Veda electoral: do’s and don’ts for the primaries this weekend
On Sunday, millions of Argentinians will head to the polls to vote in their primary elections, better known as PASO. This means that a veda electoral (electoral ban) will be in effect for a period of 36 hours, until voting stations close at 6 p.m. that evening. These restrictions may seem moralistic to the uninitiated, but the veda isn’t limited to wine and spirits. This weekend, all sporting events, theatrical productions, and open-air shows will be suspended, along with any other public gatherings unrelated to the elections. News outlets cannot publish or disseminate electoral polls and projections about the results of the elections before their completion.
Source:Bueno Aires Herald
August 09, 2023 19:42 UTC
Lula seeks global rainforest nation pact at Amazon summit
Brazil’s President Luiz Inacio Lula da Silva on Wednesday hopes to forge a united front among rainforest nations when they engage in international climate negotiations, building on an accord a day earlier at a summit of Amazon nations. The leftist leader aims to bring a similar message to this year’s United Nations climate summit, known as COP28, backed by a strengthened coalition. The first day of the Amazon Summit resulted in a broad agreement for the region to cooperate on areas like combating organized crime and scientific research. At last year’s climate summit, Brazil, Democratic Republic of Congo and Indonesia agreed to form an alliance to pressure rich countries to pay for conservation. Norway and Germany, major contributors to Amazon conservation in Brazil, will participate as well as France, technically a rainforest nation because of its overseas territory of French Guiana.
Source:Bueno Aires Herald
August 09, 2023 16:24 UTC
Analysts expect higher inflation in July and August
The INDEC will publish July’s monthly inflation on August 15, which analysts forecast will be higher than June’s. For instance, raises in meat prices is one that stands out. This can be seen in the first week of August and will have an impact on monthly inflation. It’s still difficult to make a projection, but the increase in meat prices will be a key factor in August inflation”, Montano explained. Based on what they observed in the first week of the month, consulting firm Eco Go also projects a higher food inflation for August.
Source:Bueno Aires Herald
August 09, 2023 14:13 UTC
August 7: a day for gamblers, workers and the unemployed
Today, Gaetano is celebrated as St. Cajetan of Thiene and, in Argentina, as San Cayetano — the patron saint of gamblers, workers, and the unemployed. Every August 7, thousands of believers make the pilgrimage to Santuario de San Cayetano (Sanctuary of San Cayetano) in the Liniers neighborhood of Buenos Aires to pay their respects. San Cayetano is believed to provide bread and work, so it follows that he may be in high demand this year. Tú eres toda mi esperanza, eres el consuelo mío, en Ti creo, en Ti confío. The thousands of annual visitors to the Sanctuary of San Cayetano are a testament to his efforts on behalf of the downtrodden.
Source:Bueno Aires Herald
August 08, 2023 03:42 UTC
‘Blue dollar’ almost AR$600 as primaries approach
With the primary elections six days away, Argentina’s informal dollar exchange rate — popularly known as the “blue dollar” — rose by AR$22 on Monday and reached a record nominal value of AR$596. “That creates tension in the exchange rate and deepens the dollarization process.”Meanwhile, the official dollar exchange rate, which also increased, is currently AR$295 per unit. Other factors aside from the upcoming elections include inflation, protracted negotiations with the IMF, and record-low international reserves. The national year-on-year inflation rate reached a record high of 115.6%. “It’s possible that it had an effect because it’s usually a predictor of how high national inflation will be,” said Quintana.
Source:Bueno Aires Herald
August 08, 2023 00:42 UTC
Messi Effect: ticket prices to see the Argentine star are soaring
Prices are soaring for those hoping to catch a glimpse of Lionel Messi playing with Inter Miami in the United States. In just three games, Messi has scored five goals — enough to make him the fastest player in league history to do so. After winning the Clásico del Sol against Florida rivals Orlando City, Inter Miami secured a place in the Leagues Cup round of 16. Ticket prices that ranged from US$675 in the general area up to US$5,850 are now starting at as much as US$9,000 in the Leagues Cup official resale site. Despite losing to Inter Miami in the Leagues Cup, Atlanta United saw its revenue go up.
Source:Bueno Aires Herald
August 06, 2023 00:34 UTC
White flag in JxC: Larreta and Bullrich to wait for primary results together
Buenos Aires city mayor Horacio Rodríguez Larreta and former security minister Patricia Bullrich will expect the primary election results that’ll determine who will be the presidential candidate for Juntos por el Cambio (JxC) in the same headquarters. The decision comes after months of escalating tensions between the two PRO members set to face off August 13. Although they share a common government program, during the campaign Bullrich has presented herself as a hardliner, while Larreta says he believes in dialogue. Two weeks ago, Larreta strongly criticized Bullrich after she proposed “shielding” the Central Bank with another loan from the International Monetary Fund. “Let’s take a look at the history of Argentina, how did that government end after the loan was signed?
Source:Bueno Aires Herald
August 05, 2023 23:30 UTC
First lithium battery plant in Argentina to open in September
State company Y-TEC, the tech arm of YPF, will open the first lithium battery cell factory in September, in La Plata, the capital of Buenos Aires province. Battery factoriesThe lithium batteries’ cell manufacturing plant in Berisso, La Plata, will open in September, an event top government officials are expected to attend. The plant will generate 15 megawatts per year, which means it will produce lithium batteries capable of powering 2500 households. Lithium batteries would thus be a way to store energy until it’s ready for distribution. Chile has lithium, but not an automotive industry, while Brazil has a [car] industry but hasn’t exploited its lithium yet.
Source:Bueno Aires Herald
August 05, 2023 15:39 UTC
The China miracle explained
China has also been helping countries to develop in a few ways, including:Providing financial assistance: China has provided billions of dollars in financial assistance to developing countries, in the form of loans, grants, and debt relief. This has been used to support projects including infrastructure development, education, and healthcare. Infrastructure investment: China has invested heavily in infrastructure projects in developing countries, such as roads, railways, and ports. Transferring technology: China has transferred technology to developing countries, helping them improve their manufacturing and production capabilities. Today, China is looking for markets with the huge growth potential that comes from lifting the majority out of poverty and bringing them into the marketplace as consumers.
Source:Bueno Aires Herald
August 05, 2023 05:15 UTC
Amazon nations to set up rainforest science panel
Amazon countries meeting next week for a summit on cooperation to save the rainforest aim to set up a scientific body like the U.N.’s Intergovernmental Panel on Climate Change (IPCC) to share research, Brazil’s environment minister said. “The idea is to have a scientific panel for the Amazon with scientists from different countries, along the lines of the IPCC,” Marina Silva said in an interview on Thursday. The panel would help produce sustainable development policies for the countries of the region while remaining independent of governments, and monitor the impact of climate change on the Amazon rainforest and ecosystem, she said. Lula has overhauled Brazil’s environment policies since taking office in January, succeeding far-right president Jair Bolsonaro, who relaxed protection of the environment and encouraged development of the Amazon, where deforestation soared. Preliminary government figures showed on Thursday that deforestation in Brazil’s Amazon fell in July to its lowest level since 2017, boosting Lula’s credibility on environmental policy ahead of the summit.
Source:Bueno Aires Herald
August 05, 2023 02:25 UTC
Government further restricts access to USD bond market
This meant earning up to 2% more in US dollars since government intervention led to the same bond having different prices. Consulting firm Ecolatina calculated that, during the first semester, the government used US$1.2 billion to intervene in the MEP dollar market. The MEP dollar is the exchange rate implicit when investors buy shares or bonds in pesos and sell them in dollars in the local market. “Today, a new exchange rate gap between the immediate settlement MEP [exchange rate] and the 2-day settlement MEP was opened,” he told the Herald. The MEP dollar jumped by 0.3% and ended at AR$514 while the blue-chip swap rate was AR$576.7.
Source:Bueno Aires Herald
August 04, 2023 16:33 UTC
Brazil's Central Bank cuts interest rate for first time in three years
Brazil’s Central Bank decided on Wednesday to lower its benchmark interest rate, SELIC, by 50 basis points to 13.25%. Lula accused Campos Neto of defending economic interests outside of Brazil by keeping up high interest rates despite inflation slowing down. Lula’s dispute with Campos Neto has been fueled by the Central Bank maintaining a 13.75% interest rate — from September 2022 until now — in order to comply with the entity’s 2023 objective of 3.25% inflation. Brazil has an interannual rate of 3.26% and suffered an 0.08% deflation in June. The country’s real interest rates are considered the highest in the world in relation to its inflation rate.
Source:Bueno Aires Herald
August 04, 2023 11:41 UTC
Government orders shutdown of British radar in Tierra del Fuego
The Defense Ministry has issued a technical report and decided to shut down the operations of a radar in Tierra del Fuego province owned by the U.S. and British company LeoLabs. The radar is referred to by LeoLabs as the Argentina Space Radar, or AGSR. Alongside International Affairs secretary Francisco Cafiero, Taiana had found evidence that the LeoLabs company was of British origin. “I fully share Minister Jorge Taiana’s decision to definitively cancel it,” said Pablo Blanco, a senator for Tierra del Fuego with opposition coalition Juntos por el Cambio. “The Tierra del Fuego government owes the country an explanation.
Source:Bueno Aires Herald
August 03, 2023 19:33 UTC
Lula says he prays Argentina elects president who defends social inclusion
Brazilian President Luiz Inácio Lula da Silva said he prays that in the upcoming elections Argentina elects a president that will “defend social inclusion and development.”He added that the International Monetary Fund (IMF) needs to have “patience” in its renegotiations with the country regarding the US$44 billion debt former President Mauricio Macri acquired in 2018. That [they] elect a candidate that favors social inclusion and development, and not someone who believes that all public policies are useless spending, or that Argentina’s problems can be solved through privatization,” Lula said during a breakfast with foreign correspondents in the Presidential Palace in Brasilia. Regarding the IMF, Lula da Silva said that it needs to be reformed, proposing the aim should be to create institutions that are more “flexible and generous” with countries that receive loans. The IMF should be patient,” Lula said, adding that the drought has impeded the country from obtaining the foreign currency it usually obtains from agricultural exports. He even mentioned that he has discussed the matter with Chinese President Xi Jinping.
Source:Bueno Aires Herald
August 03, 2023 18:56 UTC
Néstor Kirchner gas pipeline filling completed, is now operational
The Néstor Kirchner gas pipeline successfully completed its filling and trial period and is now fully operational and ready to transport gas from Vaca Muerta to Buenos Aires city. The 573 kilometer-long pipeline is full with 25 million cubic meters of gas from Vaca Muerta. History of the Néstor Kirchner gas pipelineThe NK gas pipeline was launched July 9 in an event with President Alberto Fernández, Vice President Cristina Fernández de Kirchner and Economy Minister Sergio Massa. The pipeline’s path starts at the gas treatment plant in Tratayén, Neuquén, which is located at the heart of the Vaca Muerta shale oil and shale gas deposit. The government is also preparing to work on the reversal of the gas flow of a tranche of the North Gas Pipeline.
Source:Bueno Aires Herald
August 03, 2023 02:15 UTC