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These are the trending news headlines in Argentina on Monday April 10, 2023
In a recent interview, Martín Lousteau, Unión Cívica Radical senator and mayoral hopeful for the City of Buenos Aires, discussed Argentina’s economy and the need for a collective change of course. He emphasized that shock policies should be avoided and gradually applied measures should be taken to bring order to the economy. Lousteau also highlighted the importance of political clout for the economy minister and the need for complementing the differences between the Radicals and PRO to improve Juntos por el Cambio. He pointed out that an economist should have a combination of knowledge in philosophy, sociology, political science, mathematics, history, and everything else to be a good economist. Lousteau disagreed with the focus that Juntos por el Cambio gives to economic issues and explained that to order the economy, politics should also be brought to order. He suggested that a political channel should be constructed where every imaginable economic plan can be thought up within that political channel so that it can have more political support with a broader political channel. He emphasized the need for gradual reforms and the avoidance of shock policies.
The Buenos Aires airport has become an unofficial homeless shelter, with around 100 people sleeping inside the facility every night. Many of them have been living there for months, even years, due to rising poverty in Argentina, which is making it difficult for people to afford basic necessities like rent and food. The poverty rate has risen to 39.2% of the population, with an annual inflation rate of 102.5%. The airport, known as Aeroparque, has become a refuge for many, but the company that operates it says it lacks the authority to evict them. Some passengers choose to emigrate to other countries, citing the difficult living conditions in Argentina.
In sports news, Argentina has returned to the top of the FIFA international rankings, knocking rivals Brazil down to third place. The latest update was helped by recent victories in friendlies against Panama and Curacao. France moved up to second place after their 2022 World Cup runners-up finish. Besides the top three, there were no other movements in the top 10, with Belgium, England, Netherlands, Croatia, Italy, Portugal, and Spain all holding on to their previous places. The United States men’s national team remained steady at 13th place, while Canada improved six places to 47th in the updated rankings. Central African Republic made the biggest move, jumping 10 places up to 122nd.
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These are the trending news headlines in Argentina on Saturday April 8, 2023
Argentina has officially rejoined the Union of South American Nations (UNASUR) to promote the institutional revitalization and build a more integrated region. Argentina's Foreign Minister, Santiago Cafiero, stated that the move is crucial for the country, as it will consolidate a more integrated region with greater intra-regional trade and higher levels of cooperation for development. President Alberto Fernandez had announced the decision to rejoin the bloc on March 21, during a meeting with members of the Puebla Group and the Latin American Council for Justice and Democracy. After Uruguay's withdrawal from the organization in 2020, only Guyana, Suriname, Bolivia and Venezuela remain in the union.
Argentina's Foreign Minister, Santiago Cafiero, has stated that his country is continuing to pursue a peaceful resolution with the United Kingdom over the territorial dispute regarding the Malvinas Islands, also known as the Falkland Islands. In an interview with Télam news agency, Cafiero stressed the importance of negotiations and Argentina's determination to reclaim the land. He emphasized that Argentina has the right to preserve its territorial integrity and called on international law and the resolutions of the United Nations to be complied with. Cafiero also criticized London's attempts to promulgate a particular fact pertaining to self-governance, which he censured as false. He further underlined the need to disseminate knowledge globally regarding Argentina's rightful entitlements to the region.
Argentina has announced its plan to aid the Vanuatu Pacific archipelago's recovery from two powerful cyclones and an earthquake that hit in early March. The Argentine Chancellor Santiago Cafiero will send the "Pyam 33mg" water-purification tablets to Vanuatu through the national Agency for International Cooperation and Humanitarian Assistance. The pills will allow Vanuatu to produce a million liters of drinking water. The aid will go to the two cities that have suffered the most from natural disasters, Shefa and Tafea. Vanuatu has 83 islands with about 450,000 square kilometers of territorial waters and has the highest world risk of natural disaster occurrence. The local authorities hope that the United Nations General Assembly (UNGA) approves a resolution to give greater priority to fighting climate change, to which small island states are highly vulnerable.
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These are the trending news headlines in Argentina on Thursday April 6, 2023
Argentina is facing billions of dollars in legal losses after courts in the US and UK ruled against the country in a series of lawsuits related to growth-linked securities and the nationalization of an oil company a decade ago. This is the latest challenge for Argentina, which is struggling with 100% inflation, dwindling foreign reserves, a drought that is damaging export crops, and a looming presidential election in October. Experts predict that the settlements could be in the billions of dollars. Argentina's dollar bonds extended losses after the latest ruling out of the UK, which holds the nation liable for losses in so-called GDP warrants after the country changed its method of calculating growth. A third US-based court case will be heard later this year over a similar dispute involving Argentina’s dollar-denominated warrants. Argentina is no stranger to lengthy court battles and the country's new administration will inherit both the potential legal payouts, as well as a $65 billion pile of overseas bonds that begins maturing in 2025.
The International Monetary Fund (IMF) has lowered economic targets for Argentina, but some analysts believe the targets are still too high and may set the country up for further failure. The IMF cut the level of foreign currency reserves Argentina needs to build up by the end of this year due to a drought that has affected production of top exports soy and corn. However, analysts have criticized the IMF's inflation aims, crop production forecasts, fiscal targets, and reserves buildup aims as overly optimistic and out of Argentina's reach. Goldman Sachs' Sergio Armella wrote that Argentina seemed unlikely to have met the adjusted reserves and fiscal targets for the first quarter and that the country would face rising pressures as it approaches October's presidential elections.
MotoGP rider Marco Bezzecchi has described his emotions as "desperate" upon learning that the Argentina GP would be held in the wet. However, he went on to make history at the race, taking his maiden victory in MotoGP and the first for Valentino Rossi's team. Bezzecchi dominated the race from the start, finishing over four seconds ahead of his nearest rival. He admitted that mentally, the rain made the race much tougher, but he managed to stay focused and calm, telling himself to be gentle with the bike and keep his concentration. Despite not understanding why he was stronger than the rest of the field, Bezzecchi was overjoyed with the result, saying it was "something that you can’t describe, it’s incredible".
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These are the trending news headlines in Argentina on Wednesday April 5, 2023
Argentina's monthly inflation is likely to have hit its fastest pace in at least seven months, with consumer prices forecast to have jumped 7% from the previous month, posing a challenge for Economy Minister Sergio Massa ahead of the October elections. The country's currency controls, multiple exchange rates, and price freezes on thousands of items are proving ineffective in controlling inflation, which could climb further above 100% annually, challenging Massa's political future. The country's dependence on agricultural exports and the impact of weather on the economy and politics mean that governments have a greater chance of success with fair weather, while drought years leave fragile financial and economic markets with recovery possible only after two harvests. The exit from the current crisis is likely to be slow, taking at least two years, and governments should consider insuring farmers against unpredictable weather to protect agricultural production and the broader economy.
Argentina's economy is facing a significant setback as droughts continue to impact the country's agriculture industry. Losses of $12 billion to $15 billion are predicted for the country's export earnings due to drought, and history shows that climatic phenomena like La Niña can have a considerable effect on Argentina's economy and sitting governments. Extended droughts with a lack of rainfall frequently have political consequences, especially in electoral years. In general, La Niña results in a circulation of the atmosphere with a negative impact on the distribution of humidity over Argentina. Combined with drought, heat waves in summer and frost in both early and late winter become lethal weapons against agricultural production. The rainfall of January and February has brought some relief in some zones, but it did not reach all the country or all the crops. The most recent calculations from the Rosario Stock Exchange forecast a plunge in hard currency earnings due to less exports. It is worth considering that the last 70 years have resulted in 26 years of El Niño, 24 years of drought from La Niña, and 20 neutral years with normal rainfall. The country's dependency on agriculture continues to have significant political and economic implications, especially during drought years.
Binance, the cryptocurrency exchange currently facing regulatory scrutiny in the U.S., is expanding its services in inflation-hit Argentina. Argentines can now buy and sell digital currencies directly with local pesos, allowing them to transfer pesos into a Binance account via a local partner. This move comes as cryptocurrencies become more attractive in Argentina due to annual inflation rates above 100%. While Argentina does not regulate crypto exchanges, the central bank has repeatedly warned about the risks of cryptocurrencies and markets regulator CNV is backing a bill to create a registry of providers offering virtual assets. Despite regulatory concerns, Argentina was among the top 15 countries in the world for crypto adoption last year, according to the Chainalysis index.
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These are the trending news headlines in Argentina on Tuesday April 4, 2023
In Argentina, a top law enforcement official of Buenos Aires province was attacked by protesting bus drivers on Monday. The protesters were demanding a crackdown on crime after a fellow bus driver was slain during a holdup in the city earlier that day. As TV cameras followed him, the official, Sergio Berni, approached the protesters, who began attacking him with punches, kicks and rocks. Berni suffered skull and cheekbone fractures and had to be removed from the scene by police officers. Despite his injuries, Berni vowed to track down the perpetrators in the slaying of the bus driver.
Argentina is set to launch a "soy dollar" preferential exchange rate for farm exports on Monday, aimed at boosting the agricultural sector and replenishing foreign reserves in the central bank. President Alberto Fernandez hopes the plan will generate some $15 billion between the second and third quarters of 2023. The new exchange rate will be an incentive for soybean exports and will be maintained for the next 90 days to stimulate foreign trade in regional economies. The move comes after the agricultural sector lost around $20 billion last year due to a drought that hit crops of soybeans, corn and wheat, slowing the economy amid galloping inflation. Argentina is the world's top exporter of soy oil and meal and the third-largest exporter of corn.
MotoGP rider Alex Marquez says he's not concerned with what people think about him as a rider, following his podium finish at the Argentina Grand Prix. The Gresini Ducati rider qualified on pole for the first time in his MotoGP career and went on to secure his first MotoGP rostrum since the 2020 Aragon GP. Marquez, who had a difficult two years with LCR Honda in 2021 and 2022, said he chose Ducati and the Gresini team because he wanted to be with the best bike and a proper team. While he admits his results have exceeded his expectations, he says he still needs to work on riding in the best way for the Ducati.
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These are the trending news headlines in Argentina on Friday March 31, 2023
In a bilateral meeting at the White House, Argentine President Alberto Fernández and US President Joe Biden discussed the heavy economic challenges faced by both leaders upon taking office. Biden repeated several times that Fernández inherited a destroyed economic situation from his predecessors, like himself. They also spoke about the need for a strategic alliance based on food, energy, and critical minerals, such as lithium.Fernández's delegation sought support from the United States in discussions with the International Monetary Fund (IMF) and other multilateral organizations. The meeting lasted for over an hour, with the participation of top officials such as US Treasury Secretary Janet Yellen, US National Security Advisor Jake Sullivan, and US Secretary of State Antony Blinken.Yellen's presence was significant for Argentina, given the ongoing talks with the IMF. Biden reiterated his support for Argentina at multilateral organizations, and Yellen endorsed the country's fiscal efforts while emphasizing the importance of the Central Bank's reserves.During the meeting, Biden praised Fernández's leadership in the region and spoke of the possibility of working together in uncertain times. The meeting ended with a detailed discussion of how to increase food production, with projections for production growth in 2024 presented by Argentine officials.
Argentina has put forward a formal bid to host this year's Under-20 World Cup after Indonesia was stripped of its rights to stage the tournament. FIFA President Gianni Infantino said that Argentina was the only country to submit a formal offer, adding that the decision will be made by the FIFA Bureau in two or three days. The tournament is scheduled to start on May 20. Infantino praised Argentina's football history and facilities, while Israel's Ambassador to Argentina, Eyal Sela, expressed support for Argentina to host the tournament, saying they deserved it as world champions.
Pope Francis' hospitalization in his homeland of Argentina due to a respiratory infection has led to an outpouring of prayer and well-wishes for the 86-year-old pontiff. Despite concerns about his health, most people remain confident that he will soon fully recover. The Vatican has reported that his condition is improving and that he has resumed working while treatment continues. In Buenos Aires, where the pope grew up and spent his early years, people gathered in prayer for his health and strength. Many expressed their admiration for the pope, who is very influential and beloved worldwide. Despite the seriousness of his illness, people remain hopeful and confident that he will overcome it with his characteristic strength and resilience.
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These are the trending news headlines in Argentina on Thursday March 30, 2023
In a recent friendly match against Curacao, Argentina captain Lionel Messi scored his 100th goal for his country, becoming the all-time leading scorer for the reigning world champions. The seven-time Ballon d'Or winner reached this milestone with a hat-trick in a 7-0 win, opening the scoring in the 20th minute and adding two more goals before the half-hour mark.
Fellow goalscorer Nicolas Gonzalez praised Messi, saying "You cannot describe Messi in words. He's the best in the world and he shows it match after match, day after day. Every time he touches the ball, he makes you smile." Messi now sits in third place on the all-time list of international goalscorers, behind Cristiano Ronaldo of Portugal and Ali Daei of Iran.
This match was Argentina's second since their dramatic World Cup victory over France in December, and it was always going to be about Messi reaching the 100-goal mark. With this achievement, Messi continues to solidify his status as one of the greatest footballers of all time.
President Joe Biden met with President Alberto Fernández of Argentina at the White House, where they discussed strengthening democratic institutions and good governance practices in the region. The two leaders also talked about supporting the people of Ukraine and responding to the consequences of Russia's invasion, including on food security. President Biden praised President Fernández's work on tackling climate change and expressed his support for continued cooperation in the energy and critical minerals sectors. Additionally, they pledged to deepen US-Argentina cooperation on leading-edge technology and work with other G20 countries to reform multilateral development banks to better address global challenges. This meeting between the two leaders highlights the importance of cooperation and collaboration between nations to address critical issues and promote global progress.
As of today, Marcos Galperin topped the list of the wealthiest people in Argentina, with an estimated net worth of $5.1 billion US dollars. He was followed by Gregorio Perez Companc ($2.9 billion), Eduardo Eurnekian ($2.0 billion), Alejandro Bulgheroni ($1.8 billion), and Eduardo Costantini ($1.2 billion), who rounded up the top five. These figures are according to the latest Argentina billionaires list of 2023. The wealth of these individuals was mainly accumulated through various sectors, including e-commerce, energy, and real estate.
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These are the trending news headlines in Argentina on Wednesday March 29, 2023
Argentina and Brazil have signed a letter of intent to share military technology by incorporating 156 Guaraní 6×6 armored combat vehicles to the Argentine Army’s fleet. The deal will enable both countries to conduct combined military operations with an efficient asset and contribute to stability in the region. Of the 156 units Argentina seeks to acquire, 120 are personnel carriers with machine gun towers, 27 are infantry combat vehicles with gun towers, and nine are Command Post vehicles. The contract is between Argentina’s Army and the Brazilian vehicle manufacturer, and production of the vehicle includes parts manufactured in Argentina in the motor vehicle factory IVECO, located in Córdoba province. The signed letter of intent includes the transfer of technology for the progressive increase of parts manufacturing in Argentina, logistics support, and training of Army crews and technical personnel, which is seen as a real incentive for Argentina's defense industry.
Winegrowers in Argentina's Mendoza region are battling a formidable pest: ants. The ants, which can lift 10-50 times their body weight, devour the green parts of the vines, making photosynthesis tricky and ripening berries impossible. With 28 ant species in the region, including one with a particularly nasty bite, some growers report a reduction of yield. The problem is particularly acute in organic vineyards, which offer fewer ways to combat pests. Winegrowers are experimenting with methods such as destroying anthills by hand, but no solution has yet proved entirely effective. The hunt continues for an eco-friendly solution to this pest problem.
Argentinian champion Horse and U.S. Grade I winner Ivar (Brz) is set to begin his new career as a stud in Buenos Aires, Argentina next month. The 7-year-old will stand at Haras Carampangue, where he will join four other stallions. Breeders in Argentina are already eager to send their mares to Ivar, and Bonne Chance Farm CEO Alberto Figueiredo estimated that the new stallion will breed around 140 mares in his first season. Ivar's breeder and co-owner Stud Rio Dois Irmaos has retained a 55% ownership share in the stallion, but the syndicate also includes several other farms. Ivar was campaigned by Kentucky-based Bonne Chance Farm and its South American partner Stud RDI before retiring following his second-place finish in the GI Pegasus World Cup Turf Invitational S.
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These are the trending news headlines in Argentina on Tuesday March 28, 2023
Argentina marked the 47th anniversary of the US-backed military coup that overthrew the government of President Isabel Martínez de Perón in 1976. The event installed the bloodiest dictatorship in the history of the country, marked by state terrorism and human rights violations. During the seven years and nine months of military dictatorship, Argentine security forces hunted down and silenced anyone believed to be resisting the military junta or associated with socialism, left-wing Peronism, the Montoneros movement, or against the neoliberal economic policies imposed by the military junta. Over 30,000 students, activists, trade unionists, writers, journalists, artists, and any citizens suspected of being left-wing activists were kidnapped, tortured and disappeared. The armed forces seized their property and their babies. Several thousands were killed in the “planes of deaths” and thrown into the Atlantic Ocean or La Plata River. This year, hundreds of thousands of Argentines marched across the country to remember the victims of enforced disappearance and to say "never again." They demanded that the judicial processes against the perpetrators of those horrendous human rights crimes continue, and President Alberto Fernández announced the construction of a new Space for Memory and the Promotion of Human Rights in Campo de Mayo, a military base and one of the secret detention centers used by the military regime.
Argentina has banned the sale and import of e-cigarettes and heated tobacco products due to their potential harm to health. The Ministry of Health issued a resolution prohibiting the distribution, commercialization, and advertising of these products throughout the country. The ban includes all accessories and cartridges intended for the operation of the devices. The health department cites multiple independent studies that demonstrate the harmful and potentially harmful chemicals produced by these products, including nicotine, which induces dependence and is particularly attractive to children and adolescents. Although e-cigarette consumption in Argentina is low among adults, it has increased alarmingly among adolescents. The ban aims to prevent tobacco initiation in young and non-smoking adults and reduce the enormous impact of tobacco consumption on the country's public accounts.The XXVIII Ibero American Summit, the first to be held in person after the Covid-19 pandemic, concluded with the Declaration of Santo Domingo, which supports Argentina's claim over the Falkland/Malvinas Islands. The document also covered issues such as gender equality, energy transition, and the promotion of Spanish/Portuguese bilingualism. The next gathering is scheduled for Nov. 29, 2024, in Quito, Ecuador. The Ibero-American cooperation action plan for 2023-2026 was approved, including plans for alternative economies, food security, and climate change mitigation. The Community of Portuguese-Speaking Countries was admitted as a consultative observer to the Ibero-American Conference. The Quadrennial Action Plan for Ibero-American Cooperation 2023-2026 focuses on strengthening regional cooperation action to achieve the 2030 Agenda for Sustainable Development.
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These are the trending news headlines in Argentina on Monday March 27, 2023
The Argentina national team's training facility has been renamed in honor of their star player Lionel Messi. The facility, previously known as Casa de Ezeiza, will now be called Lionel Andres Messi, according to the country's football association. The decision comes as a tribute to Messi's heroics in leading Argentina to their first World Cup victory in 36 years. The unveiling ceremony was attended by several current and former players, including Messi himself, who expressed his happiness at the tribute. Messi has been voted the world's best player a record seven times and won numerous major honours, including the Copa America, 11 league titles, and four Champions League titles. He will now lead Argentina in a friendly against Curacao before returning to Paris St Germain.
Fitch Ratings downgraded Argentina's foreign currency debt on Friday by two notches to leave it hovering one level above default. The debt downgrade from CCC- to C suggests that the ratings agency believes a default is "imminent," and comes shortly after the government decree forcing domestic public sector entities to swap their foreign currency-denominated debt for debt denominated in the domestic currency, the peso. Fitch said Argentina would be downgraded further still to Restricted Default once the exchanges have been carried out. The government's decision to halt the fall in its international reserves due to a scarcity of foreign currency and exchange volatility in the financial sector has raised concerns about the country's financial stability. Argentina's net international reserves are considerably lower than the reported figure of over $37.5 billion, analysts say. Inflation hit just under 95 percent for 2022 and surpassed 100 percent in the 12 months to February.
Tango, the beloved dance of Argentina, is getting a modern twist as a new generation of dancers challenge traditional gender roles. While the dress and music have evolved over the years, the roles of the dancers have remained fixed - until now. Tango Queer, one of the first LGBTQ+ tango classes in Buenos Aires, has created a space where dancers of any gender can lead or be led. Founded 17 years ago by Mariana Docampo, Tango Queer was created for "lesbians and feminists" but welcomes anyone who wants to be liberated from the binary roles of tango. The studio provides a safe space for people of all sexual and gender identities to practice tango and dance with whoever they want.
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These are the trending news headlines in Argentina on Thursday March 16, 2023
Argentina's annual inflation rate has skyrocketed past 100%, according to government data released on Tuesday, marking the first time it has hit triple figures since the country's period of hyperinflation in 1991. Inflation over 12 months rose to 102.5% in February, with a 6.6% monthly rise in the Consumer Price Index and a 13.1% year-to-date increase. Rising prices are squeezing purchasing power and savings, and affecting the country's economic growth and ruling party's chances in upcoming elections. The government's attempts to control inflation, such as capping prices and limiting grain exports to boost domestic supply, have not been successful, leading to frustration and anger among the public.
Argentina is experiencing an extreme heatwave that is causing damage to crops, increasing wildfires, and adding further strain to an already struggling economy. According to a climatologist, this late-summer heatwave is unprecedented in Argentina's history. The country experienced its hottest summer on record, and temperatures in the first 10 days of March were 8 to 10 degrees Celsius above normal in east-central Argentina. The heatwave has been caused by the La Niña climate pattern, which tends to bring hotter, drier summers to the region. The situation has further frustrated Argentines, who are already struggling with the effects of a deep economic crisis.
Argentina and Ecuador are embroiled in a diplomatic dispute after a former Ecuadorian Cabinet minister who had been convicted of corruption and taken refuge with the Argentine ambassador escaped from Ecuador’s capital to Venezuela. Both countries have expelled the other's ambassador due to their disagreement over the handling of María Angeles Duarte. Duarte had been living in the residence of the Argentine ambassador in Quito since August 2020 to avoid serving an eight-year corruption sentence. Argentina had offered Duarte political asylum, but Ecuador refused to grant her safe passage. Ecuador accused Argentina of complicity in Duarte's escape and summoned its ambassador, Gabriel Fuks, telling him to leave the country. Argentina followed suit, ordering the expulsion of Ecuador’s ambassador in Buenos Aires, Xavier Monge. While experts say this may not lead to a rupture in relations, the two countries are facing a difficult situation, with each blaming the other for the dispute.
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These are the trending news headlines in Argentina on Tuesday March 14, 2023
The International Monetary Fund (IMF) has called on Argentina to address "policy setbacks" in its latest quarterly review. The country is facing challenges, including foreign reserve losses, galloping inflation, and a severe drought affecting its crucial commodities sector. The IMF has asked Argentina to make a stronger effort to tackle these issues as part of its US$44-billion program. The next disbursement of US$5.3 billion, pending executive board approval, will be used to repay debts owed to the IMF from a previous failed program. Despite maintaining the primary fiscal deficit target, lost tax revenue due to the drought threatens the government's fiscal effort, making spending cuts politically costly in an election year. The current agreement is already on its third Argentine economy minister after the first two left the job last July amid an ongoing political crisis.
The Lithium Triangle in Argentina is a region with immense potential for powering the green transition, but it also presents environmental challenges. As the demand for lithium grows, so does the interest from energy companies in exploiting the region's resources, leading to a surge in mining activities. However, mining operations for extracting lithium come at a cost to the environment. They have caused significant damage to the region, putting clean water sources at risk and harming local ecosystems. It is therefore essential to ensure that proper environmental regulations and oversight are in place to minimize the impact of lithium extraction on the environment while maximizing the economic opportunities for the region. The Innovation News Network provides a comprehensive guide to the Lithium Triangle in Argentina, including its economic opportunities, environmental challenges, and existing legal frameworks applicable within Argentinean borders.
China's plan to build a multipurpose port project in Río Grande, Argentina with funds from a Chinese company has sparked controversy due to global conflict risks, according to a report by EFE news agency. The port project has drawn attention due to its direct access to the Atlantic Ocean and passage to Antarctica. Chinese interest in developing its fishing fleet strategy in the South Atlantic and projecting its Antarctic strategy has caused concern among experts. The Argentine government has said that the construction of the port is not feasible. However, the controversy continues as the Chinese company, Shaanxi Chemical Industry Group, has committed to building a chemical plant in addition to the port terminal. Experts warn that China's presence and pressure in southern Argentina could pose a serious problem, especially with ships carrying out illegal fishing. China's interest in the port could give it a gateway to Antarctica, allowing it to claim a territorial space on the white continent in the future.
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These are the trending news headlines in Argentina on Monday March 13, 2023
Argentina's initial fervor for Pope Francis has faded, with the first Latin American leader of the Catholic Church now generating divided opinions and less enthusiasm in his home country. Despite still enjoying tango music, Francis has not returned to Argentina since leaving for the conclave that elected him in 2013. Analysts suggest he is keeping his distance to avoid being drawn into the political polarization that has divided Argentines over the past two decades. Reports from the Holy See's Secretariat of State advise Francis against visiting his home country due to the potential for conflict.
Morocco's corn imports from Argentina are set to drop as the South American country faces the worst drought in over 60 years. According to data from the United States Department of Agriculture, Morocco's corn imports from Argentina are set to reach 2.3 billion tonnes in 2023, down from 2.5 billion tonnes a year earlier. Argentina's overall corn exports are set to drop by 4 billion tonnes, going from 33 billion tonnes in 2022 to 29 billion tonnes in 2023. This drought could result in farmers facing a cumulative loss of $14 billion and a reduced production of up to 50 million tonnes worth of soy, corn, and wheat.
The Central Bank of Argentina has approved a new 2,000-peso bank note honoring two medical pioneers. The note will feature the Malbrán Institute, Dr. Cecilia Grierson and Dr. Ramón Carrillo, who were forerunners in the development of medicine in the country. Dr. Grierson was Argentina's first physician and created the first nursing school in Latin America, while Dr. Carrillo was a neurosurgeon, neurobiologist, sanitary doctor, and Argentina's minister of Public Health who worked to end epidemics of malaria, typhus and brucellosis epidemics and drastically reduced the infant mortality rate. The Malbrán Institute played a significant role during the coronavirus pandemic. The new bank note will highlight their contribution to science and medicine in Argentina.
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These are the trending news headlines in Argentina on Friday March 10, 2023
Argentina is facing a deepening economic crisis as the country experiences its worst drought in over 60 years. Already struggling with spiraling inflation, the decline in grain production - Argentina's main export - has raised default fears and put at risk targets agreed on with the International Monetary Fund. The Buenos Aires grain exchange has reduced its harvest forecasts again, while the Rosario exchange has slashed soy production outlook to the lowest since the turn of the century. Farmers in the fertile Pampas region are expected to face losses of $14 billion, with the output of soy, corn, and wheat expected to be 50 million tonnes less. As general elections approach in October, the drought is a huge blow to Argentina's economy.
The city of Rosario is under siege as gangs continue to wreak havoc, resulting in the killing of an 11-year-old boy and a threat against football superstar Lionel Messi. In response, the country has launched a massive offensive on gangs in the area, bringing in 575 security personnel to address the spate of attacks. Minister of Security Anibal Fernandez promised to "fight to the bone" to deal with the gangs, who have been responsible for one murder per day this year. On the streets of Rosario, people are living in fear as the gangs steal, pressure, squeeze, and hurt them. The situation has prompted a national response to get to the root of the issue.
In a move that has been long in the making, Argentina has officially cancelled the Córdoba-Mt. Pleasant route. The authorization granted to LATAM Brasil to serve Mount Pleasant in the Malvinas/Falkland Islands from Córdoba was officially revoked by the Argentine Government, according to the Official Gazette published on Tuesday. The Argentine Foreign Ministry claimed that the decision was taken "after presenting the United Kingdom with numerous initiatives to achieve greater connectivity between the Argentine mainland and the Malvinas Islands", but that these efforts were stymied by the British government. This cancellation follows years of negotiations and failed attempts to establish direct air connectivity between the mainland and the islands. The Argentine Government has expressed its willingness to resume negotiations on sovereignty and greater connectivity between the Malvinas Islands and the rest of the Argentine territory.
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These are the trending news headlines in Argentina on Thursday March 2, 2023
Argentina has been hit by a huge power outage that affected several provinces, leaving residents without electricity as temperatures soared above 35 degrees Celsius. The blackout hit large parts of the Buenos Aires Metropolitan Area and many other regions across the country, including Mendoza, Santa Fe, Córdoba, and Neuquén. The outage occurred after the Atucha I nuclear power plant went offline due to a problem with the grid. The government is investigating the cause of the power cut, which also caused the websites of the national regulator and local electricity market to go offline. The incident arrived during a heatwave affecting 11 provinces, with Buenos Aires City recording its hottest summer since 1906.
Argentina's President Alberto Fernández has delivered his final state-of-the-nation speech to the Congress, defending his vice-president Cristina Fernández de Kirchner and condemning a failed shooting attack against her. In his speech, Fernández criticised the actions of the Judiciary and highlighted the impact of the Covid-19 pandemic on the country. He also slammed a recent Supreme Court ruling that favoured the Buenos Aires City government over the national government and accused judges of seeking to disqualify Kirchner from politics through a campaign of persecution. Fernández called on the Judiciary to deepen its investigation into the perpetrators of the attack and for them to act with the same haste with which they file cases against judges and powerful businessmen.
Argentina has suspended its poultry exports after confirming its first industrial case of bird flu, according to the country's agriculture secretary. The case was detected in the southern province of Rio Negro, an area with low poultry density. Secretary Juan Jose Bahillo said that the suspension of exports is in line with international regulations and aims to prevent further spread of the disease. While the secretary confirmed that Argentines can still consume the poultry products, fears are raised that the disease could spread and hurt exports from the South American nation, which generates poultry exports valued at just over $350 million per year.
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These are the trending news headlines in Argentina on Wednesday March 1, 2023
Argentina's inflation is expected to exceed government targets, according to private estimates. Analysts predict prices will rise by 20% in the first quarter of 2022, pushing Economy Minister Sergio Massa's goal of a 3% monthly rate by April out of reach. Food prices in Argentina have surged in February, overheating the consumer price index, and taking the year-on-year variation beyond 100 percent. Private estimates for the first quarter of the year are already hovering around 20%, exposing the difficulty in curbing inflation inertia with price controls. The government's goal of closing the year at 60% is now considered unlikely by experts.
In a tragic discovery, the remains of a man who went missing earlier this month have been found inside a school shark that was captured by local fishermen in southern Argentina. The man, Diego Barría, was last seen riding his all-terrain vehicle near the coast in the southern Chubut province on Feb. 18. His family recognized his remains due to a visible tattoo. Officials are investigating the cause of Barría's death, but it is presumed to be an accident. DNA testing will be carried out to confirm the identity of the remains. Our thoughts go out to Barría's family and loved ones during this difficult time.
Argentina's aviation sector is slowly recovering from the COVID-19 pandemic, and airlines are positioning themselves for a robust rebound. Pre-pandemic, start-up low cost carriers were working to establish themselves in a market that was liberalising. With two ultra-low cost airlines and a national carrier in Argentina, there is a bit of rationality in the market. Consolidation created opportunities for Argentina’s ultra-low cost airlines, which have been able to continue on their growth trajectories. Argentina's flag carrier, Aerolineas Argentinas, is also citing a solid recovery in its operations. As the country's recovery in international demand gains momentum in 2023, its market evolution could mirror Mexico's trajectory.
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These are the trending news headlines in Argentina on Tuesday Feb 28, 2023
Argentina is discussing lowering its net reserve target for the third time with the International Monetary Fund (IMF). A staff-level agreement may be announced as early as February 27, with the IMF executive board voting on the fourth review of the program around March 22. Negotiators have met in Buenos Aires and Washington for the fourth review of the program, with both sides discussing a smaller figure for net reserve accumulation in 2023. The current deal is seen as the only major anchor providing some stability to the Argentine economy. Economy Minister Sergio Massa has stressed the need to be "realistic" and "predictable" with achievable objectives.
In Argentina, the construction of a new pipeline is a promising sign for the country's energy industry. The 356-mile long pipeline will carry natural gas from remote northern Patagonia to the east, helping to relieve bottlenecks that have stifled production of fossil fuels. This is a significant step towards reducing the country's dependency on fuel imports and regaining its status as a key energy exporter. The project comes as the US shale boom slows and global gas markets are affected by the war in Ukraine. Despite government restrictions, the Vaca Muerta geological formation is showing signs of renewed potential.
Argentina's World Cup-winning manager, Lionel Scaloni, has signed a contract extension until 2026, just a few months after leading his country to glory in Qatar. The 44-year-old coach, who initially faced opposition in securing the job, ended Argentina's 28-year trophy drought by leading them to the 2021 Copa America before winning the World Cup the following year. Scaloni, who was capped seven times for his country as a player, has been rewarded for becoming the fourth youngest manager in history to lift the World Cup. Despite pressure to craft a squad that could beat anyone, he has earned a new contract and the chance to continue leading Argentina's football team.
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These are some of the Trending news in Argentina on Thursday February 23rd, 2023.
Argentina's government has announced the allocation of one billion pesos in fresh funds to combat the spread of avian influenza. Economy Minister Sergio Massa has committed the new "monetary reinforcement" to reinforce health and sanitary controls, laboratory equipment, supplies, computer equipment, and human resources. The move comes after the detection of at least eight cases of bird flu in several provinces. The officials fear that the virus's rapid spread could harm the country's exports. Bird flu affects both poultry and wild birds and can occasionally affect exposed humans. The National Health Ministry has stressed that there is no risk to the population, and transmission to humans is considered low.
Construction costs in Argentina have reportedly doubled during the last 12 months, in line with high general inflation, putting pressure on the government’s public works plans in an election year. The statistics agency Indec says that construction costs in Greater Buenos Aires have increased by 97.9% year-on-year. Bids for public works tenders across the country are reported to have routinely exceeded reference budgets. General inflation in Argentina reached 98.8% in the last 12 months ending in January. This has further complicated price control efforts from political parties.
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These are some of the Trending news in Argentina on Wednesday February 22nd, 2023.
Argentina's racism bias was exposed after the death of Fernando Sosa, a son of Paraguayan immigrants who was killed by men who screamed racist slurs as they kicked him to death in a nightclub altercation. Despite the murder sparking public outrage, most people perceived the crime through the lens of youth, sport, masculinity and class, with the racial element as a subordinate variable. The case exposed Argentina's failure to have a national reckoning over racism, with some Argentinians continuing to question whether racism exists. Racism has been timidly debated in Argentina and across Latin America.
Top officials from Argentina have headed to Washington for talks with the International Monetary Fund (IMF) over the latest quarterly review of the country's US$44.5-billion debt deal. Approval of the fourth quarterly review is of high importance for President Alberto Fernández’s government, which needs to boost Central Bank reserves at a time of low foreign currency inflows and a punishing drought that has dramatically slashed projections for the agricultural harvest. If the IMF board signs off on the deal, Argentina will receive a new disbursement of US$5.4 billion in fresh funds that will boost the state’s coffers. The talks will also address the impact of the ongoing conflict between Russia and Ukraine on energy prices and logistics costs worldwide.
Heat and drought are taking a toll on large parts of South America. Since 2019, Argentina and neighboring countries have been grappling with drought conditions, receiving less than half of the average precipitation in the last four months of 2022 - the lowest rainfall in 35 years. This, along with high temperatures, has resulted in widespread crop failures. Agricultural exports for 2023 are projected to drop by 28% compared to 2022 levels, with Uruguay declaring an agricultural emergency. While human-induced climate change wasn't the main driver of the reduced rainfall, it increased temperatures in the region, reducing water availability and worsening the drought's impact. Heatwaves, which have increased in frequency, intensity, and duration due to climate change, are also a major issue. Central Chile's Mega Drought, the longest in the region in at least a thousand years, has exacerbated the water crisis. The low rainfall is partly due to the third consecutive year of La Niña, a naturally occurring phenomenon. WMO will release its next El Niño/La Niña and Global Seasonal Climate Update by the end of February.
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These are some of the Trending news in Argentina on Tuesday February 21st, 2023.
Argentina's Economy Minister Sergio Massa has confirmed he won't be running for president while still in his current post, according to a recent interview with CNN en Español. This comes after Massa was previously seen as a possible candidate for the upcoming presidential election in October. Despite missing his target of reducing inflation to less than 4% in April, Massa says he remains committed to reducing inflation to 60% this year. However, Argentine traders and economists are sceptical. In addition, the country's growing peso debt and inability to borrow abroad presents a major challenge for Massa and his team. The government is currently in talks with local banks for a voluntary refinancing to extend maturities to 2025.
Carlos Alcaraz, the 19-year-old Spanish tennis star, has won the final of the Argentina Open against Cameron Norrie. Alcaraz captured his seventh career title, and his first since winning the US Open in September, and becoming the youngest-ever world number one. This is his first tournament since a leg muscle tear in November last year. The win was made sweeter as he had to come back from a 2-3 deficit, winning the final 6-3, 7-5. Alcaraz has won five of his seven titles on clay courts, and next week he heads to Rio to defend his trophy from last year. This is a great comeback for the teenager who had to miss the Australian Open due to injury.
Chinese automaker Chery Inc. plans to build a $400 million electric vehicle and battery plant in Argentina, marking the country's ambitions to tap into its vast lithium deposits. The announcement comes as the global shift towards clean energy fuels a race for Andean lithium supplies. Argentina and neighbouring Chile are in talks with Brazil to create a joint industry based on this metal for batteries. The country hopes that lithium, a raw material found in abundance in Argentina, will not become a curse, but rather an opportunity for investment and employment.
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