Contrasting and controversial political ads for the Argentine presidential election next October have emerged allegedly launched by Mauricio Macri's advisory team, and they have caused quite a surprise when not a stir. The idea is to promote public works and investments undertaken by the Macri administration despite the virulent criticism of current policies.
Argentina will increase spending on energy subsidies by more than US$ 100 million this year to compensate gas companies hit by delayed domestic price increases, a source at the nation's energy secretariat said.
The Argentine Peso slid to all-time lows against the dollar as concerns about inflation, weak growth and October's presidential election weighed. The currency has lost 14% so far this year and the weakness raises fears of a repeat of the currency crisis of 2018 when the Peso lost half its value against the dollar.
Investors in Argentina are starting to get the jitters. The gap in yield between local and U.S.-issued bonds has roughly doubled in the last month in the face of stubborn inflation and mounting peso outflows, heaping pressure on President Mauricio Macri ahead of elections later in the year.
Argentina’s economy contracted 2.5% in 2018, the official statistics agency said on Thursday, as the Latin American country’s leaders struggle to revive growth after being rattled by a currency crisis and steep inflation over the past year.
Argentina, Chile, Paraguay and Uruguay re-launched their bid to host the 2030 World Cup following a meeting of their presidents in Buenos Aires on Wednesday. The four national presidents committed to creating a local organizing committee with a representative from each country to coordinate with CONMEBOL, South American football's governing body.
Argentina's former president Cristina Kirchner was charged in yet another corruption investigation on Monday, in this case over the fraudulent import of liquid gas. Judge Claudio Bonadio, who Cristina Kirchner accuses of political persecution, requested that the ex-president be placed in pre-trial detention, but her partial immunity as a senator shields her from imprisonment.
Franco Macri's dealings with the former Kirchnerite governments amount to a crime, Argentine president Mauricio Macri declared on Sunday in a wide-ranging primetime interview that touched on corruption, influence peddling, the October elections, former president Cristina Fernández de Kirchner's legal situation and his recently deceased father, Franco.
Denmark's Queen Margrethe II and Crown Prince Frederik are spearheading an official state visit to Argentina which started this Monday ahead of a larger business delegation which seeks to make inroads in the country.
A delegation from China will visit Argentina this month to discuss the construction of a nuclear power plant, signaling possible progress in a deal that could increase Beijing’s deepening influence in Argentina. Accordingly, the “technical team” from China would meet local suppliers about the long-stalled nuclear power plant project, reportedly worth up to US$8 billion.