Elsztain Says Argentina Offers Best Opportunity in 25 Years

Source: Bloomberg
By: Pablo Rosendo Gonzales
4/27/2017

Argentina is offering investors the best opportunity in the past 25 years as President Mauricio Macri reforms the battered Latin American economy, according to real state developer Eduardo Elsztain.

“It’s hard to express how much value the changes made by Macri are bringing to the country,” said Elsztain, who runs the country’s largest publicly traded real estate company, IRSA Inversiones y Representaciones SA. “We are executing the most aggressive investment program during the last 25 years because the values are still low.”

South America’s second-largest economy will expand this year and next even as foreign investors remain cautious ahead of the October mid-term elections, according to Elsztain. The nation became the darling of the investing world in the 1990s, when President Carlos Menem tamed hyperinflation, sold off state assets and opened up the economy, something Macri is now trying to repeat.

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