After 11 years of relying on consumption to drive its economy, Argentina must focus on attracting investment, said two economic advisers to the man bidding to be the ruling party candidate in next year’s presidential election.
Former Argentine President Nestor Kirchner , who antagonized investors in the aftermath of the country’s $95 billion debt default before handing power to his wife in 2007, died of a heart attack today. He was 60.
Whether Argentina’s next president is Daniel Scioli, Sergio Massa or Mauricio Macri, investors will return in droves after next year’s elections as the nation moves closer to returning to capital markets, said Claudio Porcel, head of asset management firm Balanz Capital Sociedad de Bolsa SA.
The three provinces holding Argentina’s largest shale oil and gas deposits will jointly challenge a push by federally owned YPF SA to take control of the auction and renewal of licenses, three officials said.