Argentina Comes Out Swinging, Helping Fuel Rebound in Peso
- Argentina to delay cutting export tariffs on some soy products
- Moves come a day after central bank hiked rates to 45%
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Battered by emerging market turmoil, Argentina came out swinging for a second day Tuesday. After the central bank hiked interest rates yesterday and announced plans to eliminate short-term debt, the government weighed in today with measures to boost fiscal revenue.
The government plans to freeze tax reductions and rebates to save about $2 billion over the next two years, the Treasury Ministry said Tuesday.