News Digest

Argentina’s outgoing president entreats country to protect her legacy

In her last speech as Argentine president, Cristina Fernandez de Kirchner entreated the thousands of supporters gathered to bid her farewell in the centre of Buenos Aires to ensure that her legacy is not destroyed. The rally marked the end of 12 years of leftist populism under Fernandez and her late husband and predecessor, Nestor Kirchner. Business-friendly conservative Mauricio Macri takes office as Argentina’s next president today in a ceremony boycotted by the outgoing Fernandez.

We believe in what we have achieved so we need to have a positive attitude to ensure that these things will not be destroyed.

Cristina Fernandez de Kirchner

Macri has vowed to reboot Latin America’s third-largest economy, which is slumping back toward recession, by ending protectionist import restrictions, cutting heavy taxes on agricultural exports and scrapping the official exchange rate puffing up the Argentine peso. But the national conversation heading into the big day was all about the squabble between him and Fernandez, which started with a disagreement about where the inauguration ceremony should take place. Fernandez accused Macri of disrespecting her when they discussed the matter on the phone. Fernandez’s party, the Front for Victory, still holds the most seats in the legislature and could make it hard for Macri to implement change.

There’s a sea change coming.

Mauricio Macri