A pedestrian looks at a currency exchange rates board at a money exchange in Buenos Aires’ financial district.
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U.S. companies hit hard by a 37 percent devaluation in the Argentine peso are nonetheless gearing up to do more business there, betting short-term pain as the South American country liberalizes its economy will lead to long-term gains. The rekindled relationship between the United States and Argentina, brought on by the country's new center-right government and its willingness to end a 14-year debt battle, is underscored by a visit later this month from U.S. President Barack Obama, the first of its kind in almost two decades.Macri lifted Argentina's currency controls less than a week after taking office on Dec. 10, seeking to revive an economy hobbled by the interventionist policies of his predecessor President Cristina Fernandez.
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