Births on February 8

Mauricio Macri, Argentinian businessman and politician, President of Argentina

Mauricio Macri, born on February 8, 1959, in Tandil, Argentina, is a prominent Argentine businessman and politician whose career culminated in serving as the President of Argentina from 2015 to 2019. Known for his distinctive Spanish pronunciation of [mawˈɾisjo ˈmakɾi], Macri has been a pivotal figure in the Argentine centre-right, identifying ideologically as a liberal and conservative. He is notably the leader of the Republican Proposal (PRO) party since its establishment in 2005.

Early Life, Business Career, and Pivotal Shift to Politics

Macri's formative years included training as a civil engineer at the Pontifical Catholic University of Argentina. He further pursued advanced studies at Columbia University's business school, laying the groundwork for a robust business career. However, a traumatic experience in 1991, when he was kidnapped, served as a profound turning point. Following his release, this event became a significant catalyst, prompting him to pivot from the private sector towards a career in public service and politics.

Before ascending to the highest office, Macri significantly raised his public profile through his leadership of the renowned football club Boca Juniors. Serving as president from 1994 to 2007, he was widely credited with re-establishing the club's financial profitability and modernizing its operations, a success that greatly enhanced his recognition and popularity across Argentina. This period allowed him to cultivate a broad public image beyond his business background, demonstrating administrative acumen and a capacity for revitalization.

Political Ascent and the Founding of PRO

In 2003, Mauricio Macri formally launched his political vehicle, initially named "Commitment for Change." This platform steadily evolved and transformed into the modern Republican Proposal (PRO) party, which he has led since its official founding in 2005. His initial foray into executive politics saw an unsuccessful bid for the Chief of Government of Buenos Aires in 2003. Undeterred, Macri successfully won the election for Chief of Government of Buenos Aires in 2007, a position he held for two terms, securing re-election in 2011.

The Historic 2015 Presidential Election

Four years later, in 2015, Macri contested the Argentine general election for the presidency. This election made history as it was the first time Argentina saw a presidential runoff ballotage, a second round of voting between the two leading candidates to determine the winner. Macri emerged victorious, a landmark achievement that positioned him as the first president from a non-Peronist or Radical party to be elected in Argentina in decades, signaling a significant shift in the country's political landscape. Despite his success in 2015, Macri notably became the first incumbent president in Argentina's history to lose a re-election bid for a second term during the 2019 general election.

Key Policies and Accomplishments During His Presidency (2015-2019)

Macri's presidency was largely defined by its commitment to economic reform and the revitalization of Argentina's diplomatic relations on the global stage. His administration adopted a framework often described as "gradualist neoliberalism," aiming to integrate Argentina more fully into the global economy through market-oriented policies.

Economic Reforms and International Reintegration

• Exchange Rate System: One of the immediate and significant economic changes implemented by Macri was the transition from a fixed exchange-rate system, which had been characterized by strict controls and a parallel black market, to a floating exchange rate. This move aimed to bring transparency and stability to Argentina's currency.
• Export Taxes and Energy Subsidies: To address the nation's substantial fiscal deficit and boost key sectors, his government removed taxes on agricultural and industrial exports. Simultaneously, subsidies on energy, which had been a significant drain on state finances, were progressively reduced. While intended to foster fiscal health, these reforms often led to increased utility costs for consumers.
• Re-opening to International Markets: Macri actively sought to re-engage Argentina with global financial markets. This involved lifting stringent currency controls that had isolated the economy, restructuring the country's sovereign debt (including resolving a long-standing dispute with holdout creditors that had barred Argentina from international capital markets), and generally advocating for free-market solutions to attract foreign investment. It's important to note that some currency controls were partially reinstated shortly before his term concluded due to renewed economic instability.

Domestic and Social Policies

Domestically, Macri pursued policies that were generally considered moderate and socially liberal for a centre-right administration. His government also focused on liberalizing the energy sector, seeking to attract investment and increase production, particularly in unconventional resources like shale gas (e.g., in Vaca Muerta).

Foreign Policy Reorientation and Regional Leadership

Macri's foreign policy marked a clear departure from his predecessors, emphasizing improved relations with Western nations and a more critical stance towards certain regional governments.

• Venezuela: He was a staunch opponent of Nicolás Maduro's government in Venezuela, frequently condemning human rights abuses and advocating for the restoration of democracy. In alignment with many international actors, Macri's government officially recognized Juan Guaidó as the interim President of Venezuela during the 2019 Venezuelan presidential crisis, following Guaidó's election by the National Assembly.
• United States and International Alliances: Relations with the United States saw significant improvement under Macri. Furthermore, Argentina under his leadership strengthened its position within Mercosur, actively pursuing and ultimately achieving a landmark free trade agreement with the European Union. Macri also fostered closer ties with the Pacific Alliance, an economic bloc comprising Chile, Colombia, Mexico, and Peru, signaling a broader strategy of international economic integration.
• AMIA Bombing Memorandum: During his first week in office, in a move that underscored his commitment to transparency and justice, Macri controversially annulled the Memorandum of Understanding between Argentina and Iran. This memorandum, signed by the previous administration, had proposed a joint investigation into the 1994 AMIA bombing, a devastating terrorist attack on a Jewish community center in Buenos Aires. Argentina has historically blamed Hezbollah and Iran for the attack, and the annulment was widely seen as a rejection of an agreement perceived by many as undermining the investigation into this unresolved act of terrorism.

Legacy and Public Reception

The legislative pursuits and overall impact of Macri's presidency received a mixed reception, both domestically within Argentina and internationally. His administration faced considerable criticism for what many perceived as a failure to materially reform and stabilize the economy, particularly concerning inflation and poverty rates. However, his presidency also garnered significant praise for its commitment to anti-corruption efforts, aiming to enhance institutional transparency and accountability. Additionally, he is credited with improving Argentina's "sovereign marketability"—its ability to access international credit markets and attract foreign investment—by restoring confidence among global investors and financial institutions. This dual legacy reflects the complex challenges and varied outcomes of his term in office.

Frequently Asked Questions About Mauricio Macri

When did Mauricio Macri serve as President of Argentina?

Mauricio Macri served as the President of Argentina from December 10, 2015, to December 10, 2019.

What political party does Mauricio Macri lead?

Mauricio Macri has been the leader of the Republican Proposal (PRO) party since its founding in 2005.

What was Mauricio Macri's role before becoming president?

Prior to his presidency, Mauricio Macri served as the Chief of Government of the City of Buenos Aires from 2007 to 2015. He also presided over the Boca Juniors football club from 1994 to 2007.

What were some key economic policies of Mauricio Macri's presidency?

His key economic policies included transitioning to a floating exchange rate, removing export taxes, reducing energy subsidies, lifting currency controls, and restructuring sovereign debt to re-open Argentina to international markets. These were part of a "gradualist neoliberalism" approach.

How did Mauricio Macri's foreign policy differ from his predecessors?

Macri's foreign policy emphasized improving relations with the United States and European Union, strengthening Mercosur's international ties (leading to the EU-Mercosur trade agreement), fostering closer links with the Pacific Alliance, and adopting a strong stance against Nicolás Maduro's government in Venezuela. He also annulled a controversial memorandum with Iran regarding the AMIA bombing investigation.