Argentina’s struggling currency hit a record low against the dollar on Thursday, weakening over 4% to close at 42.5 pesos per dollar, a challenge for President Mauricio Macri as he looks to right the economy ahead of elections in October.
Over 20.000 people are estimated to have been evacuated or suffering flooding because of continued rains in Buenos Aires province where a wind alert for the River Plate area and coastal zones is hampering draining possibilities, a situation which started last week and is expected to last until Sunday.
Argentine president Cristina Fernandez flew on Tuesday evening to Rio Gallegos, where according to the presidential agenda she will visit the mausoleum built by her to the memory of her late husband and former president Nestor Kirchner.
In an extremely aggressive speech in the aftermath of primaries defeat, Argentine president Cristina Fernandez blasted the media for misinterpreting electoral results, charged against the Mayor of Tigre Sergio Massa who was the big winner on Sunday, pressed for full commitment from her allies and promised more of the same in support of the ‘socially inclusive model’.
Election fever in Argentina: the administration of President Cristina Fernandez froze the price of gasoline and diesel sold at service stations for six months and convinced banks to cut interest payments on arrears. Last month supermarket chains and other suppliers agreed to extend the current price freeze.
Argentine president Cristina Fernandez is totally in agreement with a constitutional review opening the way for a third consecutive re-election, claimed the main opposition party president who anticipated political forces will rally to try and stop the initiative.
Argentine lawmaker and close counsellor of President Cristina Fernandez Carlos Kunkel rejected on Tuesday the idea that the ‘Kichnerite era’ could end if President Cristina Fernández is not re-elected in 2015 presidential elections as has been suggested by some of her followers and the opposition.
The Argentine government spent 1.225 billion Pesos (307.8 million dollars) in 2010 on public advertising campaigns, noting an increase of 25 times since 2003, according to a recent study (*) released by Poder Ciudadano, the Argentine national chapter of Transparency International.
Uruguayan President José Mujica, 76, announced he would not be attending President Cristina Fernández inauguration ceremony on Saturday after his doctor recommended he should rest for the next few days. His wife, First Lady and Senator Lucía Topolansky will be attending instead.
Cristina Fernandez takes the re-election oath on Saturday with government accounts and the energy bill in red, which contrasts with the surplus condition enjoyed by Argentina when she first took office four years ago.