip only slightly higher at 13.60. "