IMF’s number two says Milei’s economic plan shows ‘progress,’ warns of social costs
“It must be done in a pragmatic way in order to secure social and political support, which are crucial in guaranteeing the durability and efficacy of [economic] reforms.”The IMF official met with numerous sectors during her visit to Buenos Aires. International Relations Secretary of the General Confederation of Labor (CGT, for its Spanish initials) Gerardo Martínez was one of those who met with Gopinath. After their meeting, he said that the central union’s goal was to inform the IMF official of their “concern” over the impact the government’s economic measures are having on labor. There are no measures to address income, which has an impact on economic activity,” he said to news agency Télam. Social benefits and retirement pensions saw the deepest cuts, falling by 29% and 38% respectively.
Source:Bueno Aires Herald
February 23, 2024 16:31 UTC
Chile risks repeat of deadly wildfires because of climate change
Deadly wildfires like those that burned through central Chile and killed at least 133 people this month will become more likely in the South American country as climate change makes the world hotter and drier, according to a report released on Thursday. The report found that neither global warming nor the El Nino climate phenomenon drove that recent increase in the HDWI during the fires, as that coastal region of Chile is actually cooling while temperatures are warming inland. But that will change with global warming, the scientists said. Temperatures are on track to rise up to 2.9 degrees Celsius (5.2 degrees Fahrenheit) this century, based on current climate pledges, according to the United Nations. The report’s authors also found that urban growth and land use change were big factors that led to the fires being so deadly.
Source:Bueno Aires Herald
February 23, 2024 03:46 UTC
Government to shut down institute that fights discrimination and racism
Presidential Spokesman Manuel Adorn confirmed the government’s plan to shut down the National Institute against Discrimination, Xenophobia and Racism (INADI, by its Spanish acronym) in his daily press conference on Thursday morning, to immediate and widespread backlash. It can’t be abolished via decree!”INADI was created in 1995 as part of the Justice Ministry to create and enforce state policies to fight discrimination, xenophobia, and racism. Every day, INADI receives dozens of reports regarding cases of discrimination towards disabled people, sexual or gender discrimination, racism, xenophobia, or any other kind of discrimination. The institute provides free legal counseling and support, acting as an intermediary between the victim and the aggressor to reach an agreement if possible. The institute also promotes taking cases to court when an agreement isn’t reached.
Source:Bueno Aires Herald
February 23, 2024 03:10 UTC
Lawmakers to hold first meeting of new bicameral commission
Lawmakers will hold the first meeting of a congressional commission on Thursday that could discuss President Javier Milei’s controversial mega-decree, following a lengthy dispute over its composition under the new government. The Permanent Bicameral Legislative Procedure Commission is a parliamentary body composed of members of both chambers. The newly-appointed members will meet for the first time on Thursday to formally launch the commission and appoint its leaders. Unlike the rest of the commissions in Congress, the Legislative Procedure Commission is supposed to be available permanently, including during summer recess. “The [Legislative Procedure Commission] could now meet and reach a verdict,” deputy and new commission member Ana Carolina Gaillard told the Herald.
Source:Bueno Aires Herald
February 22, 2024 13:29 UTC
IMF’s number two met with Caputo, calls meeting ‘productive’
The meeting took place between 10:00 a.m. and 2:00 p.m., according to Télam news agency. Télam also reported that government officials told the Fund members that Argentina gained a fiscal surplus due to Milei’s economic measures. Social benefits and retirement pensions saw the deepest cuts, falling by 29% and 38% respectively. Caputo said in an interview on Monday that pensions would increase by approximately 30% in March, but a government source could not confirm whether the administration would pay a bonus. On January 31, the IMF’s board approved the staff-level agreement it had reached with Argentina and disbursed US$4.7 billion.
Source:Bueno Aires Herald
February 22, 2024 05:19 UTC
One-day train strike in Argentina as rail staff demand pay talks
The La Fraternidad railway workers’ union has been carrying out a 24-hour train strike since midnight that affects the entire railway service, except for long-distance transfers to Rosario, Mar del Plata, Tucumán, and Córdoba. The Argentine Association of Motor Transport Entrepreneurs (AAETA) said Wednesday morning that bus services near railway services were being boosted. “All precautions are being taken within our reach given this contingency on suburban railway services,” AAETA posted on X. The union representing the train drivers blamed the government for the strike saying it had failed to facilitate conciliation talks. In a statement, Transport criticized the strike called by La Fraternidad, in contrast to other railway unions.
Source:Bueno Aires Herald
February 21, 2024 13:28 UTC
IMF’s Gita Gopinath will visit Argentina
First Deputy Managing Director @GitaGopinath will travel to Argentina this week to meet with government officials & others to hear about Argentina’s difficult economic and social challenges as well as its vast potential. — Julie Kozack (@IMFSpokesperson) February 20, 2024An IMF spokesperson confirmed to the Herald that Gopinath will meet with Milei’s economic team, academics, civil society organizations, and the private sector. She is set to arrive on Wednesday, her visit coinciding with that of United States Secretary of State Antony J. Blinken. A new payment schedule was also reached, with other disbursements expected in May (US$800 million), August (US$532 million), and November (US$550 million). Milei said that the meeting went “spectacularly well.”You may also be interested in: IMF praises Argentina’s austerity, warns path to stability ‘challenging’
Source:Bueno Aires Herald
February 21, 2024 11:37 UTC
Messi reaches out to Chinese fans after friendly absence outrage
Argentine football superstar Lionel Messi released a video explaining why he missed the friendly Inter Miami played in Hong Kong on February 4. The Qatar 2022 winner’s absence caused outrage among Chinese fans, who booed him and demanded reimbursement for their tickets. I’ve heard I didn’t want to play due to political reasons and other things that have no relation to it. Messi has struggled with injuries since September 2023, when he felt some discomfort during a South American Qualifiers game playing for Argentina. “I’d already said all this but I think it bears repeating now after everything that’s being said,” Messi said.
Source:Bueno Aires Herald
February 20, 2024 14:13 UTC
Government requests ruling declaring labor reform unconstitutional be overturned
The government filed a request asking the Supreme Court to overturn a ruling by a lower court that declared the labor reform included in President Javier Milei’s mega-decree issued in December unconstitutional. In the first days of January, a labor court issued a temporary suspension of the labor reform. On January 30, the Federal Labor Chamber issued a new ruling declaring the labor chapter of the decree unconstitutional. The Federal Labor Chamber’s main reason for declaring the reform unconstitutional was due to the fact that the government used the wrong legislation. That ruling handed down by the Federal Labor Court is the first to issue a comment regarding the fundamentals of the mega-decree’s labor reforms.
Source:Bueno Aires Herald
February 20, 2024 14:12 UTC
Teachers consider strike to demand salary negotiations
But this year, classrooms could remain empty as teaching unions mull provincial and national strikes to demand wage negotiations. Presidential Spokesperson Manuel Adorni said last week that the government was considering opening wage negotiations soon, but a decision had yet to be made. In Argentina, national negotiations set the minimum wage for teachers countrywide. “They never told us these funds would not be paid, nor that they wouldn’t be opening wage negotiations,” she said. Governors including Axel Kicillof in Buenos Aires province and Gustavo Valdés in Corrientes decided in January to pay teachers the remaining money from provincial resources.
Source:Bueno Aires Herald
February 20, 2024 02:44 UTC
Argentina Open 2024: Díaz Acosta wins title, fulfilling lifelong dream
Argentine tennis star Facundo Díaz Acosta (87th ATP singles ranked) was crowned 2024 Argentina Open champion on Sunday after beating Chilean Nicolás Jarry (21) by 6-3, 6-4 in one hour and 44 minutes of play. Despite trying for chances to earn another break of serve, the Argentine was forced to wrap it with his own, closing 6-3. It was more of the same in the second set, where Díaz Acosta kept on the offensive, refusing to back down from the baseline and forcing Jarry to either out-shoot him or miss. Díaz Acosta looked set for a straightforward finish, sitting at 40-0 with his serve — but Jarry fought back, defending five match points and having the chance to break the Argentine’s serve. Díaz Acosta couldn’t hide his surprise at winning the title.
Source:Bueno Aires Herald
February 19, 2024 12:53 UTC
Poverty in Argentina hits 57%, highest number in 20 years, report says
Argentina’s poverty rate reached 57.4% in January according to a new report by the Argentine Catholic University’s respected Social Debt Observatory. It’s the highest poverty number since 2004, when the observatory began publishing reports, amid widespread economic deregulation and price hikes. “Our perspective is that this will keep getting worse in February,” the observatory’s Director Agustín Salvia told the Herald. A family is considered to be in poverty if they earn less than the basic food basket plus services, known as the total basic basket. The minimum wage, which defines who receives certain social benefits, currently sits at AR$156,000 a month while the total basic basket for a single adult reached AR$193,000 in January, according to INDEC’s latest report.
Source:Bueno Aires Herald
February 19, 2024 10:53 UTC
iAnthus Announces Restatement of Third Quarter 2023 Financial Results
(collectively, the “Third Quarter 2023 Interim Financial Statements“). This error has no impact on the cash balance as of September 30, 2023, and results in no net change in cash flows for the nine months ended September 30, 2023. As a result, the Third Quarter 2023 Interim Financial Statements and accompanying earnings release should no longer be relied upon. The Restated Third Quarter 2023 Interim Financial Statements will also be publicly available on the Company’s SEDAR+ profile. Forward-looking statements may include, without limitation, statements relating to the Company’s financial performance, filing of financial statements, business development and results of operations.
Source:The Bubble
February 17, 2024 10:14 UTC
Milei to axe nine state fiduciary funds worth US$2 billion
The Argentine government will eliminate nine state fiduciary funds, President Javier Milei and his spokesman confirmed on Friday. The government has not confirmed which of the state’s fiduciary funds could be axed. “Nobody knows how that money is used.”There are 28 fiduciary funds under national jurisdiction. Another, created in 2013, funds assistance for those affected by forest fires. The Economy Ministry and the President’s Office told the Herald they had no information on what funds would be cut.
Source:Bueno Aires Herald
February 17, 2024 03:34 UTC
Paraguayan Senate expels opposition voice who called out corruption
Paraguay’s senate on Wednesday expelled one of the few opposition voices in national politics, sparking protests in the capital Asunción, and concerns over the fragile state of the country’s democracy. Senator Kattya Gonzalez from the center-left National Meeting Party was dismissed from her position during an extraordinary session on Wednesday for the “misuse of influence” while in office. Senators who voted in favor of her dismissal accused Gonzalez of administrative misconduct related to three state officials she supervised. Paraguay’s right-wing Colorado Party has a majority in both chambers of congress, holds the presidency and oversees 15 of the 17 state governments following elections in April last year. She will be replaced by her deputy, a lesser-known member of the opposition.
Source:Bueno Aires Herald
February 16, 2024 13:53 UTC