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Source: CNN
By: Qarnain Foda
07.28.2016

Argentina has exceptional hydrocarbon reserves, but politics has greatly affected its development.

The economy in Argentina is best described as a "pendulum", going from loose economic policies in the '80s to Washington-consensus liberalisation in the '90s and back again under the Kirchner regime.

Since the current president Macri took office in December 2015, he has been reversing the policies of his predecessor and has focused on boosting the economy with free-market measures through eliminating currency controls and lowering utility subsidies.

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