Argentina’s selective default and currency controls feel like the bad old days
, and it did not join until 1956. But it has been making its presence felt ever since. At the end of August a team from thevisited Buenos Aires to assess the lie of the land before deciding whether to give Argentina’s government, led by Mauricio Macri, any more of the record $57bn loan agreed last year. But as the team left town, the landscape shifted.
The reason for this dramatic reversal of policy is an equally dramatic reversal of political fortunes. On August 11th Argentina held “primary” elections . Mr Macri lost decisively to an opposition ticket featuring Alberto Fernández, a veteran Peronist, as president and Ms Fernández as vice-president .
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