Argentine Peso recovers on an IMF support message and budget presentation to Congress

Tuesday, September 18th 2018 - 06:56 UTC

Full article 3 comments

Argentina's battered Peso currency inched higher and the risk of its bonds defaulting declined after the government unveiled its budget plan and the IMF said “important progress” had been made on revamping the country's standby loan agreement. Read full article

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chronic
There is nothing to fear but . . . . . your creditors and the imf and the pot bangers and the commie bastards and the anarchists and the free press (sorry - couldn't resist) and . . .
Sep 18th, 2018 - 12:48 pm - Link - Report abuse -1
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Enrique Massot
“...Macri's budget bill aims to use increased taxes on exports as well as spending cuts to bring about fiscal equilibrium...”

Duh!

It appears President Macri has just now seen the light: he discovered the fiscal benefits of taxing exports.

Cancelling export taxes was one of his first decisions as president, meaning Argentina had to make do without for over 2.5 years.

However, let's not get too enthused about the new export taxes. For each dollar made exporting primary products, exporters will pay the sum of...(let's play congas, piccolos and cowbells)...four Argentine pesos! How long until inflation totally dissipates this token tax? Agro exporters have already begun to delay sales, just waiting for that to happen.

Can't beat Macri at taxing.
Sep 19th, 2018 - 05:39 pm - Link - Report abuse 0
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chronic
Reeeeeeeeeeeeeeeeeeeeeekie:

If we can restore rg to the K's do you promise to repatriate?
Sep 20th, 2018 - 06:55 pm - Link - Report abuse 0
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