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Argentina's President-elect Macri lays out new course Argentina's President-elect Macri lays out new course
(about 7 hours later)
Argentine President-elect Mauricio Macri said he would correct errors made by the outgoing administration, such as currency controls. Argentine President-elect Mauricio Macri said he would correct "mistakes" made by the outgoing administration, such as currency controls.
Mr Macri won Sunday's run-off election by a narrow margin over Daniel Scioli, who was backed by outgoing president Cristina Fernandez de Kirchner. Mr Macri won Sunday's run-off election by a narrow margin over Daniel Scioli, who was backed by outgoing President Cristina Fernandez de Kirchner.
He said one of the key problems was the lack of accurate information about the state of Argentina's economy.He said one of the key problems was the lack of accurate information about the state of Argentina's economy.
Mr Macri campaigned on a promise of change for Argentina.Mr Macri campaigned on a promise of change for Argentina.
Macri's vision for Argentina
'Mistakes to be fixed''Mistakes to be fixed'
Speaking in his first news conference after winning the election, Mr Macri said that "currency controls are a mistake, not providing information and statistics and not having an independent Central Bank are things we're going to correct". Speaking in his first news conference after winning the election, Mr Macri said "currency controls are a mistake, not providing information and statistics and not having an independent central bank are things we're going to correct".
Independent analysts have been critical of official inflation figures since 2011, when the government changed the way it made its calculations.Independent analysts have been critical of official inflation figures since 2011, when the government changed the way it made its calculations.
Some accused the government of President Fernandez of trying to mask the real numbers by changing its methodology.Some accused the government of President Fernandez of trying to mask the real numbers by changing its methodology.
Mr Macri said that between now and his inauguration on 10 December, his team would try to ascertain "the real state of Argentina's economy".Mr Macri said that between now and his inauguration on 10 December, his team would try to ascertain "the real state of Argentina's economy".
"We don't have an independent Central Bank," he said before asking Central Bank officials to step down so that he can put in place a team he trusts. Macri's vision for Argentina
'Chance to rebuild' Market euphoria: Daniel Gallas, South America Business Correspondent
Mr Macri, who won with 51.4% of the vote over Mr Scioli's 48.6%, called on Argentines to unite behind a common agenda which he said would focus on eradicating poverty and combating drug trafficking. There are huge expectations in the markets about how Mauricio Macri will reform Argentina's economy. In the coming days, he will set out his policy of how to end currency controls that have been causing some damage internally.
"We have the chance to build the Argentina we all want," he said. But right now, he is not revealing much of his thinking - claiming that he will only make decisions once he has a clear picture of the country's finances.
"We've been all too divided these past years," he added referring to the rift between those who backed President Fernandez and her policies and those intent on getting rid of Kirchnerismo - the policy named after her and her late husband and predecessor in office, Nestor Kirchner. That is not stopping a certain degree of euphoria in markets. Argentina's stock market index reached a record high on Monday, before giving up gains because of other events. Sovereign bonds also had a good day.
Despite the optimism, analysts know that Argentina's economic outlook is likely to worsen in the short term, before it gets any better.
Mr Macri, who won with about 51% of the vote against almost 49% for Mr Scioli, said he would focus on eradicating poverty and combating drug trafficking.
"We've been all too divided these past years," he said, referring to the rift between those who backed President Fernandez and her policies and those intent on getting rid of Kirchnerismo - the policy named after her and her late husband and predecessor in office, Nestor Kirchner.
"There is more that unites us than divides us," he said."There is more that unites us than divides us," he said.
Mr Macri said that President Fernandez had called him to congratulate him on his election win and had wished him luck. Mr Macri said that President Fernandez had called him to congratulate him and wish him luck.
Neighbourly relationsNeighbourly relations
He said he had also received phone calls from Argentina's neighbours, including Chilean President Michelle Bachelet, Uruguay's Tabare Vazquez and Paraguay's Horacio Cartes.He said he had also received phone calls from Argentina's neighbours, including Chilean President Michelle Bachelet, Uruguay's Tabare Vazquez and Paraguay's Horacio Cartes.
He stressed that he wanted to build good relations with all Latin American nations.He stressed that he wanted to build good relations with all Latin American nations.
But he criticised Venezuela's socialist government, a close ally of President Fernandez and her administration.But he criticised Venezuela's socialist government, a close ally of President Fernandez and her administration.
He accused Venezuela of abusing the rights of opposition politicians.
He said he would propose that Venezuela be suspended from the regional trade group Mercosur by invoking the "democratic clause" which allows members to be sanctioned in the event of "an interruption in democracy".He said he would propose that Venezuela be suspended from the regional trade group Mercosur by invoking the "democratic clause" which allows members to be sanctioned in the event of "an interruption in democracy".
However, last month Mercosur Secretary General Florisvaldo Fier said the clause applied only "when there is a coup".However, last month Mercosur Secretary General Florisvaldo Fier said the clause applied only "when there is a coup".
Nevertheless, Mr Macri's call for Venezuela's suspension and the presence of Lilian Tintori - wife of jailed Venezuelan opposition leader Leopoldo Lopez - at his victory rally are likely to sour relations with Venezuela.Nevertheless, Mr Macri's call for Venezuela's suspension and the presence of Lilian Tintori - wife of jailed Venezuelan opposition leader Leopoldo Lopez - at his victory rally are likely to sour relations with Venezuela.