After 11 years of relying on consumption to drive its economy, Argentina must focus on attracting investment, said two economic advisers to the man bidding to be the ruling party candidate in next year’s presidential election.
Argentine authorities agreed to start talks to rewrite a 1967 hydrocarbons law to determine how revenue from the world’s second-biggest shale gas reserves should be split between the federal government and provinces, three officials briefed on the matter said.
Whether Argentina’s next president is Daniel Scioli, Sergio Massa or Mauricio Macri, investors will return in droves after next year’s elections as the nation moves closer to returning to capital markets, said Claudio Porcel, head of asset management firm Balanz Capital Sociedad de Bolsa SA.
Argentina’s Buenos Aires province needs 1.8 billion pesos ($400 million) to pay provincial government employees their mid-year bonuses, newspaper Cronista Comercial reported, without saying how it obtained the information.
Argentina’s Buenos Aires province will send a bill to Congress to allow the local government to sell part of its holdings of inflation-linked peso bonds, known as Bogars, as it seeks to pay employees their midyear bonuses, Governor Daniel Scioli said.