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LatinNews Daily - 19 August 2019

In brief: Argentina’s Macri freezes fuel prices

* Argentina’s President Mauricio Macri has signed a decree which freezes fuel prices for 90 days as part of measures adopted to address the financial crisis stemming from the recent party primaries ahead of the 27 October general election. The decree, which was signed on 16 August, stipulates that for the next 90 days, crude oil deliveries will be paid based on the price agreed between producers and refiners as of 9 August but applying a reference exchange rate set at Ar$45.19/US$1 and a Brent reference price of US$59. Also on 16 August, the executive promulgated a decree which applies a rate of 0% value added tax (VAT) rate on a series of basic supermarket goods including eggs, milk, and bread.

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