President of Argentina Mauricio Macri - biography and interesting facts

Mauricio Macri became president of Argentina at a difficult time for the country. In the inheritance from the previous administration, severe economic problems were inherited. The inflation rate exceeded 30 percent, although the official figure was lower. Despite high taxes, the state experienced a budget deficit. There were strict restrictions on currency exchange operations.

The prerequisites for all these disasters were created in 2001, when the state defaulted. After several years of proceedings in international courts, the sovereign debt was restructured. However, one of the largest Latin American economies still could not get out of the crisis. Mauricio Macri promised positive changes and the advent of a new era.

early years

The future president was born in 1959. His father was a construction magnate and owner of a group of companies. He hoped to make his son a worthy successor to the family business. Mauricio Macri received a bachelor's degree in civil engineering from the Catholic University of Argentina. His professional career began in one of his father's firms as an analyst. Subsequently, Makri fulfilled the duties of general manager and vice-president in the family holding company. For further education, he attended the University of Pennsylvania and the Columbia School of Business.

Biography Mauricio Macri includes a rather extreme episode. He was abducted in 1991 by corrupt officers of the Argentine Federal Police and kept in custody. According to unconfirmed reports, he was released after paying a multi-million dollar ransom.

Political career

In 2003, Mauricio Macri founded a center-right party called "The Striving for Change". He hoped to create in the political arena an alternative to discredited state officials after a default. The economic crisis in 2001 was accompanied by mass riots, which the government failed to prevent.

Political views of Mauricio Macri formed under the influence of the events of that time. Strict currency control did not reduce government spending and did not save the population from inflation and falling living standards. Makri puts forward the opposite idea about the need for economic liberalization.

In 2007, the future president of the country was elected Mayor of Buenos Aires. In this post, Makri dealt with the problems of urban public transport and law enforcement reform.

Presidential activities

The election of the head of state in 2015 for the first time in the history of Argentina called for a second round. Makri won with a very slight margin from his opponent. After his official inauguration, he fulfilled his promises regarding the reduction of state regulation of the economy. The exchange control was abolished and a free floating rate of the Argentine peso was introduced. The only way to intervene on the part of the government in the market situation was the intervention of the Central Bank. This decision caused ecstasy among economists, but the national currency depreciated by 30 percent.

During the first two years of Makri's rule, liberalization did not lead to the desired results. Serious economic recovery did not happen, inflation and unemployment remained high. Tariffs for utilities have increased several times.

International relationships

Many people perceive Makri as a pro-Western and pro-American politician. However, in practice, he refrains from drastic changes in relations with other countries. Kristina Kishner, Mauricio's predecessor at the presidential post, developed economic cooperation with Russia. During her reign, dozens of contracts were signed between the two countries, including in the field of nuclear energy. Mauricio Macri's statements about Russia are vague. Without abandoning the idea of economic partnership, he is trying to achieve more favorable conditions for Argentina on contracts. It is worth noting a decrease in the political support of Venezuela and other left-wing Latin American governments under the current president. This may indicate an intention first of all to cooperate with the US and the European Union. Perhaps, Mauricio Macri thinks of Russia as a secondary economic partner.

Personal life

The new president of Argentina was married three times. His first wife was Yvonne Bordeu, the daughter of a famous racing driver. A couple has three sons. After the divorce, Makri in 1994 married Isabel Menditigi, a photomodel by profession. Relations in the family quickly deteriorated, but officially their marriage lasted until 2005. The first lady of Argentina was destined to become the current wife, entrepreneur Juliane Awad. Makri met her in 2010, soon the wedding took place. They had a daughter named Agustina.