Argentina News Headlines Auscast Network

These are the trending news headlines in Argentina on Monday April 10, 2023
In a recent interview, Martín Lousteau, Unión Cívica Radical senator and mayoral hopeful for the City of Buenos Aires, discussed Argentina’s economy and the need for a collective change of course. He emphasized that shock policies should be avoided and gradually applied measures should be taken to bring order to the economy. Lousteau also highlighted the importance of political clout for the economy minister and the need for complementing the differences between the Radicals and PRO to improve Juntos por el Cambio. He pointed out that an economist should have a combination of knowledge in philosophy, sociology, political science, mathematics, history, and everything else to be a good economist. Lousteau disagreed with the focus that Juntos por el Cambio gives to economic issues and explained that to order the economy, politics should also be brought to order. He suggested that a political channel should be constructed where every imaginable economic plan can be thought up within that political channel so that it can have more political support with a broader political channel. He emphasized the need for gradual reforms and the avoidance of shock policies.
The Buenos Aires airport has become an unofficial homeless shelter, with around 100 people sleeping inside the facility every night. Many of them have been living there for months, even years, due to rising poverty in Argentina, which is making it difficult for people to afford basic necessities like rent and food. The poverty rate has risen to 39.2% of the population, with an annual inflation rate of 102.5%. The airport, known as Aeroparque, has become a refuge for many, but the company that operates it says it lacks the authority to evict them. Some passengers choose to emigrate to other countries, citing the difficult living conditions in Argentina.
In sports news, Argentina has returned to the top of the FIFA international rankings, knocking rivals Brazil down to third place. The latest update was helped by recent victories in friendlies against Panama and Curacao. France moved up to second place after their 2022 World Cup runners-up finish. Besides the top three, there were no other movements in the top 10, with Belgium, England, Netherlands, Croatia, Italy, Portugal, and Spain all holding on to their previous places. The United States men’s national team remained steady at 13th place, while Canada improved six places to 47th in the updated rankings. Central African Republic made the biggest move, jumping 10 places up to 122nd.
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These are the trending news headlines in Argentina on Saturday April 8, 2023
Argentina has officially rejoined the Union of South American Nations (UNASUR) to promote the institutional revitalization and build a more integrated region. Argentina's Foreign Minister, Santiago Cafiero, stated that the move is crucial for the country, as it will consolidate a more integrated region with greater intra-regional trade and higher levels of cooperation for development. President Alberto Fernandez had announced the decision to rejoin the bloc on March 21, during a meeting with members of the Puebla Group and the Latin American Council for Justice and Democracy. After Uruguay's withdrawal from the organization in 2020, only Guyana, Suriname, Bolivia and Venezuela remain in the union.
Argentina's Foreign Minister, Santiago Cafiero, has stated that his country is continuing to pursue a peaceful resolution with the United Kingdom over the territorial dispute regarding the Malvinas Islands, also known as the Falkland Islands. In an interview with Télam news agency, Cafiero stressed the importance of negotiations and Argentina's determination to reclaim the land. He emphasized that Argentina has the right to preserve its territorial integrity and called on international law and the resolutions of the United Nations to be complied with. Cafiero also criticized London's attempts to promulgate a particular fact pertaining to self-governance, which he censured as false. He further underlined the need to disseminate knowledge globally regarding Argentina's rightful entitlements to the region.
Argentina has announced its plan to aid the Vanuatu Pacific archipelago's recovery from two powerful cyclones and an earthquake that hit in early March. The Argentine Chancellor Santiago Cafiero will send the "Pyam 33mg" water-purification tablets to Vanuatu through the national Agency for International Cooperation and Humanitarian Assistance. The pills will allow Vanuatu to produce a million liters of drinking water. The aid will go to the two cities that have suffered the most from natural disasters, Shefa and Tafea. Vanuatu has 83 islands with about 450,000 square kilometers of territorial waters and has the highest world risk of natural disaster occurrence. The local authorities hope that the United Nations General Assembly (UNGA) approves a resolution to give greater priority to fighting climate change, to which small island states are highly vulnerable.
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These are the trending news headlines in Argentina on Thursday April 6, 2023
Argentina is facing billions of dollars in legal losses after courts in the US and UK ruled against the country in a series of lawsuits related to growth-linked securities and the nationalization of an oil company a decade ago. This is the latest challenge for Argentina, which is struggling with 100% inflation, dwindling foreign reserves, a drought that is damaging export crops, and a looming presidential election in October. Experts predict that the settlements could be in the billions of dollars. Argentina's dollar bonds extended losses after the latest ruling out of the UK, which holds the nation liable for losses in so-called GDP warrants after the country changed its method of calculating growth. A third US-based court case will be heard later this year over a similar dispute involving Argentina’s dollar-denominated warrants. Argentina is no stranger to lengthy court battles and the country's new administration will inherit both the potential legal payouts, as well as a $65 billion pile of overseas bonds that begins maturing in 2025.
The International Monetary Fund (IMF) has lowered economic targets for Argentina, but some analysts believe the targets are still too high and may set the country up for further failure. The IMF cut the level of foreign currency reserves Argentina needs to build up by the end of this year due to a drought that has affected production of top exports soy and corn. However, analysts have criticized the IMF's inflation aims, crop production forecasts, fiscal targets, and reserves buildup aims as overly optimistic and out of Argentina's reach. Goldman Sachs' Sergio Armella wrote that Argentina seemed unlikely to have met the adjusted reserves and fiscal targets for the first quarter and that the country would face rising pressures as it approaches October's presidential elections.
MotoGP rider Marco Bezzecchi has described his emotions as "desperate" upon learning that the Argentina GP would be held in the wet. However, he went on to make history at the race, taking his maiden victory in MotoGP and the first for Valentino Rossi's team. Bezzecchi dominated the race from the start, finishing over four seconds ahead of his nearest rival. He admitted that mentally, the rain made the race much tougher, but he managed to stay focused and calm, telling himself to be gentle with the bike and keep his concentration. Despite not understanding why he was stronger than the rest of the field, Bezzecchi was overjoyed with the result, saying it was "something that you can’t describe, it’s incredible".
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These are the trending news headlines in Argentina on Wednesday April 5, 2023
Argentina's monthly inflation is likely to have hit its fastest pace in at least seven months, with consumer prices forecast to have jumped 7% from the previous month, posing a challenge for Economy Minister Sergio Massa ahead of the October elections. The country's currency controls, multiple exchange rates, and price freezes on thousands of items are proving ineffective in controlling inflation, which could climb further above 100% annually, challenging Massa's political future. The country's dependence on agricultural exports and the impact of weather on the economy and politics mean that governments have a greater chance of success with fair weather, while drought years leave fragile financial and economic markets with recovery possible only after two harvests. The exit from the current crisis is likely to be slow, taking at least two years, and governments should consider insuring farmers against unpredictable weather to protect agricultural production and the broader economy.
Argentina's economy is facing a significant setback as droughts continue to impact the country's agriculture industry. Losses of $12 billion to $15 billion are predicted for the country's export earnings due to drought, and history shows that climatic phenomena like La Niña can have a considerable effect on Argentina's economy and sitting governments. Extended droughts with a lack of rainfall frequently have political consequences, especially in electoral years. In general, La Niña results in a circulation of the atmosphere with a negative impact on the distribution of humidity over Argentina. Combined with drought, heat waves in summer and frost in both early and late winter become lethal weapons against agricultural production. The rainfall of January and February has brought some relief in some zones, but it did not reach all the country or all the crops. The most recent calculations from the Rosario Stock Exchange forecast a plunge in hard currency earnings due to less exports. It is worth considering that the last 70 years have resulted in 26 years of El Niño, 24 years of drought from La Niña, and 20 neutral years with normal rainfall. The country's dependency on agriculture continues to have significant political and economic implications, especially during drought years.
Binance, the cryptocurrency exchange currently facing regulatory scrutiny in the U.S., is expanding its services in inflation-hit Argentina. Argentines can now buy and sell digital currencies directly with local pesos, allowing them to transfer pesos into a Binance account via a local partner. This move comes as cryptocurrencies become more attractive in Argentina due to annual inflation rates above 100%. While Argentina does not regulate crypto exchanges, the central bank has repeatedly warned about the risks of cryptocurrencies and markets regulator CNV is backing a bill to create a registry of providers offering virtual assets. Despite regulatory concerns, Argentina was among the top 15 countries in the world for crypto adoption last year, according to the Chainalysis index.
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These are the trending news headlines in Argentina on Tuesday April 4, 2023
In Argentina, a top law enforcement official of Buenos Aires province was attacked by protesting bus drivers on Monday. The protesters were demanding a crackdown on crime after a fellow bus driver was slain during a holdup in the city earlier that day. As TV cameras followed him, the official, Sergio Berni, approached the protesters, who began attacking him with punches, kicks and rocks. Berni suffered skull and cheekbone fractures and had to be removed from the scene by police officers. Despite his injuries, Berni vowed to track down the perpetrators in the slaying of the bus driver.
Argentina is set to launch a "soy dollar" preferential exchange rate for farm exports on Monday, aimed at boosting the agricultural sector and replenishing foreign reserves in the central bank. President Alberto Fernandez hopes the plan will generate some $15 billion between the second and third quarters of 2023. The new exchange rate will be an incentive for soybean exports and will be maintained for the next 90 days to stimulate foreign trade in regional economies. The move comes after the agricultural sector lost around $20 billion last year due to a drought that hit crops of soybeans, corn and wheat, slowing the economy amid galloping inflation. Argentina is the world's top exporter of soy oil and meal and the third-largest exporter of corn.
MotoGP rider Alex Marquez says he's not concerned with what people think about him as a rider, following his podium finish at the Argentina Grand Prix. The Gresini Ducati rider qualified on pole for the first time in his MotoGP career and went on to secure his first MotoGP rostrum since the 2020 Aragon GP. Marquez, who had a difficult two years with LCR Honda in 2021 and 2022, said he chose Ducati and the Gresini team because he wanted to be with the best bike and a proper team. While he admits his results have exceeded his expectations, he says he still needs to work on riding in the best way for the Ducati.
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These are the trending news headlines in Argentina on Friday March 31, 2023
In a bilateral meeting at the White House, Argentine President Alberto Fernández and US President Joe Biden discussed the heavy economic challenges faced by both leaders upon taking office. Biden repeated several times that Fernández inherited a destroyed economic situation from his predecessors, like himself. They also spoke about the need for a strategic alliance based on food, energy, and critical minerals, such as lithium.Fernández's delegation sought support from the United States in discussions with the International Monetary Fund (IMF) and other multilateral organizations. The meeting lasted for over an hour, with the participation of top officials such as US Treasury Secretary Janet Yellen, US National Security Advisor Jake Sullivan, and US Secretary of State Antony Blinken.Yellen's presence was significant for Argentina, given the ongoing talks with the IMF. Biden reiterated his support for Argentina at multilateral organizations, and Yellen endorsed the country's fiscal efforts while emphasizing the importance of the Central Bank's reserves.During the meeting, Biden praised Fernández's leadership in the region and spoke of the possibility of working together in uncertain times. The meeting ended with a detailed discussion of how to increase food production, with projections for production growth in 2024 presented by Argentine officials.
Argentina has put forward a formal bid to host this year's Under-20 World Cup after Indonesia was stripped of its rights to stage the tournament. FIFA President Gianni Infantino said that Argentina was the only country to submit a formal offer, adding that the decision will be made by the FIFA Bureau in two or three days. The tournament is scheduled to start on May 20. Infantino praised Argentina's football history and facilities, while Israel's Ambassador to Argentina, Eyal Sela, expressed support for Argentina to host the tournament, saying they deserved it as world champions.
Pope Francis' hospitalization in his homeland of Argentina due to a respiratory infection has led to an outpouring of prayer and well-wishes for the 86-year-old pontiff. Despite concerns about his health, most people remain confident that he will soon fully recover. The Vatican has reported that his condition is improving and that he has resumed working while treatment continues. In Buenos Aires, where the pope grew up and spent his early years, people gathered in prayer for his health and strength. Many expressed their admiration for the pope, who is very influential and beloved worldwide. Despite the seriousness of his illness, people remain hopeful and confident that he will overcome it with his characteristic strength and resilience.
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