Argentine congress passed capital market reform bill; Merval up 6%

Thursday, May 10th 2018 - 08:20 UTC

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The Argentine Congress passed the government's capital markets reform bill on Wednesday, seeking to boost a troubled economy by reducing the power of market regulators and loosening restrictions on some funds investing in Argentina. Investors and economists consider the reform bill key to President Mauricio Macri's effort to boost investment in the country, whose capital markets are far smaller than regional peers. Read full article

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bushpilot
“his government will negotiate a financing deal with the International Monetary Fund”

Should the IMF insist that Argentina comply with their requirement they have auditing access to the Argentine government's finances?

When mother was baking cookies in the kitchen and the bowl of cookie dough was full, it was easy to scoop of few spoonfuls of raw dough. Mother ought to have never known, except that all my brothers were doing the same thing.

That's why I believe, 169 to 69, and overwhelmingly, that this fiscal reform package is a good thing, and I support it. Now that we're going to borrow heavily from the IMF that is.
May 10th, 2018 - 03:24 pm - Link - Report abuse +1
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Enrique Massot
“The bill allows closed-end mutual funds to invest in alternative assets like real estate or farmland...”

Trying to lure investors by further de-regulating the economy and offering pieces of Argentina's real estate at this point will not change the fact that the Macri government has already borrowed more than prudence allows--with zero results.

Macri: Atrapado sin salida.
May 10th, 2018 - 06:38 pm - Link - Report abuse -2
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