Argentina’s Macri to ask more of exporters

Argentine President Mauricio Macri said on Monday that the government would ask exporters, who have benefited from a sharp depreciation in the peso currency, to contribute more to the country’s fiscal accounts as it aims to cut its budget deficit.

In a television address, Macri did not specify what measures the government would take, but said that while export taxes were “a bad tax”, the current moment is an “emergency.” Treasury Minister Nicolas Dujovne was expected to announce details of policy changes later on Monday.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.