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LatinNews Daily - 05 September 2018

In brief: Argentina

Argentina: Credit Suisse, the international investment bank, has released a new report in which it says that the economic measures recently announced by the government led by President Mauricio Macri to deal with Argentina’s currency crisis are “generally positive”. According to the report the measures, which include plans to cut government spending and increase tax revenue via the introduction of new taxes on exports to balance the fiscal deficit by next year, will “strengthen the government’s fiscal position and reduce vulnerabilities”. However, the report notes that the plans ignore some of the other factors that have been fuelling the crisis such as “the extent of the [economic] recession”. The bank also warns that the potential political difficulties in implementing the plan will keep market sentiment on Argentina down “for the next few months”. The release of the Credit Suisse report came as an Argentine government delegation led by Economy & Energy Minister Nicolás Dujovne met with officials from the International Monetary Fund (IMF) in Washington DC to discuss the government’s new economic plan.  

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