Economics
Argentine Senators Debate 2014 Budget, Use of Reserves for Debt
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Argentina’s Senate today began to debate the 2014 budget bill, which proposes the use of a record $9.9 billion of central bank reserves to pay government debt.
The 72-member upper house will debate budget forecasts that envisage 6.2 percent economic growth, consumer prices rising 9.9 percent and a weakening of the peso to 6.33 per dollar by the end of next year from today’s 5.8218. The bill was approved by the lower house on Sept. 26.