My onsite survey of Buenos Aires, Argentina took place shortly after the country’s presidential election. The former President, right-leaning Mauricio Macri, was unseated by his left-of-center challenger Alberto Fernández. My last survey in Argentina was in 2016, shortly after Macri was elected. While starkly different candidates, the circumstances of their election are similar. Then as now, high inflation, currency devaluation, idle wages and structural issues have left Argentines looking for a change and willing to try something new.
On August 11th, Argentina held primary elections ahead of the general election scheduled for October 27th. Center-left candidate Alberto Fernandez and running mate former President Cristina Fernandez de Kirchner defeated center-right President Mauricio Macri. This result created uncertainty about the future of Argentina’s economic policy. Many investors pulled their money out of Argentina, and ratings agencies such as Fitch and Standard & Poor’s downgraded their credit rating. The peso experienced rapid and significant devaluation against the dollar, losing roughly 20% of its value in a matter of days. In an effort to stabilize the peso, Macri re-instituted currency controls that had been eliminated in 2015.
As expatriates assigned to Buenos Aires search for rental housing, they may soon ask an all too common question: "What is the ABL Tax and how much does it cost?”
From Hong Kong to Banjul and everywhere in-between At home in Hong Kong, getting around the city is simple due to our modern subway. When traveling for survey, I get the opportunity to experience the wide spectrum of ease and difficulty found in the world’s transportation systems
During both of my surveys of Buenos Aires, I used the Subte, commuter rail, and rode the buses in order to travel within the city for much cheaper than taking a taxi, albeit at a slower pace.