AFA boss on coach Scaloni’s future: ‘We are going to sign a contract’
The Argentine Football Association’s president appeared to confirm today that Lionel Scaloni has committed to continue as head coach of the Argentine team. In an interview with radio La Red, Claudio “Chiqui” Tapia said he and Scaloni are “committed to keep on going together”, and that they will sign a contract once the coach comes to Argentina. “That’s going very well,” Tapia said about Lionel ‘Gringo’ Scaloni’s continuity when asked the question “the whole country is asking”. While Scaloni’s contract is not yet signed, Tapia was confident the head coach will remain in post leading the Argentine team. When asked to what degree was Scaloni’s continuity a sure thing, from 1 to 10, he laughed and said: “we always carry the number 10 on us”.
Source:Bueno Aires Herald
January 19, 2023 06:40 UTC
Import system adjustment aims to accelerate companies’ use of their own dollars
The government is monitoring imports through meetings of the SIRA system committee and conversations with business chambers. The economic team’s next step is “speeding up” the companies’ ability to use “their own dollars” and monitoring commercial debt, which is currently over US$7 billion. In the Economy Ministry, led by Sergio Massa, sources recognize that there may be problems, since the new SIRA system is less than three months old, and there is also a shortage of dollars in the Central Bank. The SIRA system allows them to see a daily calendar with the amounts to be paid according to the imports approved. This could have an “impact on production”: according to the UIA, seven out of ten companies stated that difficulties in supply of inputs could lead to stoppages in some production lines.
Source:Bueno Aires Herald
January 17, 2023 20:28 UTC
Controversy around Trucker’s Union participation in Fair Price auditing
An agreement between the Economy Ministry and transport union Camioneros sparked controversy after the Union took part in the auditing of Fair Prices, the government’s commercial agreement underpinning current price caps. Last November, the “Precios Justos” (Fair Prices) program froze the value of 1,907 products and set a maximum monthly price rise of 4% for 30,000 other items until February 28, 2023. Fuels were later added to the program and are subject to the 4% price increase limit. To ensure the agreements are complied with, Interior Commerce Secretary Matías Tombolini announced that he had reached a deal with the truckers’ union, Camioneros, to help verify that products under the program were stocked in supermarkets. Lately, the organization has also built ties with unions close to Kirchnerism, such as bank workers, with whom they converge in the Worker’s Corriente Federal within the Central Workers’ Union (CGT).
Source:Bueno Aires Herald
January 17, 2023 08:34 UTC
Gasoline prices hiked by 4% in line with Fair Prices deal
Major fuel retailers increased gasoline prices by 4% on Sunday and Monday. The increases were part of last November’s Fair Prices agreement between the government and oil companies, which allows companies to increase their prices by up to 4% between November and March. According to surtidores.com, a liter of premium gasoline is at AR$197.40, while diesel is at AR$168.5 a liter. A liter of unleaded gasoline costs AR$156.80. Compared with January 2022, the rises are around 95%, in line with the yearly inflation rate.
Source:Bueno Aires Herald
January 17, 2023 05:37 UTC
Central bank to maintain interest rates after December inflation figures showed no surprises
The board of the Central Bank will not adjust interest rates following statistics institute INDEC’s announcement yesterday that inflation was 5.1% for December, just 0.2% over the previous month figure. Since September 15, the Central Bank has kept the annual nominal interest rate at 75% and a 107.5% yearly effective rate. The effective monthly rate is 6.16%. In the government’s view, this would also deter flight to the US dollar and relieve pressure on the exchange rate. The monetary authority will keep using the interest rate to that end.
Source:Bueno Aires Herald
January 14, 2023 00:26 UTC
Wage rounds: government confirms a +60% raise, doubts among trade unions
Labor Minister Raquel “Kelly” Olmos confirmed this after a series of conversations between government officials and top leaders of the CGT (General Workers’ Union). The first allies for this plan are the “heavyweights” of the CGT’s biggest service industry unions and their “independent” colleagues who maintain constructive dialogue with all governments. Both sectors, which include Héctor Daer (Healthcare) and Andrés Rodriguez (state workers in the UPCN union) among others, are the main union support for Massa and his potential presidential goal. Along the same line as Moyano, last night Gerardo Matínez, head of the Construction Workers’ Union (UOCRA), also raised concerns. CGT leaders, in any case, recognize that there is a consensus around, at a minimum, showing support for Massa’s plan.
Source:Bueno Aires Herald
January 13, 2023 23:02 UTC
US consumer prices fell for the first time in more than two and a half years
WASHINGTON (Reuters) – US consumer prices fell for the first time in more than two and a half years in December amid declining prices for gasoline and motor vehicles, offering hope that inflation was now on a sustained downward trend, though the labor market remains tight. Cooling inflation could allow the Federal Reserve to further scale back the pace of its interest rate increases next month. Food prices climbed 0.3%, the smallest gain in nearly two years, after rising 0.5% in the prior month. Fruit and vegetable prices fell as did those for dairy products, but meat, poultry and fish cost more. Core goods prices slipped 0.3%, declining for a third straight month.
Source:Bueno Aires Herald
January 13, 2023 06:41 UTC
Economy challenge 2023: farm exports may be reduced by up to US$14.1 billion due to the drought
The latest projections from the Buenos Aires Stock Exchange anticipate that exports from the main grain complexes could fall by between US$9.2 billion and US$14.1 billion. In terms of tax collection, the State would lose out on between US$3.1 billion and US$4.7 billion. That is why the moderate scenario suggests that income from exports would fall by US$9.2 billion at a minimum and US$14.1 billion at most. The second one is a pessimistic scenario (a more pronounced drought), with 35.5 million, 37.8 million and 3.5 million tons. Regarding the baseline scenario, their contribution would drop between US$3.3 billion and US$6.3 billion, depending on the final scenario.
Source:Bueno Aires Herald
January 13, 2023 06:27 UTC
Businessmen worry for Brazil: trade on alert
Businesses are still monitoring day-to-day politics in Brazil with “strong concern” after the attempted coup in the neighboring country –Argentina’s main trading partner. The main business unions in the country quickly spoke out condemning the attack on the institutions. In the last few hours, the main business chambers have spoken out. Companies have been closely following the events in Brazil since Sunday. Other StatementsThe Business Convergence Forum also issued a statement rejecting the attempt to alter the institutional order in Brazil.
Source:Bueno Aires Herald
January 10, 2023 23:43 UTC
Government to send bill to protect independence of official statistics
The Economy Ministry is drafting a bill to guarantee the functional and economic independence of the official statistics institute, the INDEC. According to official sources, the project aims to transform the agency into a “decentralized and autarchic entity with functional autonomy”. Currently, the Executive Director of the National Institute of Statistics and Census (INDEC) is appointed by the president. The institute’s Technical Director would be appointed by the Executive Director, after background screening and competitive examination. To give one example, according to the INDEC, inflation in 2014 was 23.9%.
Source:Bueno Aires Herald
January 10, 2023 19:10 UTC
Argentina activates US$5 billion currency swap with China
The heads of the Argentine and Chinese central banks confirmed the activation of the currency swap the two countries signed last November. The president of Argentina’s central bank, Miguel Pesce, met with the governor of the People’s Bank of China, Yi Gang, in the Swiss city of Basel. As a result of the meeting, the official communiqué adds, both countries committed to deepening the usage of the yuan in the Argentine market for bilateral commerce. “The swap comprises the exchange of currency for reinforcement of international reserves of 130 billion yuan and a special activation of 35 billion yuan to compensate operations on the foreign exchange market,” added the statement. The agreement aims to increase the nation’s depleted foreign currency reserves.
Source:Bueno Aires Herald
January 10, 2023 06:27 UTC
Brazil in shock after Bolsonaro supporters storm Congress, Supreme Court and Presidential Palace
Brazilian police deployed at a camp of supporters of far-right former President Jair Bolsonaro in the capital on Monday. Supreme Court Justice Alexandre de Moraes ordered the governor of Brasilia removed from office late on Sunday for 90 days over alleged security failings. Far from the capital, Brazilian industries were on alert for a fresh round of unrest from Bolsonaro supporters, whose post-election highway blockades have disrupted grains shipments and meatpacking operations in recent months. Torres told website UOL he was with his family on holiday in the US and had not met with Bolsonaro. On Saturday, with rumors of a confrontation brewing in Brasilia, Justice Minister Flávio Dino authorized the deployment of the National Public Security Force.
Source:Bueno Aires Herald
January 10, 2023 02:04 UTC
Báez Sosa murder trial: family and police take witness stand in first week
On January 2, after a three-year wait, eight members of a rugby team went on trial for a case that has gripped the nation: the murder Fernando Báez Sosa. Several testimonies from that night confirm that the accused called Báez Sosa racist names while they kicked him on the floor. “They wouldn’t stop hitting him,” said 21-year-old Virginia Pérez Antonelli, who aided Báez Sosa by practicing CPR after the attack. As the conflict escalated, Fernando’s friends tried to explain that there were too many people inside the club. But what is known for sure is that at 4:44a.m, Báez Sosa had been kicked and beaten to death in the street.
Source:Bueno Aires Herald
January 06, 2023 21:50 UTC
Wage rounds: government wants to negotiate hike of barely over 60% with CGT
Designed by minister Sergio Massa, the government aims to sound out the plan with union and business leaders as part of a larger price reduction program. Sources in the more traditional sectors of the CGT said they trust the Economy Minister’s chances of easing the rise in prices and are willing to sign their wage rounds accordingly. So far, the 2023 legal precedents regarding wage rounds are almost null. Meanwhile, La Bancaria (bank workers union) led by Sergio Palazzo will attempt a short negotiation limited to the first quarter of the year, as a bridge to then resume negotiations with the financial sector for the rest of 2023. Thus, the union led by Hugo and Pablo Moyano will not have a leading role in the first part of the year’s wage rounds unless there is a pronounced increase in the rate of inflation.
Source:Bueno Aires Herald
January 06, 2023 21:08 UTC
Executive revives Council of Magistrates bill for Congress’ special sessions (and starts considering decree)
President Alberto Fernández must formalize the call with the list of limited projects for the special sessions. Although the official project calling for 17 council members –three down from the current number– was approved by the Senate, it got bogged down in the lower House and never resurfaced. That is why, within the Casa Rosada, people are beginning to evaluate what could happen if the deadline for the special sessions passes and the bill has not been discussed. It would feature the same number of slots per area as the current format for both judges and attorneys (four and four); two academics; and one representative of the Executive. This time last year, the projects scheduled for special sessions never reached the floor for discussion in Congress.
Source:Bueno Aires Herald
January 06, 2023 07:44 UTC