Foreign policy promises may fall short in Argentina

Significance

Foreign relations is one of the areas in which President Mauricio Macri promised the clearest policy shifts, prioritising pragmatism over ideology. The visits to Buenos Aires of US President Barack Obama and various European leaders, as well as the deal with holdouts, have strengthened this line. However, both international and domestic obstacles to his focus are considerable.

Impacts

• Macri will need to avoid being identified with a return to 1990s policies.
• If it arrives, any economic boost from FDI will not be felt in the short term.
• Foreign policy orientation may become a cudgel used by the opposition if benefits are not evident.