Government Steps In To Support Wine Industry

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Argentine President Cristina Fernández de Kirchner has announced a package of measures to support Argentina's wine industry during the global economic downturn. US$350,000 is to be spent promoting the industry abroad while export taxes are to be slashed in half, from 5% to 2.5%. In addition US$50mn is to be made available as loans to small- and medium-sized wine producers, with US$25mn coming from the Inter-American Development Bank (IDB) and the remainder coming from local Argentine