Ex-economy minister: “impossible” to eliminate cepo overnight
Hernán Lacunza, the Economy Minister of former president Mauricio Macri’s administration, said it’s “impossible” to eliminate the currency restrictions from one day to the next. In December of that year, a few days after former president Mauricio Macri took office, it was announced that all currency controls were being eliminated. And then you can eliminate the cepo,” but that wouldn’t mean doing it from one day to another, he said. “Lifting the currency controls in a day, or dollarizing the economy, are unfeasible shortcuts. Lacunza took his place, and, together with Central Bank president Guido Sandleris, decided to bring back the cepo shortly afterwards.
Source:Bueno Aires Herald
June 28, 2023 20:22 UTC
“Electoral trade”: stocks and bonds up 17%
by Juan Pablo MarinoFollowing the frenzied definition of candidacies last weekend, investors sped up the so-called “electoral trade” on Monday, June 26, after the news that Economy Minister Sergio Massa will lead the ticket. Argentine bonds and stocks saw record rises, in some cases up to double digits, both in Wall Street and the local stock market. The assets “extended the ‘electoral trade’ that was already in the works, in an anticipated wager on a political change of times,” he added. In the local stock market, highlights included stocks by Edenor (+17.1%); Banco Macro (+7.4%); banco BBVA (+6.8%), and Mirgor (5,2%). Finally, CER bonds went up an average of 0.5% across the curve, and the DICP stood out again, as it climbed by 3%,” according to SBS.
Source:Bueno Aires Herald
June 28, 2023 10:40 UTC
Argentina’s national women’s football team set to play for the World Cup with new support and expectations
The 2023 Women’s World Cup will take place from July 20 to August 20, with games split between the two host countries of Australia and New Zealand. The national team held a press conference on June 14, the first time journalists gathered to interview the players before leaving for the World Cup. Searching for its first World Cup win, the team is looking to leave a lasting impression on the world stage. South Africa, their second opponent, is also without a World Cup win but won the last African Cup of Nations in 2022. “The emotion of the World Cup, being able to enjoy it with my family was something incredible, but our reality is different.
Source:Bueno Aires Herald
June 27, 2023 18:17 UTC
Massa’s first campaign speech: “I will leave every drop of sweat to ensure victory”
Sergio Massa gave his first campaign speech as Unión por la Patria (UxP) presidential candidate Monday night in a rally in Buenos Aires province, where he appeared alongside Governor Axel Kicillof, who will be running for reelection, Interior minister Eduardo ‘Wado’ De Pedro, and national deputy Máximo Kirchner. “We have a tough one ahead of us, but I will leave every drop of sweat, every cubic centimeter of blood to ensure victory,” said Massa, just a few hours after participating in his first appearance as presidential candidate alongside Vice President Cristina Kirchner at an event to repatriate an aircraft that was used to murder victims of state terrorism during Argentina’s last dictatorship. Kicillof also spoke at the rally, telling the crowd that a “huge challenge” is approaching. Juan Grabois and Massa, the two presidential candidates to compete in the coalition’s primaries, will both carry Kicillof and his national deputy and senator candidates on their ballots. “You’ll see later [who I support],” were his words.
Source:Bueno Aires Herald
June 27, 2023 15:02 UTC
CFK talks electoral behind the scenes at “death flight” plane repatriation
“If there had been [intra-coalition primaries], Wado was our candidate,” Kirchner said — Massa was sitting directly to her right and De Pedro in the audience. Members of the Mothers of Plaza de Mayo Association were in attendance alongside Unión por la Patria (UxP) politicians. The vice president went on to heavily criticize the president and others within UxP for insisting on intra-coalition primary elections. “I want the plane at the Ex ESMA so all the denialists that say this didn’t happen can see it. As was recounted at today’s event, the Economy Ministry bought the plane earlier this year after months of negotiations.
Source:Bueno Aires Herald
June 26, 2023 23:22 UTC
Fernández visits Brazil to celebrate 200 years of bilateral relations
President Alberto Fernández traveled to Brazil this Monday on the invitation of his Brazilian counterpart Luiz Inácio “Lula” da Silva, to celebrate 200 years of bilateral relations between the two countries. Argentine Foreign Minister, Santiago Cafiero, and Ambassador to Brazil Daniel Scioli will also be there, the Argentine government said in a press release. “Today I will receive in Brasilia my friend and president of Argentina, @alferdez, in celebration of the 200 years of diplomatic relations between our countries,” Lula tweeted on Monday afternoon. Hoje recebo em Brasília o amigo e presidente da Argentina, @alferdez, celebrando 200 anos de relações diplomáticas entre nossos países. Fernández was in Brasilia on January 1 when Lula took office.
Source:Bueno Aires Herald
June 26, 2023 20:49 UTC
Guatemala elections: run-off for ex-first lady, anti-graft candidate
Former first lady Sandra Torres will have to face a run-off in August in Guatemala’s presidential election after a vote on Sunday looked set to pit her against Bernardo Arevalo, another center-left candidate running on an anti-corruption platform. Tackling corruptionOpinion polls ahead of the election had not suggested that Arevalo, an ex-diplomat and son of former president Juan Jose Arevalo, would make the run-off. We came to win the elections,” Arevalo wrote on Twitter as results came in. Preliminary results pointed to a fragmented Congress, however, which could make it hard for the next president to govern. Polls have suggested that the 67-year-old Torres will struggle to win a run-off given her unpopularity in the capital, Guatemala City, home to a high percentage of the electorate.
Source:Bueno Aires Herald
June 26, 2023 11:51 UTC
No clear favorite as Guatemala votes for new president
Guatemalans began voting on Sunday in a hotly contested presidential election dominated by concerns over corruption, the exclusion of a leading candidate, and the cost of living, with the vote set to result in a second round run-off in August. She is up against more than 20 other candidates, including Edmond Mulet, a career diplomat, and Zury Rios, daughter of the late dictator Efrain Rios Montt. “That is tremendously serious.”In addition to electing the president and vice president, 9.3 million eligible voters also choose a new Congress, hundreds of mayors, and 20 members of the Central American Parliament. Polls currently predict that Torres, the ex-wife of late President Alvaro Colom (2008-2012), will likely lose a head-to-head runoff given her lack of popularity in the capital Guatemala City, home to a high percentage of the electorate. This is the 67-year-old politician’s third run for president.
Source:Bueno Aires Herald
June 25, 2023 20:03 UTC
Translation troubles: repressed financial bicycles
As a newsroom reporting on a Spanish-speaking country in English, we often find ourselves conscientiously thinning the veil between the two languages. But most of the time, we’re left wishing there was some way of conveying the essence of Argentine Spanish when there just isn’t time or space to do so. The term bicicleta financiera actually has a direct English translation, “carry trade” (borrowing capital from a country at a low-interest rate and lending it at a high-interest rate). Alas, we went with the direct translation, but at least we all know that the term has an Argentine soul now. Share your thoughts and translation hang-ups with us on Facebook, Twitter or Instagram!
Source:Bueno Aires Herald
June 25, 2023 18:37 UTC
“He was in the dance”: politicians react to Massa presidential run
Let’s build victory for Sergio Massa as president and Axel Kicillof as governor.”His comment was the first official confirmation that Axel Kicillof will run for re-election as governor of Buenos Aires. Tucumán Governor Juan Manzur, who had been touted as a vice presidential candidate on De Pedro’s ticket, congratulated the pair in a tweet on Friday night. Social leader Juan Grabois, who had initially withdrawn his candidacy to support De Pedro, retraced his steps and said he intends to run. However, his name had been floated as a possible presidential candidate, especially since he was made Economy Minister in August 2022. In 2019, current President Alberto Fernández secured a 14 percentage point lead in the primaries over incumbent Mauricio Macri, who was running for re-election.
Source:Bueno Aires Herald
June 24, 2023 15:58 UTC
Unión por la Patria announces Massa and Rossi as only presidential ticket
By Amy Booth, Facundo Iglesia and Estefanía PozzoRuling coalition Unión por la Patria (UxP) has announced that Economy Minister Sergio Massa will be its presidential candidate with Chief of Staff Agustín Rossi as his Vice President, the coalition announced via social media just before 9 p.m. on Friday. — Unión por la Patria 🇦🇷 (@unionxlapatria) June 23, 2023Official response“It’s a decision thinking of what’s best for the country,” presidential spokeswoman Gabriela Cerruti told the Herald. For months, Massa made it clear that he was against UxP fielding multiple presidential tickets and having them compete against each other in primaries. However, Grabois had said that he would run outside the coalition if Massa was UxP’s sole candidate. Minutes after UxP announced their decision, Grabois stated that he intends to run.
Source:Bueno Aires Herald
June 24, 2023 06:36 UTC
Scioli launched his campaign: “Primaries are the best form of unity"
Primaries are the best form of unity,” he said, adding that the only vote that matters is the people’s vote. Present at the event were also Foreign Affairs minister Santiago Cafiero and National Security minister Aníbal Fernández, a sign of the tacit support President Alberto Fernández has given to the former Buenos Aires province governor’s campaign. Scioli defended the president, saying he had managed to keep the ruling coalition together despite the infighting, and that the economy is “in motion.”“Argentina is moving along. Daniel Scioli, a former offshore powerboat racer, began his political career running for Buenos Aires city national deputy for the Partido Justicialista in 1997. After being vice-president under President Néstor Kirchner from 2003 to 2007, he became Buenos Aires province governor.
Source:Bueno Aires Herald
June 23, 2023 15:02 UTC
Latin American leaders exhort Biden to support Argentina in IMF talks
The Argentine government sent a letter to United States President Joe Biden today, asking him to support Argentina in its negotiations with the International Monetary Fund (IMF). The letter was co-signed by six Latin American presidents: Lula Da Silva (Brazil), Luis Arce (Bolivia), Gabriel Boric (Chile), Gustavo Petro (Colombia), Andrés Manuel López Obrador (Mexico), and Mario Abdo (Paraguay). Nevertheless, sources in the Economy Ministry told the Herald that the government is going forward with payments to the IMF for US$1.9 billion, as per the renegotiated maturities calendar. “It is a negotiation, and some days are better than others,” sources in the Ministry told the Herald. “It’s another show of the strength we have as a region if we work united,” Fernández said.
Source:Bueno Aires Herald
June 23, 2023 11:53 UTC
Energy subsidies drop by 16% as government aims to surpass IMF goal
Water, power, and transport subsidies are down 15% for the January-May period, compared to the same period last year. While the government will not fulfill the International Monetary Fund’s (IMF) fiscal goals due to the effects of the historic drought, it does aspire to over comply with the annual spending quota on power subsidies. However, payments to [power distribution company] Cammesa were issued for AR$ 440.3 billion, a 49% reduction in real terms. Tariff segmentation was still not implemented in the same period of 2022, when power prices reached record values due to the war in Ukraine. Most transport subsidies go to its infrastructure system fund, which finances subsidies on passenger transport: AR$112.7 billion, a 19% increase in real terms.
Source:Bueno Aires Herald
June 22, 2023 18:43 UTC
Jujuy: international human rights organizations express concern
Numerous international organizations have condemned the police repression in Jujuy from the past few days, cracking down on protests against the recent reform of the provincial constitution. Since the reform was passed, protests across the province intensified and a brutal police crackdown began on Saturday. Llamamos a promover el diálogo y evitar el uso excesivo de la fuerza y la violencia. — Juanita Goebertus (@JuanitaGoe) June 20, 2023“We call for the promotion of dialogue and the avoidance of excessive use of force and violence,” she said. “The constitutional reform includes excessive limitations to protest that contradict international human rights standards”Amnesty International also chimed in, asking the Constitutional Convention and Morales to suspend the reform.
Source:Bueno Aires Herald
June 22, 2023 05:16 UTC