Argentina: Macri Forgives Father's $4.5 Billion State Debt

BUENOS AIRES, Argentina - In the midst of an economy heavily slowed by a drop in industrial production, rising inflation, an increase in joblessness, a rise in poverty and growing divide between rich and poor, conservative President Mauricio Macri has caused anger and saw an investigation opened after he signed an executive order that forgives his father's $4.5 billion debt to the Argentine State.

Macri, who assumed power in December of 2015, has been embroiled in controversies (apart from his faltering policies) during his time in the Casa Rosada.

Macri appeared last year on the list in the Panama Papers as a director of several undeclared companies, but denied any wrongdoing or involvement in illegal offshore accounts or shell companies established in the Macri name. He said that any companies linked to him actually belong to his billionaire father Franco Macri and...