The exchange rate: Damn if it depreciates, damn if it doesn't

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The exchange rate: Damn if it depreciates, damn if it doesn't

Julio 2017

The mystery was finally unveiled; Cristina is running for Senator in the province of Buenos Aires. This makes the race particularly important, and it will definitely catch the attention of most observers with an eye on the 2019 presidential election. If Cristina comes first, there will be questions about a potential come back that could affect the political strength of Macri administration in coming years.  But if she comes second (although she would get a Senate seat) it would mark the end of her influence within the Peronist party, as the Peronists would not forgive her for losing the province of Buenos Aires twice in a row.

What is at stake for the Macri administration is its ability to either move ahead with the policies that they want to implement and to maintain the confidence of investors and the business community, or alternatively to govern the next two years surrounded by the threat of a comeback of populism.