Weekly Report - 31 March 2022 (WR-22-13)

ARGENTINA: Opposition slams proposed new tax

Just three days after the executive board of the International Monetary Fund (IMF) ended the long saga of Argentina’s outstanding US$45bn debt by approving a new restructuring programme, the ruling left-of-centre coalition Frente de Todos (FdT) proposed the creation of a new tax on undeclared foreign assets to raise funds to repay it. The proposal was fiercely criticised by the right-of-centre opposition coalition Juntos por el Cambio (JxC), which argued that it was “unviable”, poorly thought through, and designed purely to heal the rift within the FdT by appealing to the radical Kirchnerista wing of the party loyal to Vice President Cristina Fernández that voted against the IMF Extended Fund Facility (EFF).

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