Economy Minister Luis Caputo attempted to soothe markets after Congress sent the omnibus bill back to commissions, saying that the government’s economic program has not changed despite the setback and that they remain committed to achieving fiscal balance. In pre-market trading, sovereign bonds were down 4%, while Argentine companies’ stocks were down by 7% on Wall Street. “The biggest part of our program for fiscal stabilization was not included in the bill,” Caputo said in an interview with LN+ television channel on Wednesday morning. The government withdrew the fiscal chapter of the bill in late January. Caputo also said that they are close to reaching a deal with the opposition regarding how to calculate funds for pensioners.

Source: Bueno Aires Herald February 07, 2024 23:09 UTC