Argentine Ambassador to US, Cecilia Nahon, on the country’s economy

Americas Now

US Ambassador to Argentina, Cecilia Nahon US Ambassador to Argentina, Cecilia Nahon

After eight years in office, Argentina’s President Cristina Fernandez de Kirchner will be stepping down in 2015. Voters will go to the polls on October 25th to elect a new president who will take office in December. The most pressing issue the new president will face is addressing the troubled state of Argentina’s economy.

Argentina made international headlines last year when it defaulted on its debt for the second time in 13 years. A long-standing legal dispute between Argentina and certain holders of its sovereign debt took a serious turn after a judge in New York decided in favor of the plaintiffs.

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Argentine Ambassador to US, Cecilia Nahon, on the country's economy

Argentine Ambassador to US, Cecilia Nahon, on the country's economy

After eight years in office, Argentina’s President Cristina Fernandez de Kirchner will be stepping down in 2015. Voters will go to the polls on October 25th to elect a new president who will take office in December. The most pressing issue the new president will face is addressing the troubled state of Argentina’s economy

It ordered Argentina to pay over $1 billion to the U.S. based hedge-fund holdouts. The government refused to comply, leaving the case unresolved.

But the upcoming presidential elections seem to be fueling public confidence in Argentina. The country’s stock market has been steadily rising this year and residents who have had difficulty paying grocery and utility bills have reported experiencing relief in recent months.

So while Argentina’s fiscal troubles are by no means over, there is optimism.

CCTV Americas Now’s Elaine Reyes spoke to Cecilia Nahon. She is Argentina’s Ambassador to the United States. The ambassador answers Elaine’s questions about the fiscal challenges facing Argentina along with some of the more positive developments taking place in the country.