Weekly Report - 10 March 2016 (WR-16-10)

ARGENTINA: Macri clinches support for ‘holdout’ deal

President Mauricio Macri is leaving no stone unturned in his quest to win federal congressional approval for a deal to repay ‘holdout’ creditors and grant Argentina access to international capital markets. Not content with picking off governors from the opposition Partido Justicialista (PJ, Peronists) Macri also held a meeting with mayors of provincial capitals, proving receptive to their calls for more funds but stressing that they would not be forthcoming unless congress backed the holdout deal. A significant step was taken in this direction on 8 March when several parties supported his ruling Cambiemos coalition in the combined commissions of the federal lower chamber which should secure him a decisive majority next week.

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