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Argentina president

Argentina’s president announces new austerity measures

BUENOS AIRES: Argentina's president Mauricio Macri announced austerity measures on Monday, including the elimination of government ministries and stiff taxes on exports to reduce budget deficits and stabilise the economy. The centre-right president admitted in a speech to the nation that Argentina was facing "an emergency." "We must confront a fundamental problem: to not spend more than we have, to make efforts to balance the state's accounts," he said in the televised address. He pledged a pared-down government…