50% Off! Beat the market in 2025 with InvestingProCLAIM SALE

Argentina’s Macri Rolls Out More Measures as Markets Recover

Published 08/16/2019, 04:55 AM
Updated 08/16/2019, 06:30 AM
Argentina’s Macri Rolls Out More Measures as Markets Recover

(Bloomberg) -- President Mauricio Macri finally got a moment of reprieve Thursday after he rolled out a second wave of economic measures while markets recovered a bit following steep losses.

Macri froze payments on inflation-linked home mortgages until December, eliminated a VAT tax on essential food products and prepared to freeze gas prices for 90 days. That follows a slew of other measures he rolled out Wednesday. The peso gained 5.5% Thursday after plunging earlier in the week, while bonds rebounded, too.

The emergency measures came after opposition candidate Alberto Fernandez defeated Macri by a landslide in Sunday’s primary vote, triggering a market sell-off on fears of a return to populism. Roberto Lavagna, the third-place candidate trailing far behind Macri and Fernandez, announced Thursday he was temporarily suspending his campaign to focus on resolving the crisis.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.