Emerging Markets: Argentina, My Number One Choice for 2016
By: Peter Kohli
“Argentina’s New President Moves Swiftly to Shake Up the Economy” ̶ The New York Times. “Argentina’s Macri Moves Quickly To Reboot the Economy” ̶ Nasdaq. “Macri is Off to a Good Start” ̶ The Buenos Aires Herald. “Argentina’s Macri Tackles Flawed Government Data as Part of Overhaul” ̶ The Wall Street Journal. I could go on, but these were the first four headlines to greet me when I decided to begin my series of what will be hot in 2016 with my number one pick, Argentina.
All of it is reminiscent of the articles from May 2014 when Narendra Modi won the election in India. With one big difference. While India was doing well economically, even though they were underperforming, Argentina on the other hand had an economy that had ceased to function. Foreign investors had flown the coop, the currency was propped up by a government who had been delusional about the world, and so as not to go off a cliff, literally, President Macri had to take quick and decisive action.
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