Experts laid out a list of economic adjustments that might be coming and the political implications for the new Argentina's presidency. ... Play Video
Daniel Kerner, Practice Head Latin America, Eurasia Group
María Victoria Murillo, Professor of Political Science and International Affairs, Columbia University
Mauro Roca, Senior Economist, Goldman Sachs
Vladimir Werning, Executive Director, Head of Latin America Research, J.P. Morgan Securities Inc.
Juan Cruz Díaz, Senior Advisor, Americas Society/Council of the Americas, and Managing Director, Cefeidas Group (moderator)
Argentina's next president, Mauricio Macri, who takes office December 10, will take the country through an economic transition filled with fiscal adjustments, but there could be political obstacles ahead, said experts on an AS/COA panel in New York. Speakers said the new president plans to decrease taxes on exports, increase the treshold in deductions for income taxes, and work with subsidies already in place; however, the lack of cash, along with the threat of increasing inflation and unemployment numbers, might weaken Macri's level of support. As voter expectations are high, the new president will face difficulty finding support in the Senate while working toward fiscal consolidation.