Argentine president Mauricio Macri seems to be in the threshold of a new political spring following on the expected results of next Sunday's midterm election when a third of the Senate seats and half the Lower House, plus several governorships will be on dispute.
After rough discussions, Argentina's Lower House committees on Tuesday managed to clear the holdouts bill for debate with changes proposed by the allied Renewal Front and criticism from Victory Front lawmakers.The bill will reach the floor next week. If it passes, it will then be up for debate in the Senate, where the situation is similar, with the ruling Let’s Change needing help from opposition lawmakers to ensure the bill passes.
Argentina's main opposition party suffered a split on Wednesday after an estimated fifteen of its lawmakers quit, party leaders admitted, handing a boost to newly-elected President Mauricio Macri's hopes of pushing his legislative agenda through Congress. In effect, Macri's political alliance in the Lower House becomes the majority grouping.
The administration of President Cristina Fernandez is preparing a package of measures in an attempt to further impede the outflow of hard currency, mainly US dollars, for which it is planning to establish a double exchange rate system. The measures target tourism, a bill of 8 billion dollars which has become dearer than the energy deficit.
In an attempt to recover the political initiative and sliding opinion polls Argentine President Cristina Fernández announced the launching of an ambitious housing program aimed at building 400.000 homes in the next four years.