President-elect Mauricio Macri, left, plans to lift currency controls on Day 1 in office and to let the currency float, banking on investor confidence in his policies to avoid a slump in the peso.JUAN MABROMATA/AFP / Getty Images
The opposition's Mauricio Macri won Argentina's presidential election on Sunday after campaigning on a platform of change following 12 years of rule by Cristina Fernandez de Kirchner and her late husband. The two-time mayor of Buenos Aires won 51.4 per cent of the vote, with more than 99 per cent of the ballots counted, according to electoral authorities. The ruling party's Daniel Scioli had 48.6 per cent of the vote. Here is how Mr. Marci has explained what that change will involve.
Currency controls
Mr. Macri says he will lift currency controls on Day 1 in office and that he'll let the currency float, banking on investor confidence in his policies to avoid a slump in the peso. He also plans to lift restrictions on imports. The 56-year-old reiterated Monday that Argentina would have only one exchange rate "when things get in order."
Central bank
The president-elect says he would re-establish the central bank's independence and would seek to remove bank President Alejandro Vanoli, whom he claims isn't qualified for the job. "We're going to see what the real state of the public accounts is; what the real situation is of the central bank," he said Monday.
Holdouts
Mr. Macri says Argentina should seek to end a conflict with holdout hedge funds from the 2001 default. Still, faced with criticism that he is selling the country out to "vulture" funds, he pledges to seek the best deal possible for Argentina.
Energy, transit subsidies
Mr. Macri's energy adviser, Juan Jose Aranguren, said that two million families, or 16 per cent of households, will continue to receive virtually free electricity. With the budget deficit soaring to about 7.2 per cent of gross domestic product this year, many others may face cuts.
Oil sector
Mr. Aranguren says energy independence is not a priority and would import some energy needs while global oil prices are low.
Export tariffs
Mr. Macri has said he will remove tariffs on grains, including corn, wheat and sunflower seeds, and says he will reduce the tax on soy by 5 per cent a year.
Inflation
Mr. Macri says he can reach single-digit inflation within two years. He has said his government won't lie about official numbers and pledged to reform the statistics agency.
Taxes
Mr. Macri says he will revise the tax system to reflect inflation so that those who weren't paying tax in 2007 won't need to do so now. He said Monday he will raise the income tax threshold.