The defeat in Parliament of the omnibus law of Javier Milei's ultra-liberal government was received negatively by the markets today.
The political difficulties of the executive in imposing the deregulation and privatization package today meant a 4% drop in the Merval index of the Buenos Aires stock exchange and a sharp rise in the dollar's price compared to the peso on the unofficial market after weeks of relative calm.
The shares of the main Argentine companies listed on Wall Street also fell, with peaks of 8%, and Treasury bonds which recorded contractions of around 3% on average.
A reaction, that of the markets, foreseen by the Minister of Economy, Luis Caputo, who, to moderate the impact of the defeat, invited us to "play down" the episode by guaranteeing that the fiscal rebalancing program will continue even without the law.
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