A report on Mauricio Macri and Argentine debt restructuring

Argentina negotiated a swap of defaulted debt and repaid the International Monetary Fund.

Duhalde also unsuccessfully approached Mauricio Macri, Adolfo Rodríguez Saá, Felipe Solá, and Roberto Lavagna, all of whom refused to run.

Under his administration, Argentina restructured its defaulted debt with an unprecedented discount of about 70% on most bonds, paid off debts with the International Monetary Fund, purged the military of officers with dubious human rights records, nullified and voided the Full Stop and Due Obedience laws, ruled them as unconstitutional, and resumed legal prosecution of the Junta's crimes.

On 22 November 2015, after a tie in the first round of presidential elections on 25 October, center-right coalition candidate Mauricio Macri won the first ballotage in Argentina's history, beating Front for Victory candidate Daniel Scioli and becoming president-elect.

These three parties respectively nominated Mauricio Macri, Ernesto Sanz, and Elisa Carrió as their representatives in the August 2015 primary elections, which were held to choose which candidate would run in the 2015 presidential election on 25 October.

He aligned the country with gradualist neoliberalism and re-opened Argentina to international markets by lifting currency controls, restructuring sovereign debt, and pressing free-market solutions.

A member of the center-left, Peronist faction within the Justicialist Party, Fernández was the party's candidate for 2019 Argentine general election and defeated incumbent president Mauricio Macri, with 48% of the votes.

It also gave the president additional powers to renegotiate debt terms – with Argentina seeking to restructure its US$100 billion debt with private bondholders and US$45 billion borrowed by Macri from the International Monetary Fund.

Macri aligned the country with gradualist neoliberalism and re-opened Argentina to international markets by lifting currency controls, restructuring sovereign debt, and pressing free-market solutions.

PRO began as an alliance between Commitment to Change (CPC) of Mauricio Macri, and Recreate for Growth (Recrear) of Ricardo López Murphy created in 2005.

One month later, negotiations with hedge funds failed, and American judge Thomas Griesa issued an order that Argentina had to pay to all creditors and not just those who had accepted a reduced payment as outlined in the Argentine debt restructuring plan.

Mayor Mauricio Macri pointed out that the national government had prevented the city from taking out international loans, which would have been used for infrastructure improvements.

As part of a wider debt restructuring effort that brought Argentina out of its default three years earlier, in December 2005 President Néstor Kirchner announced the payment of Argentina's IMF debts in a single, anticipated disbursement.

One of the first changes to economic policy from the Macri administration, just seven days after Macri had taken office, was to remove the currency controls that had been in place for four consecutive years.

Argentine debt restructuring offers in 2005 and 2010 resumed payments on the majority of its almost US$100 billion in defaulted bonds and other debt from 2001.

The government under President Mauricio Macri announced to be seeking a new loan from the International Monetary Fund in order to avoid another economic crash similar to the one in 2001.

In 2014, Griesa presided over the Argentine debt restructuring, on remand following the U.S. Supreme Court's decision to permit vulture funds, who in the period June 2001 to November 2003 (that is from half a year before the Argentine default on December 26, 2001) bought bonds, which are negotiable instruments and therefore, like bond owners all over the world, never drew any pay from the issuing country, to access potentially an array of bank records to locate financial assets overseas in seeking compensation.

Griesa saw the elevation of Mauricio Macri to the office of President of Argentina as a key development that, in his words, "changes everything" and may lead to a final resolution of the disputes arising from the default.