Investment-starved Argentina bets on CEOs
Source: The Daily Herald
Argentina is hoping a conference of nearly 2,000 top corporate executives that began on Tuesday will spark the capital investment needed to recharge its shrinking economy.
Mauricio Macri won the presidency last year by promising his free-market policies would bring a wave of foreign investment. So far the wave has been more like a trickle. Companies agree with Macri's policies, which have included export tax cuts and floating the peso currency, but they are waiting for signs that he can halt the boom-bust cycles that have hobbled Argentina for decades. His job this week is to convince them.
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