After years of economic and political struggle, Argentina is starting to see a resurgence in investment and entrepreneurial growth. Estaban Bullrich is a Senator Elect for Argentina, and he joins Cheddar to explain how the country is moving forward.
Bullrich explains that the government is actively removing barriers to entry for local business and innovation. The country now has multiple start-ups that are unicorns, and is seeing record levels of investment in the region. The Argentina stock market, MERVAL, is up 63% this year, making it one of the best-performing stock markets in the world.
Prior to the recent election, Bullrich served as Minister of Education for Buenos Aires from 2010 to 2015. During that time, Bullrich improved the education system and adjusted curriculum. Now, in over 3,000 schools, computer science and coding is a required course.
Stocks dipped Friday morning after the yield on the benchmark 10-year Treasury crossed 5% for the first time in 16 years and also following Fed Chair Jerome Powell's remarks on Thursday.
Federal Reserve Chair Jerome Powell said Thursday that inflation remains too high and that bringing it down to the Fed's target level will likely require a slower-growing economy and job market.
