‘Caves’ and the ‘blue dollar’ informal market. This is how they work
Last Wednesday, in the midst of financial turbulence and extreme tension in the currency exchange market, the government raided several “caves” in Buenos Aires City that operate with “blue dollars”. This is the blue or parallel market dollar, which in other parts of the world is better known as the “black market dollar”. These are the people standing on the streets chanting “cambio, cambio” (‘exchange, exchange’). The crime of buying and selling blue dollarsBuying or selling illegal blue dollars is a crime under the Currency Exchange Law, which punishes those who engage in that trade. But most of them do prosecute caves that sell fortunes in blue dollars.
Source:Bueno Aires Herald
October 13, 2023 16:42 UTC
Israel-Hamas war: Lula calls for the protection of ‘Palestinian and Israeli children’
Brazilian President Luiz Inacio Lula da Silva on Wednesday called on the United Nations and the international community to protect “Palestinian and Israeli children” in the midst of the Israel-Hamas War. He also called for a ceasefire and an “international humanitarian intervention” so that human rights violations can be put to an end. Lula said that militant Islamist group Hamas should release Israeli children “kidnapped from their families”, while calling on Israel to stop bombings to allow Palestinian children and their mothers to leave the Gaza Strip and cross the border with Egypt. “An international humanitarian intervention is urgently needed,” Lula wrote on social media platform X, formerly known as Twitter. It will continue to work for the promotion of peace and in defense of human rights in the world”, said Lula.
Source:Bueno Aires Herald
October 12, 2023 16:33 UTC
Lower House passes Rental Law changes, makes reform official
The Chamber of Deputies approved the changes the Senate had made to a Rental Law reform bill the Lower House had passed in August, making said reform official law. The minimum duration of a lease, which the bill initially approved by the Lower House had shortened to two years, will remain at three years after the Senate rejected that provision last September. The Ley de alquileres or Rental Law currently in place was originally passed in July 2020 and put a three-year minimum on rental contracts — adding a year to the two-year period then in place. The introduction of these changes meant that it had to go back to the Chamber of Deputies for final approval. The Senate-made changes were approved by the Lower House on Wednesday with 128 votes in favor and 114 against.
Source:Bueno Aires Herald
October 11, 2023 21:24 UTC
Government unifies three dollar exchange rates
In the midst of financial turbulence and the skyrocketing of the blue dollar, the AFIP ordered that the debit and credit card dollar and the Qatar dollar be unfied. All three will be more expensive at a current exchange rate of AR$731 per US dollar. Two exchange rates were in place until Monday: one for purchases under US$300 per month (solidarity exchange rate), and another for payments over that amount (the exchange rate known as Qatar dollar). Qatar, solidary and credit and debit card dollar: the unified exchange rateOfficial dollar exchange rate: AR$365.5030% PAIS tax: AR$109,6545% surcharge: $164,4825% surcharge: $91.38Total: AR$731.01It is worth mentioning that this is still much lower than the blue-chip exchange rate of AR$840 per US dollar, as well as the blue dollar, at approximately AR$1000. The final exchange rate is the following: official dollar, AR$365.50 per US dollar, plus the added charges of 45%, 30% and 25%.
Source:Bueno Aires Herald
October 11, 2023 15:40 UTC
With seven confirmed dead, government kicks off evacuation of Argentines in Israel
The number of Argentines confirmed dead has risen to seven, and 15 others were confirmed missing by Monday afternoon. Foreign Minister Santiago Cafiero said Tuesday morning that 713 Argentines in Israel have asked to be evacuated so far. Hamas launched the biggest attack on Israel in years on Saturday, firing rockets from Gaza and sending gunmen into Israel on foot. Israeli authorities have confirmed that 1,000 people have been killed, while the health ministry in Gaza has confirmed 750 deaths on the Palestinian side by Tuesday morning. Assistance for Argentines in IsraelTo board the emergency evacuation flights, Argentines in Israel have to enter a register that the Argentine consulate in Tel Aviv is compiling.
Source:Bueno Aires Herald
October 10, 2023 14:35 UTC
Indigenous minister calls on Lula to kill farm lobby's land bill
Brazil’s first Indigenous cabinet minister is urging President Luiz Inacio Lula da Silva to veto a bill pushed through Congress by the farm lobby that she and Indigenous leaders warn would undermine ancestral land rights and threaten their way of life. Indigenous Affairs Minister Sonia Guajajara told Reuters she is pushing the president not to sign the bill. The largest umbrella organization of Brazil’s Indigenous People (APIB) is campaigning on social media urging Lula to veto the whole bill. “The Supreme Court and the Senate are playing their part. “It also would allow for the expropriation of reservation land if their inhabitants lost their physical and cultural Indigenous traits, which is racist,” Guajajara told Reuters.
Source:Bueno Aires Herald
October 09, 2023 23:42 UTC
Second presidential debate: candidates spar over insecurity and production
Argentina’s five main presidential candidates took to the stage for the second and final presidential debate ahead of the October 22 general elections. Presidential candidates sparred over security, corruption, economic inclusion, workers’ rights, and environmental protections. The debate’s three topic sections were security, work and production, and human development, housing, and the environment. In their starting speeches, nearly all candidates, save Bregman, condemned Hamas’ attack against Israel over the weekend. Describing an “Argentine FBI,” Massa pledged to create a national law enforcement agency to combat corruption, drug trafficking, and human trafficking.
Source:Bueno Aires Herald
October 09, 2023 14:44 UTC
Translation troubles: overscrewed
As we enter the homestretch of the October 22 election, it’s unsurprising that two-thirds of this week’s translation troubles came from political candidates. For now, here are three from the past week: overscrewed, downed lines and joker cards. Pasarse de roscaPresidential candidate Patricia Bullrich said that rival Javier Milei’s denialism was “pasarse de rosca.” This has a fairly simple English translation — to go overboard, going too far. As a kid, I would usually hear “you’re overscrewed” when it was past our bedtime and we had way too much energy for the exasperated adult in question. Share your thoughts and translation hang-ups with us on Facebook, Twitter or Instagram!
Source:Bueno Aires Herald
October 09, 2023 07:55 UTC
Rugby World Cup: Argentina beats Japan, reaches quarter-finals
Argentina is through to the Rugby World Cup quarter-finals after the national men’s team Los Pumas beat Japan 39-27 on Sunday morning at Stade de la Beaujoire in Nantes, France. Following the hard-earned victory against the Brave Blossoms, Argentina has managed to slip into the second position of the D group, right behind England. It’s the fourth time that the Pumas have reached the group of the best eight teams in a rugby world cup. Argentina will play against Wales for a spot in the semi-finals on Saturday at 12 p.m. in Marseilles. “Now, we have to enjoy this victory and tomorrow start thinking about Wales to get into the semifinals,” said Carreras.
Source:Bueno Aires Herald
October 08, 2023 16:04 UTC
Seven suspects in assassination of Ecuador candidate murdered in prison
Seven men suspected of involvement in the murder in August of Ecuador’s anti-corruption presidential candidate Fernando Villavicencio were killed in prison on Friday, the prisons agency said, barely a week before a crucial run-off election. Six of the killings took place in a penitentiary in Guayaquil, the South American country’s largest city, the attorney general’s office announced. The prisons agency announced a seventh death at another prison. The SNAI prisons agency said in a statement that six of the seven murdered men were Colombian nationals. The second round run-off vote is scheduled for October 15, the culmination of an election cycle marred by numerous incidents of violence.
Source:Bueno Aires Herald
October 08, 2023 07:56 UTC
They reported on the crimes of Argentina's dictatorship and then told the world
It’s June of 1978, and the FIFA World Cup hosted by Argentina has just finished. “Congratulations on the World Cup, Mr. Videla”. Help us.”Barend interviewed the Mothers at the exact same moment the 1978 World Cup opening ceremony was taking place in River Plate stadium. They remained unharmed and left the country as soon as they could after the World Cup ended. Van der Putten had lived in Argentina previously but left a few months after the March 24, 1976 coup.
Source:Bueno Aires Herald
October 07, 2023 20:49 UTC
As dollar reaches record highs, government tightens controls and raids banks
The authorities cracked down on underground dollar operations on Thursday and Friday, raiding banks and launching investigations and filing complaints against brokerages. The government also further restricted access to U.S. dollar bonds on Thursday. The MEP dollar (the financial rate investors get in the local market) made more moderate gains, reaching AR$812.7 on Friday. The government intervenes heavily in the MEP rate, and a report by the consultancy 1816 estimated that on Thursday alone, the Central Bank “burned” US$100 million in the MEP market to keep the price at bay. AFIP also found that 857 people with inactive tax identification numbers had apparently been active in the MEP dollar market, the government said.
Source:Bueno Aires Herald
October 07, 2023 20:49 UTC
Train to Vaca Muerta: new extension to reduce costs and increase resources
The government is trying to negotiate a railroad extension that would connect the shale oil reservoir Vaca Muerta to one of Argentina’s main ports in Bahía Blanca. The expansion of the railroad structure will lower costs for the arrival of inputs and increase transport capacity up to six times. The government’s current priority is the section that reaches Vaca Muerta — 83 kilometers of new railroad. Vaca Muerta aims to reach a rate of one million oil barrels per day. While in 2018 Vaca Muerta was estimated to require 985,000 tonnes, by 2030 the demand through railroad transport is expected to be 2.73 million tonnes.
Source:Bueno Aires Herald
October 06, 2023 21:58 UTC
Buenos Aires City inflation reached record-breaking 12% in September
Monthly inflation for Buenos Aires was 12% in September, according to the city government’s second price index since August’s 22% devaluation of the peso. It is the highest monthly figure since the government began tracking inflation in 2012. These increases were driven by sectors including food, drink, housing, utilities, hospitality, and clothing, the Buenos Aires city government’s General Directorate of Statistics and Census (DGESYC, by its Spanish acronym) wrote in its monthly report. According to the consulting firm Ecolatina, inflation in Greater Buenos Aires was 12.4% in September. The National Institute for Statistics and Census (INDEC) will release the national figure for September on October 12.
Source:Bueno Aires Herald
October 06, 2023 21:57 UTC
Amnesty International: Jujuy’s police committed arbitrary detentions, illegal use of force
An investigation led by Amnesty International concluded that Jujuy’s provincial police carried out arbitrary detentions and illegal use of force on June 20 when repressing protests against a controversial constitutional reform. Different national and international human rights organizations and government officials— including President Alberto Fernández — heavily criticized the reform and the repression. The findingsFrom September 25-29, an Amnesty International delegation visited the city of San Salvador de Jujuy and the provincial municipalities of Tumbaya, Cochinoca, Humahuaca and Susques. They also requested meetings with the Secretary of Human Rights and the Secretary of Indigenous Peoples of Jujuy, which have not yet been held. “And that they respect the right of Indigenous communities to free, prior and informed consultation, as protected by both international human rights law and the Argentine constitution.”
Source:Bueno Aires Herald
October 06, 2023 00:39 UTC