Lithium Power International Ltd | Argentina
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Argentina

Argentina New President elected

Lithium Power has completed independent technical and legal due diligence and executed a binding MOU to purchase 100% of a 3,200 hectare Argentine Lithium project

On 22 November 2015 , however, Argentina said “no, gracias” to further leftist rule when it elected conservative businessman and two-term Buenos Aires mayor Mauricio Macri to succeed Cristina Fernández de Kirchner as president. It was an upset victory for the people of Argentina, who have seen their once-prosperous nation deteriorate under decades of Marxist policies.

It was also a strong win for investors around the globe. Not since Narendra Modi’s election last year has a leader’s entry on the world stage inspired such bullishness.

In the three months leading up to the November 22 election, Argentina’s Merval Index rose 30 percent as optimistic investors anticipated a win by Macri.

Foreign investors got their wish,” said Washington-based emerging markets analyst Gary Kleiman. “Macri’s win signals a decisive break with the Kirchner-Fernandez legacy of creditor confrontation and economic mismanagement.”

“Bond and stock markets will enjoy the afterglow into the new year,” he added

Macri’s win marks a decisive shift to the center-right and raises the prospect of improved ties with the United States and European Union, as well as freer-trading, faster growing countries on the Pacific coast that include Chile and Peru