This is how Venezuela’s descent really started. First the rich and the businesspeople fled the country, followed by the middle class and anyone else of means not connected directly to the regime. Then the waves of increasingly desperate poor people began flow out.
The fact that the businesspeople are fleeing the country in the face of a return to leftist governance in Argentina is a very bad sign:
Argentine executives and graduates shocked by President Mauricio Macri’s drubbing in elections this month have begun calling and emailing in droves in search of work in Brazil, Chile and Colombia, head hunters and visa advisers told Reuters.
Executive search specialists say the resumes that have deluged their offices in those countries reached a peaked after Macri lost ground to a centre-left Peronist challenger in the Aug. 11 primary elections, causing the peso to plummet in value.
Leftist Alberto Fernandez is now the front-runner ahead of an Oct. 27 general election and has said he will seek to renegotiate a $57 billion loan International Monetary Fund deal agreed by Macri amid growing fears of a default.
Macri’s rival Fernandez has former president Cristina Fernandez de Kirchner as his running mate, heralding a potential return to “Kirchnerismo”, when Argentina had currency controls and other interventionist policies.
By last weekend, the phrase “the only exit is Ezeiza”, a reference to the country’s main international airport, had begun trending on Twitter in Argentina.
“I want my children to have a good future, and today I am not seeing it in Argentina,” said Guillermo Galia, 38, who works in textiles marketing. When he was offered a job in Italy a few weeks ago, he said he jumped at the chance.