Argentina - 01

Argentina: Accusation Against Macri: Escalation Potential for Midterm Elections

A prosecutor formally accused President Mauricio Macri of a conflict of interest this week in connection with the recent pardon of $128mn in public debt originally created by his family’s company, Sociedad Macri (SOCMA). In 1997 SOCMA, founded by businessman Franco Macri, the president’s father, won a concession to operate the Argentinean Postal Service, Correos Argentinos, after right-wing President Carlos Menem of the Peronist Justicialist Party (PJ) privatized the service. In 2003, however, following the country’s severe political and economic crisis, Nestor Kirchner was elected.


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