The first runoff voting in history in an Argentine presidential election led to Mauricio Macri being named the new president of Argentina. In a runoff vote, neither party wins by a large enough margin for victory, which leads to a second vote to determine the winner. A proponent of making big changes to the country’s economic system, this election result will have a big impact on surrounding countries and their economies. Leading foreign exchange expert Pablo Soria de Lachica offers insight into how this election will benefit Uruguay, the economy and its citizens.
Macri is the first non-radical or Peronist president to be democratically elected since 1916, defeating the Front For Victory party. In a close race that required a second ballot, Macri took slightly more than half of the vote to win the election. During his campaign, he promised to improve conditions for the country’s businesses and reduce inflation, which will provide beneficial results to neighboring nations, specifically Uruguay. Because his stance on business and economics is vastly different from previous presidents, Pablo Soria de Lachica expects the changes to be positive for the country which has been experiencing much economical unrest.
Uruguay, as one of the members of the Mercosur common market of which Argentina is a primary partner, exports most of its manufactured goods to Argentina and Brazil. Any modifications in trade regulations has a major impact on all of these nations, which will serve to revitalize a stagnant market. Macri promised a more pro-market policy than what has been seen in recent years. One of the goals of the new president is to improve fiscal standing while bringing in more investment and involving the country in global debt markets once current issues with creditors are managed.
Improved relations between the two countries are already evident. President Macri removed the regulation against transshipment in the Uruguay ports for exports from Argentina. He has been working with Tabare Ramon Vazquez Rosas, president of Uruguay, to improve the export/import business for both nations. The two leaders agreed to develop a bi-national plan for the ports, which will further lessen restrictions. Strict limitations not only impacted Argentine exports, but imports received from Uruguay, limiting what products would be allowed into the country. The measures being taken by Macri provide Uruguay with easier access to needed materials while increasing the ability to generate income from increased export trade. As Soria de Lachica explains, this change will help improve Uruguay’s economy by enhancing the growth of local businesses that depend on exports as a primary part of their revenue.
Pablo Soria de Lachica is an expert in the foreign exchange market and has collaborated with Kartoshka, a leading company in modern technology for telemarketing, sales and customer service. Pablo’s experience in international financial transactions provides him with the knowledge on investment and international trading in the currency market. He has also conducted educational webinars and created valuable information on investment principles for both beginners and experienced investors.
