Argentina’s Senate has handed libertarian President Javier Milei a major win by approving his key reform bill and a twin fiscal package. The Senate approved in general terms Milei’s so-called “Bases” law by a razor-thin margin, a boost for his austerity and pro-market program that has spurred markets and improved state finances, but hit the wider economy hard. The Senate approval boosted Argentina’s international dollar bonds after investors breathed a sigh of relief that the sprawling bill that includes articles on privatizations to incentives for investment had not been rejected.
June 13, 2024
SOURCE: INVESTING
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