BUENOS AIRES (Reuters) - Argentine President Mauricio Macri on Wednesday unveiled a package of welfare subsidies and tax cuts for lower-income workers to lessen the pain of an economic crisis months before elections, but his announcement failed to halt the peso currency's collapse.
Macri's announcement, which marked a major climbdown in his IMF-backed efforts to balance Argentina's budget, came after his leftist rival Alberto Fernandez romped to a landslide victory in Sunday's primary election by drawing on popular anger at painful austerity measures.