LatinFinance - March/April 2016 - 4

MARCH/
APRIL
2016
FRONT NOTES

EDITOR-IN-CHIEF Katie Llanos-Small
ASSISTANT EDITOR Sara Rosner
SENIOR REPORTER Aaron Weinman
REPORTERS Jennifer P. Roig, Miluska Berrospi,
Maria Santibáñez
ART DIRECTOR Rosa Matamoros-Sense
COVER ILLUSTRATION Fredrik Broden
CARTOON ILLUSTRATION
Christopher Weyant

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Shades of pink
Before the curtain fell on Cristina Fernández de Kirchner's presidency, she carried out her final public
act in Argentina's top office, with Bolivian President Evo Morales by her side. The outgoing leader
unveiled a bust of her late husband and former president Néstor Kirchner, whom she called one of the
'three musketeers' of socialism, in a spectacle projected on giant screens outside her official residence,
the Casa Rosada, in Buenos Aires.
Morales, presumably the last 'musketeer' in office after the late Kirchner and Venezuelan President
Hugo Chávez, may also be headed for the exit after losing a referendum to stand for a fourth term in
office in late February. While some give Morales credit for boosting growth in Bolivia's economy and
reducing poverty since he took office a decade ago, his departure points to the pink tide that is gradually ebbing throughout Latin America. 
Cuba and its thawing relationship with the US is a striking example given the country's persistent
isolation from the growth that other parts of the region have enjoyed in the last half century. The controversial visit by President Barack Obama planned for March would mark the first time a US president
has visited the island in 88 years, since Calvin Coolidge and his wife Grace arrived in Havana by battleship in 1928. 
To the south, Colombia is bearing down on a peace accord with leftist rebels that could end five decades of bloody domestic strife. Colombian President Juan Manuel Santos is still aiming to sign a peace
accord with the groups, who have agreed to participate in special courts and a peace tribunal to deal
with alleged crimes by March 23. In Brazil, President Dilma Rousseff and her center-left Workers Party
are under siege due to a pervasive corruption scandal and an economy in deep recession. In a sign of
the strengthening rule of law, prosecutors were seeking to arrest former President Luiz Ignácio Lula Da
Silva on charges related to the Lava Jato investigation in early March.
Kirchner's successor, Mauricio Macri stands out in the region for making perhaps the boldest shifts.
Lifting capital controls, export taxes
and heavy energy subsidies, normalizing exchange rates and achieving
a landmark resolution with holdout
creditors puts Macri in stark contrast
with his predecessor. Significant
challenges remain, however, as Macri
seeks to come to terms with powerful
unions and steer the holdout creditor
settlement through an oppositiondominated congress, all against an
unsettling specter - none of the last
three Argentine presidents before the
Kirchner era completed their terms.
While the pink tide may be receding, it's early days for rose-colored
glasses at the Casa Rosada. LF

4 L ATINFINA NCE.COM - March/April 2016

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Table of Contents for the Digital Edition of LatinFinance - March/April 2016
