With less than two weeks for the PASO compulsory primaries in Argentina, in anticipation of the October midterm elections, the ruling political party of president Mauricio Macri Let us change, is expected to come out in a better position, whether it wins or loses with the revival of Kirchnerism.
Argentine president Mauricio Macri received on Wednesday Chancellor of the Exchequer Philip Hammond, who had anticipated the purpose of the visit was to deepen UK-Argentine economic partnership and address political issues of common interest, such as the 2018 G20 summit and Argentina's aspiration to join OECD.
The Chancellor of the Exchequer begins on Wednesday a round of trade, investment and political contacts in Argentina, following a two day visit to Brazil, as part of a tour of South America's biggest economy. It will be the most important visit of a British cabinet minister in over sixteen years to Argentina.
Argentina's Peso rose against the dollar on Monday for the first time in two weeks, after the central bank intervened in the foreign exchange markets on Friday to halt the currency's rapid decline to historic lows, when it reached 18 Pesos.
Chancellor of the Exchequer Philip Hammond is scheduled to arrive in Buenos Aires Tuesday evening following a two day business promotion visit to Brazil. It will be the first time a leading UK cabinet minister sets foot in Argentina in sixteen years; the last was when ex Prime Minister Tony Blair met ex president Fernando De la Rua in the Iguazu falls in 2001.
The members of Mercosur trade bloc called for an end to violence in Venezuela in a joint statement on Friday. However again opinions were divided: while Brazil and Argentina sponsored a more explicit warning to President Nicolas Maduro and his regime, Uruguay had it redrafted in a more conciliatory tone and Paraguay finally came out with a compromise option.
Argentina's new subsidized mortgage scheme is gathering steam, boosting construction activity and winning over the middle class ahead of mid-term elections in October that will determine the future of President Mauricio Macri's market-friendly agenda and his attempts to put the country's accounts in order.
Oil and gas production in Argentina has fallen to 1981 levels, the lowest in 25 years, despite a $14 million government subsidy for the first five months of this year. From last year to May 2017, the country has produced 2,311,736 m3 of oil and just under 3.8 billion m3 of gas, which shows a drop of 6% and 1.8% respectively.
The first day of the G20 summit is nearly over, and on Friday afternoon in Hamburg, British Prime Minister Theresa May canceled her solo meeting with Argentine President Mauricio Macri due to “scheduling problems.”
Argentine president Mauricio Macri is scheduled to meet in Hamburg with British Prime Minister Theresa May to reinforce cooperation and joint efforts but with the difference resulting from the dispute over the Falklands/Malvinas Islands remaining on the table, according to government sources in Buenos Aires.