Argentina Announces New Taxes, Ministry Cuts Amid Turmoil

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4 September 2018 09:31 WIB

A journalist's phone, showing a pre-recorded video of Argentine President Mauricio Macri giving a message, lies on a chair at the Economy Ministry ahead of a press conference with Treasury Minister Nicolas Dujovne in Buenos Aires, Argentina, Monday, Sept. 3, 2018. Macri announced a withholding tax on exports and the elimination of several ministries amid economic turmoil that has sent the peso to record lows. AP Photo/Natacha Pisarenko

4 September 2018 00:00 WIB

A man walks past a sign announcing the price of U.S. dollar and Brazilian real, in exchange for Argentine pesos, at an exchange house in Buenos Aires, Argentina, Monday, Sept. 3, 2018. Macri said in a televised statement that he will also allocate more economic aid and strengthen food plans for Argentines who suffer from poverty and have been affected by skyrocketing inflation running at more than 30 percent this year. AP Photo/Natacha Pisarenko

4 September 2018 00:00 WIB

Journalists listen to a recorded message from Argentine President Mauricio Macri as they wait for a news conference by Treasury Minister Nicolas Dujovne in Buenos Aires, Argentina Monday, Sept. 3, 2018. In recent weeks, the currency crisis in Argentina has intensified, forcing the government to ask for the early release of a credit line from the International Monetary Fund under a $50 billion backup financing arrangement approved earlier. AP Photo/Natacha Pisarenko

4 September 2018 00:00 WIB

A man looks at the price of the U.S. dollar and Brazilian real at a money exchange house in Buenos Aires, Argentina, Monday, Sept. 3, 2018. Macri, a pro-business conservative who took office in 2015, promised to trim Argentina's fiscal deficit, reduce poverty and curb inflation, but has struggled under the weight of the country's economic problems. AP Photo/Natacha Pisarenko

4 September 2018 00:00 WIB

A man walks by an exchange office in Buenos Aires, Argentina, Wednesday, Aug. 29, 2018. The peso closed at 37.4 pesos per greenback on Friday and tumbled an additional 4 percent to 39.3 pesos per dollar after the president spoke, suggesting the announcement had done little to reassure investors. AP Photo/Natacha Pisarenko

4 September 2018 00:00 WIB

A man stands outside an exchange office in Buenos Aires, Argentina, Wednesday, Aug. 29, 2018. The government will now undertake a so-called 'deficit zero' plan intended to balance the budget in 2019 and staunch the currency's steep devaluation. AP Photo/Natacha Pisarenko

4 September 2018 00:00 WIB