An anonymous source close to the president told La Nacion newspaper Macri was not going "in any case" after taking other issues into account.
Macri asked the International Monetary Fund for $30 billion in financial aid this week as inflation in the South American country soared and the national currency sank to a record low against the US dollar on Friday.
Macri was expected to travel to Moscow for Argentina’s June 16 game with Iceland followed by a match against Croatia in Nizhny Novgorod in five days. The 2018 FIFA World Cup will be held from June 14 to July 15.
The first match between Russia and Saudi Arabia to kick off at Moscow's Luzhniki Stadium on June 14 at 18:00 local time (15:00 GMT).