I'm John Batchew with Evan Ellis, and we're looking for good news in the Americas, and we find momentary pause in Argentina.

You will recall Malay is an outspoken and charismatic figure.

However, there's trouble in his economy.

The President of the United States and his secretary of the treasury have offered a $2 billion swap fund,

which is technical for we're bailing you out.

Argentina rallies as Mr. Besson makes the announcement.

However, there are midterm elections coming up next month, and therein lies the tail.

Professor, we just have a few minutes.

Measure Malay, is he recognizing the challenge that he has now with those midterm elections?

Malay has some difficulties, but to be specific, it's important to focus on the fundamentals.

Malay has turned the economy around. He has significantly cut government spending. He's cut some of the

transfer payments. He was able to restore faith in the Argentine currency, get freely traded again.

He was able to create a situation in which the country could begin to attract investment again.

Ironically, because of that success and probably because Malay also tried to push his own

small party, La Libretta de Vance, a little bit too far. The opposition perinists were

able to unite in local elections just a couple weeks ago and do a lot better

than expected.

And the irony is that some investors began to panic.

They began to panic actually because of what they feared was the prospect that the perinists

could begun to come back.

And so after that, you saw a fall in the peso.

And this is the same thing that happened to Maricio Macri, the previous center-right

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