{"id":30586,"date":"2015-11-23T09:49:04","date_gmt":"2015-11-23T09:49:04","guid":{"rendered":"http:\/\/usa.timesofnews.com\/new-argentine-president-reduce-states-role-in-economy\/"},"modified":"2015-11-23T09:49:04","modified_gmt":"2015-11-23T09:49:04","slug":"new-argentine-president-reduce-states-role-in-economy","status":"publish","type":"post","link":"https:\/\/usa.timesofnews.com\/breaking-news\/badminton\/new-argentine-president-reduce-states-role-in-economy.html","title":{"rendered":"New Argentine president: Reduce state&#8217;s role in economy"},"content":{"rendered":"<p><!-- cxenseparse_start --><\/p>\n<section id=\"module-position-OmPtZndVF7I\" class=\"storymetadata-bucket expandable-photo-module story-expandable-photo-module\">\n<aside class=\"single-photo expandable-collapsed\"><span class=\"toggle\" \/><\/p>\n<p class=\"image-credit-wrap\"><span class=\"js-caption-wrapper\"><span class=\"cutline js-caption\">Photo released by Cambiemos press office of supporters of the Head of Government of the Autonomous City of Buenos Aires and candidate for the Cambiemos (Let&#8217;s Change) party, Mauricio Macri (C), celebrating at the Cambiemos (Let&#8217;s Change) party headquarters in Buenos Aires on November 22, 2015, after getting the first results of the presidential run-off election in Argentina. Pro-market leader Macri, won Argentina&#8217;s presidential run-off vote against Buenos Aires province governor and presidential candidate for the Frente Para la Victoria (Front for Victory) Daniel Scioli on Sunday, early official results showed, breaking with 12 years of leftist rule in Latin America&#8217;s third-biggest economy. AFP PHOTO\/ Cambiemos &#8211; Juan Marcelo BaiardiHO\/AFP\/Getty Images<\/span><span class=\"credit\">(Photo: AFP\/Getty Images)<\/span><\/span><\/p>\n<\/aside>\n<\/section>\n<p>Argentina&#8217;s next president decided to pursue a career in politics under the most harrowing of circumstances: 24 years ago, he was kidnapped for nearly two weeks and released only after his family \u2014 among the nation&#8217;s wealthiest \u2014 paid the kidnappers a reported $2.5 million ransom.<\/p>\n<p>Mauricio Macri entered politics about a decade later, with a failed bid to become mayor of Buenos Aires. Two years later, he won a seat in Congress. In 2007, running again for the mayor&#8217;s office, he won a resounding victory with about 61% of the vote.<\/p>\n<p>The son of a wealthy, Italian-born industrialist \u2014 Macri&#8217;s father, Francesco &#8220;Franco&#8221; Macri, emigrated to Argentina from Italy after World War II \u2014 Macri had presidential aspirations during the country&#8217;s last election in 2011, but decided instead to run for re-election. He won with an even more resounding margin, more than 64%.<\/p>\n<p><a href=\"javascript:void(0)\"><\/p>\n<p class=\"oembed-link-title\">USA TODAY<\/p>\n<p class=\"oembed-link-desc\">Reports: Argentines poised to elect opposition candidate Macri as president<\/p>\n<p><\/a><\/p>\n<p>The 1991 12-day kidnapping that he says resulted in his political career also led police to break up a major kidnapping ring, in which most of the suspects had ties either to Argentina&#8217;s intelligence service or its federal police, <em>The New York Times<\/em><\/p>\n<p>A civil engineer who has long mixed politics with soccer \u2014 he was for years the president of Boca Juniors, one of Argentina&#8217;s most well-known clubs \u2014 Macri, 56, has promised to get rid of the nation&#8217;s controversial price control system, which applies to more than 400 supermarket items.<\/p>\n<p>His victory on Sunday signals the effective end of a dozen years of so-called &#8220;Kirchnerism&#8221; in Argentina, which featured heavy taxes on agricultural exports. President Cristina Fernandez de Kirchner, who is term-limited, succeeded her late husband, Nestor Kirchner, who served one term, from 2003 to 2007. His wife was elected in 2007 and re-elected in 2011. Nestor Kirchner died in 2010.<\/p>\n<p>Under Kirchnerism, the state has exercised greater control over the economy, imposing heavy taxes on agricultural exports. Macri has said he wants to reduce the state&#8217;s role in the economy. He has promised more pro-business policies, as well as a realignment of Argentina&#8217;s foreign policy away from Venezuela and Iran and closer to the USA.<\/p>\n<p>He also wants to scrap currency controls and make it much easier for Argentines to change their local pesos into U.S. dollars \u2014that would likely require the country&#8217;s central bank to increase its currency reserves.<\/p>\n<p>To do so, analysts say Macri would have to strike a deal with U.S. hedge funds that Fernandez has called &#8220;vulture funds.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Photo released by Cambiemos press office of supporters of the Head of Government of the Autonomous City of Buenos Aires and candidate for the Cambiemos (Let&#8217;s Change) party, Mauricio Macri (C), celebrating at the Cambiemos (Let&#8217;s Change) party headquarters in Buenos Aires on November 22, 2015, after getting the first results of the presidential run-off [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[13],"class_list":["post-30586","post","type-post","status-publish","format-standard","hentry","category-badminton","tag-breaking-news"],"_links":{"self":[{"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/posts\/30586","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/comments?post=30586"}],"version-history":[{"count":0,"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/posts\/30586\/revisions"}],"wp:attachment":[{"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/media?parent=30586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/categories?post=30586"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/tags?post=30586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}