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LatinNews Daily - 03 September 2018

In brief: Argentina

Argentina: Argentina’s agroindustry minister, Luis Miguel Etchevehere, has issued a decree temporarily suspending the national grains’ exports register ahead of the expected announcement to changes to the grains exports’ tax regime. In response to the ongoing currency and market confidence crisis affecting Argentina, the government led by President Mauricio Macri has said that it will announce major changes to its economic policies this week, among which are potential changes to the agricultural exports tax schedule that could significantly increase export taxes in a bid to shore up the public finances. According to agroindustry ministry figures, in recent weeks local producers have applied to export some 8m tonnes of grains worth an approximate US$2.4bn but these applications have now been put on hold following Etchevehere’s decree.

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