Argentina's Senate gave final legislative approval on Saturday to an emerge...
BUENOS AIRES - Argentina’s Senate gave final legislative approval on Saturday to an emergency economic reform package touted by new President Alberto Fernandez as the country’s best chance at sparking growth, reducing poverty and taming inflation.
The new leader is faced with inflation of more than 50% and an economy expected to shrink for a third straight year in 2020. He is headed into restructuring talks on about $100 billion in debt owed to bondholders and the International Monetary Fund. “It combines sound economic policy with a progressive political approach,” Burdman added. “In the past, we either had orthodox austerity without social sensitivity, or inflationary policies without macro-economic rationality.”
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