Argentina's President Mauricio Macri said on Thursday he would annul an agreement his government reached to resolve a 15-year-old debt the country's postal service incurred when it was owned by Macri's father, the International New York Times reported on a Reuters story. Macri spoke after a federal prosecutor asked a judge to open an investigation into him and Communications Minister Oscar Aguad earlier this week.

A prosecutor asked to investigate Argentine President Mauricio Macri on Tuesday over a deal to resolve debt the country's postal service incurred with the government when it was owned by Macri's father, the International New York Times reported on a Reuters story. A judge will decide whether or not to open an investigation, which could hurt center-right Macri's party in congressional elections later this year. Earlier on Tuesday, Cabinet Chief Marcos Peña asked for an independent audit of the deal to resolve the debt and denied any wrongdoing by Macri's government.

Arturo Méndez heaved a sigh of relief after slapping about $300,000 in hundred dollar bills on the table to pay for a house. Carrying all that cash around the streets of Buenos Aires was now someone else’s problem. “Why couldn’t I have just got a mortgage like in any normal country?” asks Mr Méndez rhetorically — well aware that affordable mortgages scarcely exist in Argentina thanks to its chronically volatile economy. As a result, most are obliged to pay for their homes upfront, and often in dollars because of the historic instability of the peso, the Financial Times reported.

A judge indicted ex-President Cristina Kirchner on corruption charges involving public works and ordered millions of dollars of her assets to be frozen, escalating the legal troubles facing the former Argentine leader, The Wall Street Journal reported. Investigative Judge Julián Ercolini approved trying Mrs. Kirchner, along with several former aides and a businessman, for alleged racketeering and administrative fraud in connection with road projects in her home Santa Cruz province.

Less than a year ago, Argentina was on the brink of a balance of payments crisis after 12 years of populist rule. But dollars have flooded into the economy since the business-friendly government of Mauricio Macri took over last December, with central bank reserves last week surging above $40bn, the Financial Times reported.

Argentina’s shrinking economy and high unemployment are triggering ever-louder grumbling from its citizens, posing problems for President Mauricio Macri in a country where economic discontent has undone previous leaders, The Wall Street Journal reported. The difficulty for Mr. Macri is that he promised it wouldn’t be like this. When he took office in December vowing to slash inflation and jump-start the economy, he told Argentines they could look forward to a brighter future in the second half of this year.

The case of $67,000 stolen from Argentine Vice President Gabriela Michetti’s house should have ended when her bodyguard was arrested, Bloomberg News reported. Instead, prosecutors have shifted to tracing the money’s origin, making her a public example of the challenges President Mauricio Macri’s faces in weaning the country off its reliance on cash, an age-old system that in many instances hides tax evasion. Elected last November on a vow to reverse 12 years of leftist populism, Macri ended currency controls, reformed the statistics bureau and settled a toxic dispute over bond payments.

For Mauricio Macri, there may be a silver lining to the Panama Papers scandal that has dogged Argentina’s new president since he was accused of ties with offshore shell companies earlier this year, the Financial Times reported. Mr Macri is hoping that his plan for a massive tax amnesty will be helped by increasingly tough conditions globally for tax dodgers, as he attempts to restore normality to what is one of the world’s most financially volatile countries.

Argenova, the Argentinian subsidiary of troubled multinational Pescanova, is working with a legal team to prepare for filing for insolvency as soon as possible, reported Faro de Vigo. However, with all executive functions taken away from president and chairman Manuel Fernandez de Sousa, and the board of directors, it is unclear who will make the decision to enter proceedings. Deloitte, proposed by Spanish regulator CNMV as administrator to oversee the group's bankruptcy, will not take over until Thursday this week.

Argentina’s opposition-dominated Congress on Thursday approved legislation that would double the cost of laying off private and public employees over the next six months, handing President Mauricio Macri his first legislative setback since taking office, The Wall Street Journal reported. Mr. Macri, who said the law would spook investors and destroy jobs, is expected to veto it on Friday. The setback for Mr. Macri comes as pollsters say Argentines are increasingly worried about the prospect of losing their jobs.