ARGENTINA
Changing the Rules
Argentina’s lower house approved an important pension reform bill on Tuesday that clears the way for President Mauricio Macri to push through other plans to narrow the budget deficit.
Legislators approved the bill by 128-116 votes and two abstentions, despite more than 15 hours of debates, a riot that briefly halted the session and a general strike against the changes, Bloomberg reported. The bill had already been approved by the Senate.
Part of a broad shift to the right in Latin America, Macri said Tuesday he will continue to pursue other reforms, including changes to the tax system and labor laws. His aim is to slash the fiscal deficit, which is forecast to widen to 6.1 percent of gross domestic product this year.
The peso rose 0.2 percent to 17.53 per dollar Tuesday, the first gain in four days, the agency noted.
Others weren’t so pleased. Demonstrators hurled Molotov cocktails and rocks outside Congress during the debate, before redoubled efforts by police using water cannons and rubber bullets managed to disperse them. More than 80 officers were injured and more than 50 people were arrested Monday.
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