Argentine stocks fell in early trading on Wednesday, following the overturning of the Omnibus Bill in Congress on Tuesday afternoon.
Dollar bonds with the most movement and maturing in 2030 fell by 3.8%, while those maturing in 2046 fell by 4.8%.
The bill, which represented Javier Milei’s first big test in Congress, passed overall last week after three days of debate. But it foundered above all on the vote, analyzed article by article.
Although Economy Minister Luis Caputo intervened to try to calm things down with a late-night tweet, asking “not to dramatize” the legislative setback, the markets paid him no attention.
Now investors are wondering whether Milei will be able to carry out the planned reforms, especially without causing social unrest. The hope that the law would be approved had pushed some dollar securities to their highest value in three years.
Source: Clarin
