“Most of the entities authorized to operate in foreign exchange already use SIOPEL for their operations,” the Central Bank wrote in a communiqué. “Now, exceptions for some exchange houses and agencies have been eliminated.”After last week’s 22% devaluation, the official dollar exchange rate was fixed at AR$350. Differences between the exchange rates (and even inside different iterations of the same exchange rate) allow for different kinds of arbitrage. This month, the government increased restrictions on U.S. dollar bonds and raided informal exchange houses known as cuevas (caves). On Thursday, Customs and Airport Security Police raided 26 businesses in Buenos Aires City, Buenos Aires Province, and Misiones, including exchange houses.

The International Monetary Fund (IMF) published a press release following the approval of its most recent review of Argentina’s agreement that unlocked a US$7.5 billion disbursement, saying that key program targets were missed due to the historic drought and calling to update energy tariffs and contain public wages and pensions. The statement comes on the heels of an announcement made last Wednesday by Energy Secretary Flavia Royón, who said that the government will raise energy tariffs for high-income homes due to an update in operational costs following the devaluation that took place after the PASO elections. Royón had already said last week that the raise was coming. “The recent realignment of the exchange rate, coupled with the tightening of monetary policy, should continue to help support reserve accumulation while limiting the exchange rate pass through to inflation. Going forward, the rate of crawl will be carefully calibrated to help achieve reserve accumulation and disinflation goals.”

“The worst we can do with Borges is to leave him as an inert, fixed matter, like an act of faith,” said organizer Daniel Mecca. According to Mecca, the festival aims to build on an existing base: “Borges is already a ‘pop beast,’” he said, referencing the popular Argentine rock song La bestia pop. “The solemnity around his figure can repel readers, mostly younger ones. But if there is one writer who can blow up your imagination, that’s Borges. According to Mecca, “In the end, in Borges’ work, the future has come a long time ago”.

The Chamber of Deputies approved a judicial resolution enabling police to seize Juntos por el Cambio (JxC) lawmaker Gerardo Milman’s cell phone on Wednesday afternoon. The move comes as part of the investigation into the assassination attempt against Vice President Cristina Fernández de Kirchner last year. Milman is alleged to have said: “When they kill her I’ll be on my way to the coast” two days before it happened. Earlier, Capuchetti’s request for Milman’s cellphone had been unanimously supported by the Constitutional Affairs Committee, which includes members of both opposition and ruling parties. Rodolfo Tailhade, from the Frente de Todos ruling party, supported the authorization although he regretted the delay.

The executive board of the International Monetary Fund (IMF) unanimously approved a disbursement of US$7.5 billion to Argentina, albeit with comments from China and Japan. Minutes later, Economy Minister Sergio Massa met with IMF Managing Director Kristalina Georgieva at the organism’s Washington, D.C. headquarters. The release of the disbursement approved today was the culmination of a process of tense negotiations that continued for longer than expected. This Wednesday, as soon as it received the IMF disbursement, Argentina issued payment orders to return the loans to the CAF and Qatar, as well as putting money back into its currency swap with China. Thus, the government will constantly monitor the gap between the official dollar and the financial dollar rates, although it will also closely follow the MEP and blue chip swap exchange rates.

The executive board of the International Monetary Fund approved on Wednesday the fifth and sixth reviews of its US$44 billion program with Argentina, allowing for the disbursement of $7.5 billion, according to the Argentine government. “The IMF board approved the disbursement of $7.5 billion,” the Economy Ministry said in a statement. On Tuesday afternoon, Massa announced that the World Bank and IDB will loan Argentina US$ 1.31 billion. IMF staff and Argentina had reached an agreement late in July for the fifth and sixth reviews of the program, with the disbursement left pending board approval. You may also be interested in: World Bank and IDB to loan Argentina US$1.3 billion—with information from Reuters

Lionel Messi won the 2023 Leagues Cup with Inter Miami on Saturday, a hard-fought game against Nashville SC that gave the Herons its first ever piece of silverware barely over a month after the Argentine’s arrival. One issue that garnered attention and has led to some debate is whether this title has made Messi the single most decorated player in football history. Messi can take pride in owning one of the most impressive title counts in the world. The former FC Barcelona and PSG player boasts ten Spanish league titles, four Champions League wins, an Olympic gold medal and the World Cup title among many others. Regardless, Messi sits as the record holder, although for now he shares it with Dani Alves.

Over 40 people were arrested over the long weekend for looting supermarkets and convenience stores in Buenos Aires City and different cities in Mendoza, Córdoba and Neuquén provinces. In Río Cuarto, Córdoba province, at least 15 people were arrested for attempting to loot a supermarket on Sunday night. The group showed up at the store’s front after having organized the looting over social media, police sources told Télam news agency. Seven of them were charged with aggravated robbery and four were let go after testifying, judiciary sources told Télam. The Herald confirmed with TodoRoca that it was in a Neuquén city supermarket, on Río Senguer Street.

The national government plans to keep the official dollar exchange rate at AR$350 until November 15, sources in the administration have told the Herald. Between November 15 and 30, the government could adjust the exchange rate by a slightly lower percentage than the rate of inflation from the previous month (October). The current exchange rate of AR$350 was implemented by the government the morning after the August 13 primary elections. The official exchange rate, established by the government, rises every month by a lower percentage than the rate of inflation. Currently, the official exchange rate is AR$350 and applies to imports and exports of goods and services.

Analysts warn that the devaluation, added to the uncertainty and high inflation, could have an impact on the economy during the second half of the year. “Key sectors like industry and construction registered a 1.3% and 1.5% monthly seasonally adjusted drop. “Following the devaluation after the 2019 PASO, economic activity between July and the end of that year fell by almost 4% in seasonally adjusted terms. )”“Prospects for economic activity have deteriorated following the depreciation of the exchange rate and the start of massive adjustments regarding prices of goods and services. The contraction effects of these events will translate into more recession and, potentially, a new monthly inflation low.

Economy Minister Sergio Massa will fly to Washington D.C. on Monday, to be present in the U.S. capital as the International Monetary Fund (IMF) board meets to approve the most recent review of Argentina’s plan with the international lender, triggering a US$7.5 billion disbursement. The IMF board is expected to green-light the staff-level agreement reached on July 28 on the combined fifth and sixth reviews under Argentina’s 30-month Extended Fund Facility arrangement. Massa and IMF Managing Director Kristalina Georgieva are scheduled to meet on Wednesday, after the board meeting. On Wednesday morning, Massa will meet Brian Nichols, assistant secretary for Western Hemisphere Affairs for the Department of State. You may also be interested in: Sergio Massa: the ‘unity’ candidate facing a perfect storm

González, a protege of former President Rafael Correa who has promised to revive his social programs, won 33% support, while Noboa, son of prominent banana businessman and former presidential candidate Alvaro Noboa, was a surprise second-place with 24% of the vote. The contest was darkened by the assassination of anti-corruption candidate Fernando Villavicencio earlier this month. The crime is still under investigation, but Villavicencio, who was replaced as a candidate by his friend and fellow investigative journalist Christian Zurita, came third with 16%. Villavicencio’s name appeared on the ballot papers because they were printed before his murder. Noboa seemingly gained support after performing well in the only televised debate of the campaign.

Last Sunday we had the Argentine primary elections (PASO for their Spanish acronym) with a plethora of electoral phrases and terminology coming up even before the vote took place. In reading Argentine news stories, our intern Molly read the term carancheo electoral — evoking politicians swooping down like vultures to make the most of a situation to garner more votes. In searching for the origins of the term, búnker político is apparently a Spanish term for an extreme right-wing group resistant to political change toward the end of Spanish dictator Francisco Franco’s regime. We ended up going with “campaign headquarters,” which is a simple enough translation, but modern examples of búnker with that meaning seem to be exclusive to Argentine electoral coverage. Maybe now that electronic voting has been scrapped for October, we’ll recover that treasured moment of standing in a dark room alone with our decisions.

The measure comes in addition to a price freeze agreed upon with supermarket chains, first announced on Tuesday but actually reached on Friday, and a freeze on medication prices announced on Friday. Additionally, the new Price Negotiation Unit launched on Tuesday agreed on a 90-day monthly 5% maximum price increase in consumer goods with 31 supermarket chains. Companies that agree to the 5% monthly price cap will receive tax benefits to prevent cost increases from being passed on to prices. In a press conference on Tuesday, Trade Secretary Matías Tombolini said that the situation would be sorted out in the meetings that concluded on Friday. “It’s a shared effort,” he said in a press conference.

Buenos Aires city authorities announced that they would not use the electronic voting machines to elect local authorities in the October 22 general elections, a decision that comes following a severe admonishment by federal judge María Servini for the significant delays during last Sunday’s primaries. While some machines didn’t work, other voting centers had them but were unable to get them running or test them. Interviewed by media outlets, BA city residents reported waiting between one and two hours in some voting centers. “The delays [on Sunday] were due in some cases to the fact that there were two voting systems that day, in others, because voting authorities were delayed in opening their stations”According to the IGE, 251 voting machines had technical problems on Sunday. In her note on Thursday, Servini included details of problems with 250 electronic voting machines.