Argentine economic woes could threaten urban renewal

Subject

Urban renewal in Buenos Aires.

Significance

Buenos Aires Mayor Horacio Rodriguez Larreta has led an ambitious urban transformation since taking office in 2015. The changes, focused on the most depressed areas historically underserved by the authorities, have won financial support from international organisations. In many cases, they were initiated during the eight years in which President Mauricio Macri was mayor and Rodriguez Larreta his chief of staff. The changes have been cited as a model for other cities in the region.

Impacts

• Argentina's fragile economic situation represents a threat to ongoing reforms.
• The transformation will require more than investment in infrastructure.
• One of the bottlenecks to reforms will be the integration of more talent in the city government.
• The potential created by the reforms may take time to be felt given the timeframe of long-term foreign investment in strategic sectors.