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About Jonathan
Jonathan Gilbert is a journalist based in Buenos Aires, Argentina.
Languages
English
Services
Feature Stories Content Writing Corporate Content
+6
Skills
Fact Checking
Portfolio

Burford Seeks Argentina’s YPF Stake to Pay $16 Billion Award

23 Oct 2024  |  nz.news.yahoo.com
Burford Capital has requested a US judge to grant it control of a 51% stake in Argentine state oil company YPF SA to collect on a $16 billion court judgment against Argentina. The motion, filed in New York, seeks to transfer the shares through a custodial account at Bank of New York Mellon. The case stems from Argentina's 2012 seizure of YPF, which violated company by-laws. Despite Argentina's appeal, the judgment is subject to immediate collection. Burford, having acquired interests in YPF shares, stands to gain significantly if the judgment is enforced.

Leafhopper Swarms Threaten Argentina Crops and Economic Recovery

15 Oct 2024  |  finance.yahoo.com
Argentina's corn farmers face a severe setback as leafhopper swarms devastate crops, threatening the nation's economic recovery. The infestation, spreading spiroplasma disease, has significantly reduced production potential, with estimates for the corn crop dropping from 56.5 million to 49.5 million metric tons. The situation is exacerbated by rains affecting soybean harvests, potentially lowering crop quality and prices. The economic impact is substantial, with $4.5 billion in export revenue losses projected. President Javier Milei's plans to boost the economy by removing money controls face challenges from these agricultural setbacks and potential future droughts due to La Nina.

Argentina’s soybean crushers strike just as harvest gathers pace

01 May 2024  |  www.ajot.com
Workers in Argentine soy-processing plants have initiated a strike during the soy harvest season, protesting against income-tax and work-rule changes proposed in President Javier Milei's reform legislation. The strike, led by SOEA and joined by the Federation of Oilseed Industry Workers, has halted operations in the Parana port district of San Lorenzo and other districts, impacting major soy crushers like Cargill, Viterra, Cofco, Louis Dreyfus, and Bunge Global. The labor action comes as heavy rains have already delayed bean deliveries along the Parana River.

YPF Says Fire Sale to Free Up $800 Million for Shale Oil Push

04 Apr 2024  |  bnnbloomberg.ca
Argentina's largest oil and gas producer, YPF SA, is planning to divest from mature conventional fields to reallocate approximately $800 million in capital expenditures towards shale oil activities in the Vaca Muerta formation. The divestment plan, which was announced in early February, will be managed by a bank and is expected to start at the end of the month. YPF aims to increase its shale oil production by 24% year-on-year and is adding three drilling rigs in Vaca Muerta. The company is also considering a liquefaction export terminal project with Malaysia's Petroliam Nasional Bhd and is seeking new partners, with a final investment decision possible by mid-2025.

Acapulco Death Toll Rises as Otis Losses Seen at $15 Billion

04 Apr 2024  |  bnnbloomberg.ca
Hurricane Otis has caused significant destruction in Acapulco, Mexico, with the death toll currently at 43 and 36 people still missing. Mexican President Andres Manuel Lopez Obrador (AMLO) announced that he would be visiting Acapulco to oversee the recovery efforts. The hurricane, which unexpectedly intensified to a Category Five, has caused an estimated $15 billion in damages. Efforts are underway to restore power, telecommunications, and transport links. AMLO has faced criticism for his handling of the situation but has defended his actions by stating his presence in Mexico City aids in better coordination of the response.

Argentina’s $16.1 Billion in YPF Fight Is Open to Collection (2)

04 Apr 2024  |  news.bloomberglaw.com
A US judge has ruled that investors can begin seizing assets from Argentina to collect a $16.1 billion court judgment. This judgment stems from Argentina's 2012 nationalization of the oil company YPF SA. The ruling is a setback for Argentina, which is currently appealing a September judgment by US District Judge Loretta Preska. This judgment is the largest ever ordered by the federal court in Manhattan. Argentina, which is experiencing significant economic challenges, including high inflation, has argued that the judgment represents nearly a fifth of its budget for 2023.

Death Notice and Service Information

04 Apr 2024  |  legacy.com
Hector N. Diaz, a 41-year-old resident of Newmarket, passed away on January 20, 2006, after a prolonged battle with cancer. Born in Puerto Rico and raised in New York City, Hector had been living in Newmarket for over sixteen years. He was the owner of Jumpgate: The Science Fiction/Fantasy Store in Portsmouth for nine years and had previously worked for the University of New Hampshire. Hector was also a comic book artist and writer, known for his educational workshops on comic creation. He is survived by his family, including his wife and two sons. A memorial service is scheduled for January 28, 2006, at the Community Church of Durham. Donations in his memory can be made to New Heights in Portsmouth.

Milei Set for Boost From Best Argentine Soy Crop Since 2019

04 Apr 2024  |  financialpost.com
Argentina is expected to produce a soybean crop of 52 million metric tons, the best in five seasons, thanks to El Nino rains. This forecast by the Rosario Board of Trade marks a significant increase from previous estimates and is a welcome change after years of drought. The improved crop prospects could have a substantial impact on Argentina's economy, as soybean exports are a major source of revenue. The new President, Javier Milei, could benefit from the increased export income as he faces the challenge of turning around the country's economic crisis. Additionally, Argentina faces a US court ruling to pay $16.1 billion, which could affect its sovereign assets. The article also notes that Argentina's corn estimate has been raised, potentially leading to a record crop. Canada-based EarthDaily supports the soy forecast with similar estimates.

Argentine President Plans to Nationalize Bankrupt Soy Giant Vicentin

04 Apr 2024  |  financialpost.com
Argentine President Alberto Fernandez has announced plans to nationalize Vicentin SAIC, the country's largest exporter of processed soybeans, which filed for bankruptcy last year. The government will seek congressional approval for the expropriation, aiming to support Argentina's economy and control a significant player in the grain and foreign exchange markets. Gabriel Delgado will lead the intervention, with Vicentin's assets to be managed by the agriculture department of state-run YPF SA. The move is controversial as it occurs amidst Argentina's $65 billion debt restructuring negotiations and echoes the 2012 nationalization of YPF under former President Cristina Fernandez de Kirchner. Vicentin owes a substantial debt to the state-run Banco Nacion, and the expropriation plan comes as a surprise to company executives who were in discussions with Glencore Plc and others.

Creditors Allege Argentine Soy Giant Siphoned $400 Million (1)

04 Apr 2024  |  news.bloomberglaw.com
Banks including Rabobank, Credit Agricole, ING, and the International Finance Corp. are seeking further documents from the bankrupt Argentine soy-exporter Vicentin SAIC. They have requested a New York judge to subpoena additional records, suspecting they might be victims of a significant financial misconduct. The banks, which are collectively owed $500 million, are looking for detailed wire transfer records from Vicentin and its related entities, as well as transactions made by company executives and members of the founding families. The request for more information is part of ongoing legal proceedings dated June 29.

Milei Set for Boost From Best Argentine Soy Crop Since 2019

04 Apr 2024  |  winnipegsun.com
Argentina is expected to produce a soybean crop of 52 million metric tons, the best in five seasons, thanks to El Nino rains. This increase is a significant rebound from previous years of drought and is set to impact futures trading and the economic strategies of President Javier Milei. The Rosario Board of Trade has raised its forecast by 4% from December, and the increase in production is crucial as soybean exports are a major source of revenue for Argentina. Additionally, the country faces a US court ruling to pay $16.1 billion, which could affect its sovereign assets. The Rosario analysts have also increased their corn estimate to a potential record crop of 59 million tons. These agricultural forecasts align with those from EarthDaily, a Canada-based satellite analytics firm.

Milei sets up Aerolineas and YPF for privatization in Argentina

04 Apr 2024  |  thederrick.com
Barcelona's coach, Xavi Hernández, is bracing for a wave of criticism following the team's significant 4-1 loss to Real Madrid in the Spanish Super Cup final held in Saudi Arabia. Xavi acknowledges the defeat as a substantial setback for Barcelona and suggests that the best course of action is to accept the criticism and focus on competing for the remaining titles of the season.

Argentina's President Milei Starts Privatization with State-Run Companies Decree

04 Apr 2024  |  news.yahoo.com
Argentine President Javier Milei has initiated a major privatization effort with a decree that could lead to the sale of numerous state-controlled companies. Milei, a libertarian, aims to reduce government size and deregulate the economy to address Argentina's recurring economic crises. He specifically mentioned the potential privatization of Aerolineas Argentinas SA and other key sectors such as rail, media, water, sewage, and energy companies, including YPF SA and Enarsa. Milei's plan faces potential opposition in congress, where his party is in the minority. The privatization strategy echoes the policies of former President Carlos Menem from the 1990s. YPF, which has been a key player in developing Argentina's shale resources, has seen its New York-listed shares trade lower than when it was nationalized in 2012, despite a recent uptick following Milei's electoral victory.

US green fuel push threatens Argentina’s main export market

14 Mar 2024  |  batimes.com.ar
The US's move towards green diesel, utilizing soybean oil, threatens Argentina's primary export market for soybean meal. The resulting excess meal in the US is expected to lower global prices, impacting Argentina's economy and its farmers. Argentina has been a leading meal trader for over three decades, but now faces competition from both the US and Brazil. The Biden administration's subsidies for green energy are causing shifts in agricultural markets, and Argentina's export tariffs, currency valuation, and crop issues have already weakened its competitive position. US soybean processors are expanding capacity, which could force some Argentine plants to close. Despite these challenges, companies like Bunge remain committed to their Argentine operations.

Burford Seeks Argentina’s YPF Stake to Pay $16 Billion Award

15 Jan 2024  |  Yahoo Entertainment
Burford Capital has requested a US judge to grant it control of Argentine state oil company YPF SA to collect on a $16 billion court judgment against Argentina. The motion, filed in New York, seeks the 51% stake in YPF held by Argentina's federal and provincial governments. The case stems from Argentina's 2012 seizure of YPF, which violated company by-laws. Despite the judgment, Argentina is appealing and has not posted security, leading to immediate collection efforts. Burford, having invested $16.6 million, could gain $6.2 billion if the judgment is fully paid.

Argentina Loses Bid to Delay $16 Billion Asset Seizure Over YPF

11 Jan 2024  |  bnnbloomberg.ca
A US judge has ruled against Argentina's attempt to delay collection efforts on a $16.1 billion court judgment related to the 2012 nationalization of oil company YPF SA. The judgment, in favor of litigation funder Burford Capital, represents a significant financial burden for Argentina, amounting to nearly one-fifth of its 2023 budget. Burford Capital, which financed the lawsuit for former YPF shareholders, could see a 37,000% return on its investment if the judgment is collected. However, collecting the judgment may prove challenging due to US laws that protect sovereign assets. The case stems from Argentina's takeover of YPF, where it failed to make a tender offer to all shareholders, violating a company bylaw. The ruling allows Burford to begin pursuing Argentina's assets to satisfy the judgment.

Best Argentine Soy Crop in Five Years Set to Be Boon for Milei

01 Jan 2024  |  bnnbloomberg.ca
Argentina is expected to produce a soybean crop of 52 million metric tons, the best in five years, thanks to El Nino rains. This forecast by the Rosario Board of Trade marks a significant increase from previous estimates and is a potential boon for the new President Javier Milei, as soy exports are a major source of revenue for Argentina. The improved crop prospects come at a crucial time as Argentina faces a US court ruling to pay $16.1 billion, which could impact the country's economy. The Rosario Board of Trade also increased its corn estimate to a potential record crop of 59 million tons. These developments could influence futures trading and Argentina's position in global agricultural markets.

Argentina Pushes to Get Out of Farming Time Warp With Better GMO Seeds

01 Jan 2024  |  bnnbloomberg.ca
Argentina is updating its seed technology regulations, which have remained unchanged since the 1970s, to allow companies like Syngenta, Corteva, and Bayer to charge royalties for patented seeds. This move, part of President Javier Milei's economic reforms, aims to boost investment and improve access to modern GMO seeds, potentially increasing agricultural productivity. Argentina's outdated laws have left it behind competitors like Brazil and the US, with Argentine soybean yields 17% lower. The reform faces opposition in congress, where Milei's party is a minority. The article also mentions the decline in Argentina's agriculture due to heavy taxation and export interference, and the previous unsuccessful attempts to charge for seeds. Bayer's withdrawal from the Argentine soy seed market in 2021 is also noted.

Enel Suspends Sale of Argentina’s Edesur Amid Milei Optimism

01 Jan 2024  |  Yahoo Entertainment
Italian energy giant Enel has suspended the sale of its Argentine subsidiary Edesur, driven by optimism surrounding President Javier Milei's deregulation efforts. Enel executives, including CEO Flavio Cattaneo, met with Argentine officials to discuss the potential benefits of Milei's economic policies, which aim to remove subsidies and price controls. This strategic pivot comes as Argentina's senate voted to overturn Milei's deregulation decree, pending a lower house vote. Enel's decision reflects a broader confidence in Milei's pro-market approach, despite legislative challenges.

Argentine President Proposes Oil Industry Deregulation

30 Dec 2023  |  energyconnects.com
Argentine President Javier Milei has introduced legislation aimed at deregulating the country's oil industry, which includes freeing crude exports and allowing local fuel prices to be determined by market forces. The bill proposes to eliminate outdated rules that prioritize domestic fuel affordability and government intervention in pricing. This move could benefit oil companies like YPF SA, Chevron Corp., Shell Plc, and Vista Energy by allowing them to capitalize on investments in the Vaca Muerta shale region. Milei's plan faces potential opposition in congress, where his party is in the minority. In the meantime, the government will informally liberalize the oil market by ceasing to mediate between producers and refiners, letting them independently set prices. Gasoline prices in Argentina have surged since Milei's election, but remain among the lowest globally.

Cristina Fernández de Kirchner and Javier Milei in the Presidential Palace.

28 Dec 2023  |  stripes.com
Argentine President Javier Milei has introduced legislation aimed at deregulating the country's oil industry, which includes freeing crude exports and allowing fuel prices to be determined by market forces. The bill proposes to eliminate regulations from the 1960s that ensure domestic fuel affordability and allow government intervention in pricing. This move could benefit oil companies like YPF SA, Chevron Corp., Shell Plc, and Vista Energy by removing restrictions that have limited shale investments in the Vaca Muerta region. Milei's proposal is expected to face strong opposition in congress, where his party is in the minority. In the meantime, the government plans to informally liberalize oil markets by ceasing to mediate between oil producers and refiners. Since Milei's election, gasoline prices in Argentina have surged, yet they remain among the cheapest globally.

President Javier Milei Initiates Privatization of Argentine State Companies

21 Dec 2023  |  energyconnects.com
Argentine President Javier Milei has initiated a major privatization effort, targeting numerous state-controlled companies for sale, including Aerolineas Argentinas SA and YPF SA. Milei, a libertarian, aims to reduce government size and deregulate the economy to address Argentina's recurring economic crises. He announced reforms to facilitate the privatization process and plans to transition energy companies like YPF and Enarsa to private ownership. Despite the potential for privatization through presidential decree, Milei faces opposition in a congress where his party is in the minority. The privatization strategy echoes that of former President Carlos Menem in the 1990s. YPF, which has been developing Argentina's shale resources, is particularly challenging to privatize due to legal requirements for a two-thirds congressional majority for the sale of government shares.

Argentina's Bumper Wheat and Barley Crops Provide Economic Relief

18 Nov 2023  |  batimes.com.ar
Argentina is expecting a significant economic boost from its wheat and barley exports, which are projected to be worth US$4.9 billion, a 16% increase from the previous season and a record high in six years according to the Buenos Aires Grain Exchange. The timing of these exports is critical as it will assist the Central Bank in managing the peso during the summer. The inflow of dollars is essential for the country, which is currently facing high inflation, low foreign reserves, and significant debt payments. Despite potential yield reductions due to heat waves, the wheat crop is anticipated to reach a record 19.8 million metric tons.

Banks Seek More Documents From Bankrupt Vicentin, Citing Possible Financial Impropriety

29 Jun 2023  |  batimes.com.ar
Banks including Rabobank, Credit Agricole, ING, and the International Finance Corp. are seeking further documents from Vicentin SAIC, an Argentine soy-export company that declared bankruptcy. The banks, owed US$500 million, suspect Vicentin of financial impropriety, involving about US$400 million potentially siphoned to sister companies. The discovery process, initiated in February, has revealed some financial discrepancies, prompting the banks to request additional information from Vicentin, its executives, and related companies. Vicentin denies any wrongdoing, attributing its financial collapse to market disruptions following the 2019 Argentine primary elections. The Argentine government's plan to nationalize Vicentin is currently on hold, with President Alberto Fernández considering alternatives after facing resistance. The New York court's decision on the document subpoena could influence the company's future and the government's expropriation plans.

Argentina, Brazil in Talks to Release Dam Water for Crops

07 Apr 2023  |  batimes.com.ar
Argentina and Brazil are negotiating the release of water from the Itaipú Dam to replenish the Paraná River, which is crucial for Argentina's US$20-billion-a-year crop export business. The Paraná River is experiencing its lowest levels since 1989 due to a drought, affecting soybean exports. Brazil, which relies on Itaipú for 11% of its energy, has a history of releasing water to assist Argentina. However, tensions between the countries' leaders over COVID-19 responses and the potential impact on Brazil's energy supply complicate the situation. Technical staff and engineers at Itaipú will be influential in the decision-making process. The low water levels are already causing logistical and financial issues for exporters, with additional costs incurred from necessary dredging by Jan de Nul and adjustments to shipping capacities.

Argentine Fighter Wins $1 Million in NYC, Vows Not to Bring Money Home

07 Apr 2023  |  batimes.com.ar
Emiliano 'He-Man' Sordi, an Argentine martial artist, won a US$1 million prize in New York after claiming the Professional Fighters League's light heavyweight title. Sordi expressed his intention to keep his winnings in the United States due to Argentina's history of economic instability, high taxes, and currency devaluation. Many Argentines have lost savings in past crises, leading to a common practice of keeping money abroad. Mariano Sardans, a wealth management expert, suggested that Sordi might still have to bring the money to Argentina and face financial losses. President Alberto Fernández has implemented measures to control capital flight and increase fiscal revenue, which Sordi criticized as socialism with other people's money.

Argentina Revamps Decades-Old Seed Laws to Boost Crop Yields

05 Apr 2023  |  batimes.com.ar
Argentina is updating its seed technology laws from the 1970s to allow companies like Syngenta, Corteva, and Bayer to charge royalties, aligning with practices in Brazil and the US. This change, part of President Javier Milei's economic reforms, aims to attract investment and provide access to advanced genetically modified seeds. Argentina's outdated laws have led to lower crop yields compared to its competitors. The reform could face resistance in congress, where Milei's party is a minority. The agriculture industry has suffered due to heavy taxation and export interference by previous governments. The new legislation would also sign Argentina onto a global convention protecting seed breeders' intellectual property rights. Bayer previously attempted to collect royalties in Argentina but withdrew from the soy seed market in 2021.

Argentines Urged to Go Meatless One Day a Week for Climate

05 Apr 2023  |  batimes.com.ar
The Argentine government, led by President Alberto Fernández, has initiated the 'Green Mondays' campaign through the Environment Ministry, urging citizens to abstain from eating beef one day a week to reduce greenhouse gas emissions from cattle ranching. This campaign is significant in Argentina, known for its high beef consumption and where such a proposal would have previously been unthinkable. The Argentine Rural Society has expressed opposition, citing beef as a symbol of national identity. Economic challenges have already led to a decrease in beef consumption in Argentina, with current figures showing a drop to 49 kilograms per capita, a significant decline from the 2009 peak of 70 kilograms.

Argentina Eyes Modern Seed Laws to Boost Crop Yields and Compete Globally

05 Apr 2023  |  news.agropages.com
Argentina is planning to update its seed technology laws from the 1970s to allow companies like Syngenta, Corteva, and Bayer to charge royalties, aligning with practices in Brazil and the US. This change, part of President Javier Milei's economic reforms, aims to attract investment and provide access to advanced genetically modified seeds. Argentina's outdated laws have led to lower crop yields compared to its competitors. The reform is expected to face resistance in congress, where Milei's party is in the minority. The agriculture industry has suffered due to heavy taxation and export interference by previous governments. The article also mentions that Bayer ceased its Argentine soy seed operations in 2021 due to a strategic shift.

Argentine Farmers Battle Silobag-Slashing Vandals Amid Political Strife

05 Apr 2023  |  batimes.com.ar
In Argentina, farmers are facing a surge in vandalism as over 150 silobags, used for storing soybeans, have been slashed, rendering the contents worthless. This spike in attacks is believed by some to be politically motivated, linked to tensions between the Peronist government and wealthy farmers. The government denies such claims. In response to the vandalism, a pilot project in Córdoba, a major soybean-producing province, is testing alarm systems for silobags. Three companies have collaborated to create these alarms, with trials soon to begin. The situation reflects broader economic challenges in Argentina, where soybean hoarding is a response to currency devaluation and interventionist policies. The Buenos Aires Grain Exchange estimates soy exports at US$16.9 billion this year, highlighting the crop's significance to the economy.

Argentina Drops Plan to Intervene in Vicentin Bankruptcy After Backlash

05 Apr 2023  |  batimes.com.ar
The Argentine government has reversed its decision to intervene in the bankruptcy of Vicentin SAIC, the country's largest soy processor. President Alberto Fernández announced on Twitter that the government would not take on Vicentin's private debt, citing the management's 'irresponsible' decisions. The intervention plan, initially decreed on June 9, was halted because the bankruptcy judge did not allow the replacement of current management with government officials. Despite the court granting Vicentin an extension to present its financial statement, the government faced strong opposition from the agriculture industry and citizens, leading to the consideration of other solutions. Santa Fe Province's intervention efforts are expected to be ineffective, returning the bankruptcy process to a mediation between Vicentin and its creditors. Vicentin owes approximately $1.4 billion and is pleased to return to a normal bankruptcy process without government interference.

Argentina Soy Crop Seen Reaching Five-Year High on El Nino Rains

05 Apr 2023  |  leaderpost.com
Argentina is expected to produce a soybean crop of 52 million metric tons, the best in five seasons, thanks to El Nino rains. This marks a significant increase from previous years affected by drought. The Rosario Board of Trade has raised its forecast by 4% since December. The improved crop prospects could impact futures trading and are crucial for Argentina's economy, as soybean exports are a major revenue source. The new President, Javier Milei, faces economic challenges and a US court ruling that orders Argentina to pay $16.1 billion. The Rosario Board of Trade also increased its corn estimate to a potential record crop of 59 million tons. Canada-based EarthDaily supports these findings with similar estimates.

Argentina's Farmers Battle Government Over Debt Proposal Tied to Exports

05 Apr 2023  |  batimes.com.ar
Argentina's government, under Economy Minister Martín Guzmán, is negotiating the restructuring of US$65 billion in foreign debt and has proposed a debt sweetener linked to the country's agricultural exports. This proposal has alarmed Argentine farmers, who fear that it would result in the indefinite imposition of export taxes, which they oppose. The farmers argue that such a measure would prevent tax relief in times of price drops or weather disasters, and could hinder investment in crop production. The tension between the government and the farm industry is escalating, especially after President Alberto Fernández increased export taxes and the central bank took measures to encourage soy sales. The government's intervention in the bankrupt soybean processor Vicentin SAIC has also raised concerns among farmers about potential market disruptions.

Diego Maradona, Argentine Soccer Great, Dies at 60

05 Apr 2023  |  macaudailytimes.com.mo
Diego Maradona, the legendary Argentine soccer player, has died at the age of 60 due to a heart attack. Maradona recently underwent surgery to remove a blood clot from his brain. He is celebrated for leading Argentina to victory in the 1986 World Cup and achieving league championships in Italy with Napoli and in Argentina. Maradona's career was marked by his extraordinary talent on the field and his struggles with addiction off it. His life mirrored the tumultuous history of Argentina, with his personal battles reflecting the nation's own challenges. Despite controversies, including a ban for cocaine use and financial issues, Maradona remained a beloved figure in Argentina and the world of soccer. He is remembered for his 'Hand of God' goal and the 'Goal of the Century' against England in the 1986 World Cup. Post-retirement, Maradona had stints as a TV host and a coach, and he was politically active, supporting leftist movements in Latin America.

Argentina’s Discount Airline Boom Faces Uncertainty With New President

05 Apr 2023  |  batimes.com.ar
Argentina's airline industry, which has recently seen a surge in discount airlines such as Flybondi, Norwegian Air Shuttle ASA, and JetSmart, is facing uncertainty with the election of president-elect Alberto Fernández. Fernández has indicated a desire to strengthen the state-controlled Aerolíneas Argentinas, contrasting with outgoing President Mauricio Macri's policies that encouraged competition and growth in the sector. The article discusses the potential impact of Fernández's presidency on the aviation market, including the challenges faced by discount airlines due to high inflation and currency devaluation. It also touches on the subsidies required by Aerolíneas Argentinas and the strategies low-cost carriers are adopting to mitigate risks, such as expanding routes to Brazil.

Milei’s Presidency Sets Stage for Wheat Boom in Argentina

04 Apr 2023  |  bnnbloomberg.ca
Javier Milei, the new president of Argentina, is expected to boost the country's wheat production by removing currency controls and agricultural export tariffs. Mariano D’Amore, a crop grower and board member of the Bahia Blanca Grain Exchange, predicts a potential 60% increase in wheat output for the next growing season. This follows a historical pattern seen under former President Mauricio Macri, who deregulated the wheat market and saw a significant rise in production. The anticipated policy changes by Milei's administration are likely to have a substantial impact on Argentina's agriculture, which makes up about 20% of its GDP. The changes could also affect global wheat prices, which have been declining due to large supplies from Russia. Economy Minister Luis Caputo is set to announce his first measures soon, which are expected to include a better exchange rate for commodity exports and a reduction in export taxes.

Argentina's President Signals Potential Export Taxes Amid Inflation Woes

03 Apr 2023  |  batimes.com.ar
Argentinian President Alberto Fernández has warned of potential tax hikes or export quotas on farmers as the country faces high inflation rates, projected to reach 47 percent. In an interview with Pagina/12, Fernández expressed concern over farmers selling food domestically at export prices, particularly citing beef exports to China, which have soared while local consumption has declined. The government, known for market interventions, had previously banned corn exports to protect domestic supply but retracted the decision after farmer protests. Fernández emphasized the need to separate international and domestic pricing to alleviate the economic pressure on Argentine families.

Milei Looks to Cut Costs for Argentina’s Miners in Broader Deregulation Push

30 Mar 2023  |  bnnbloomberg.ca
Argentinian President Javier Milei is initiating a deregulation campaign to boost investment in the country's mining sector, particularly for lithium and copper, which are in high demand due to the clean energy transition. Milei, who assumed office on December 10, aims to reduce bureaucratic hurdles by repealing two laws from the 1990s that require mining companies to submit extensive data to the government. He also intends to remove customs restrictions that were designed to retain some lithium production for local industry. While these measures are intended to attract more investment, they may encounter resistance in congress where Milei's party is not the majority. Additionally, Milei faces the challenge of lifting capital and currency controls in Argentina, which is rapidly growing as a producer of battery-grade lithium and is developing significant copper projects.

Diego Maradona, Argentine Soccer Genius Who Led Nation to 1986 World Cup, Dies at 60

30 Mar 2023  |  theprint.in
Diego Maradona, the legendary Argentine soccer player, has died at the age of 60 following a heart attack. Maradona was renowned for leading Argentina to victory in the 1986 World Cup and for his time with clubs such as Barcelona and Napoli. He was celebrated for his extraordinary talent on the field but also struggled with addiction and health issues throughout his life. Maradona's death is mourned worldwide, and he is remembered for his contributions to soccer and his complex, larger-than-life persona. His political views and personal struggles mirrored the tumultuous history of Argentina itself. Despite controversies, Maradona remained a beloved figure, and his legacy in the sport and beyond endures.

Fernández Faces Backlash Over Expropriation of Argentina's Agro-Exporter Vicentin

15 Mar 2023  |  batimes.com.ar
President Alberto Fernández of Argentina is facing widespread backlash after announcing the nationalisation of Vicentin SAIC, a major soy meal and oil exporter. Protests erupted in various cities, and the move has been criticized by opposition leaders, economists, and citizens, fearing it could hinder the country's debt negotiations and infringe on judicial independence. The government insists on proceeding with the expropriation despite the controversy. The decision has also revived memories of past government interventions in the private sector and could potentially damage Fernández's recently improved approval ratings. Vicentin's financial troubles were exacerbated by the anticipation of Fernández's election and the expected rise in export taxes, leading to a rush by farmers to secure contracts and ultimately the company's bankruptcy.

Temple feels the heat as Pennsylvania’s budget impasse continues

15 Mar 2023  |  temple-news.com
Pennsylvania is facing a budget crisis that is affecting state-related universities, including Temple University, which has not yet received its annual $175 million appropriation. Temple's CFO, Ken Kaiser, expressed concern over the impact of the missing funds on the university's programs and potential shift towards privatization. The university has taken a $100 million line of credit from PNC to maintain operations. Temple University Hospital could lose $20 million in federal dollars, affecting healthcare delivery. Student governments and university administrators, including Temple's President Theobald, are advocating for the budget's passage. State Rep. Matthew Bradford criticized the legislature for the budget impasse, while Rep. William Adolph did not respond. The budget crisis could lead to tuition increases, impacting students and enrollment. The article was written by Steve Bohnel and Jonathan Gilbert.

Scientists find one of the oldest stars in the universe in a galaxy right next to ours

01 Mar 2023  |  livescience.com
Scientists have discovered one of the oldest known stars outside the Milky Way in the Large Magellanic Cloud (LMC), a satellite galaxy of the Milky Way. This star, named LMC-119, is estimated to be at least 13 billion years old and offers insights into the early universe's conditions. The study, led by Anirudh Chiti from the University of Chicago, utilized data from the European Space Agency's Gaia space telescope and the Magellan telescope in Chile. The findings suggest differences in the chemical enrichment processes between the Milky Way and the LMC, providing a new perspective on stellar evolution and galactic history.

YPF SA Gains Key Creditor Support for Debt Restructuring Offer

08 Feb 2023  |  batimes.com.ar
Argentine state energy company YPF SA has secured the support of a major creditor group for its debt restructuring proposal after enhancing the offer with a better cash incentive. The YPF Ad Hoc Bondholder Group, which holds 45 percent of the bonds maturing on March 23, 2021, has signaled its acceptance following the improved terms. The deadline for accepting the deal has been extended to February 10. This support is crucial for YPF to avoid default, as it requires the backing of over 50 percent of bondholders for the exchange. The company's restructuring efforts come amid liquidity issues and the Central Bank's refusal to provide the dollars needed for a March payment. The restructuring is aimed at reallocating funds to boost production in the Vaca Muerta shale formation.

Argentina’s Plan to Issue Debt Meets Investor Skepticism

30 Jan 2023  |  bnnbloomberg.ca
Argentina's President Javier Milei has proposed issuing a perpetual bond to settle a $16 billion lawsuit award from the nationalization of oil company YPF. Investors, however, are skeptical due to Argentina's history as a serial defaulter. The economy ministry has not provided details about the plan. A US judge has set deadlines for Argentina to seek expedited treatment from an appeals court and to pledge assets. The country is also dealing with a $44 billion deal with the IMF and owes payments on $65 billion of restructured sovereign debt. The idea of a 'Kicillof tax' was mentioned by Milei to cover the interest on the perpetual bonds, named after Buenos Aires Governor Axel Kicillof, who was involved in the nationalization of YPF without a tender offer to shareholders. Argentina's lack of dollars and the political cost of meeting obligations are major concerns for the country's economic stability.

President Milei Seeks to Overhaul Argentine Oil Industry with New Legislation

25 Jan 2023  |  batimes.com.ar
Argentine President Javier Milei has introduced legislation aimed at deregulating the nation's oil industry, a significant shift from decades of government control. The bill proposes to free up crude exports and allow fuel prices to be determined by market forces, removing the government's ability to intervene in pricing. This move is part of Milei's broader agenda to liberalize Argentina's economy. The legislation specifically targets outdated rules that have hindered the development of the Vaca Muerta shale formation. Major oil companies like YPF SA, Chevron Corp, Shell Plc, and Vista Energy stand to benefit from these changes. However, the bill is expected to encounter strong resistance in Congress, where Milei's party is in the minority. In the meantime, Milei's government plans to informally liberalize the oil market by ceasing to mediate between producers and refiners, allowing them to set prices independently.

YPF’s Debt Woes Expose Broader Problems in Argentina

15 Jan 2023  |  batimes.com.ar
YPF SA, the Argentine state-run energy company, is facing a significant financial crisis, exacerbated by the COVID-19 pandemic and historical economic challenges in Argentina. The company issued a press release announcing a debt restructuring plan that implies potential losses for creditors, causing its bonds to plummet in value. Creditors, including BlackRock Inc and Oaktree Capital Group, are preparing for tough negotiations after Argentina's third sovereign default this century. The Central Bank of Argentina has exacerbated YPF's problems by limiting its access to dollars needed to pay upcoming debts. YPF's financial decline has been ongoing since its re-nationalization in 2012, with policies that have led to decreased investment and falling oil and gas production. The company is now seeking to restructure $6.2 billion of bonds to free up capital for investment in the Vaca Muerta shale formation. The situation reflects broader issues with foreign currency scarcity in Argentina and raises concerns about the country's ability to meet corporate foreign debt obligations.

Argentine Farmers Battle Export Hurdles as Key Soy River Needs Dredging

30 Apr 2021  |  gcaptain.com
The article discusses the urgent need for dredging the Parana River in Argentina, a crucial waterway for the transportation of soy and other crops. The current contract held by Jan de Nul and Emepa is expiring, and despite the government's last-minute extension of 90 days, there is no clear plan for the tender process. The death of Transport Minister Mario Meoni has added to the uncertainty. The dredging contract is valued at around $200 million a year, with industry groups recommending a 15-year contract, implying significant revenue for the winner. Agricultural exporters are concerned about the situation, as the Parana River is essential for over $20 billion a year in exports. Companies such as Bunge Ltd., Cargill Inc., and Glencore Plc are members of Ciara-Cec, an Argentine crop export and processing group. Potential bidders for the new contract include Jan de Nul, Shanghai Dredging Company's local unit Servimagnus, Belgium's DEME, and Dutch companies Van Oord and Boskalis.

Argentina’s state-run shale driller faces debt deadline

03 Feb 2021  |  worldoil.com
Argentina's state-run oil company, YPF SA, is facing a debt restructuring challenge as it approaches a deadline for bondholders to accept its $6.2 billion debt swap proposal. The YPF Ad Hoc Bondholder Group, advised by Clifford Chance LLP and holding 45% of the bonds due in March, rejected the offer, while another group, represented by Dechert LLP and DLA Piper, supported the improved terms. YPF amended its offer to include a larger upfront cash payment to attract more support. The restructuring aims to free up cash for YPF to increase production in the Vaca Muerta shale region after Argentina's central bank refused to provide the dollars needed for a $413 million bond payment. The company's U.S.-traded shares dropped, and its 2021 bonds saw minimal change.

Candle marches, football matches, high emotions — Buenos Aires mourns its ‘God’ Maradona

27 Nov 2020  |  theprint.in
The article discusses the public's reaction in Argentina to the death of soccer legend Diego Maradona, highlighting the large crowds that gathered to pay their respects despite the ongoing Covid-19 pandemic. The government's decision to allow a mass gathering for Maradona's wake at the presidential palace, Casa Rosada, is contrasted with the strict lockdown measures that had been in place for eight months. The wake drew criticism from opposition politicians, especially since the government has not yet presented a comprehensive plan for reopening schools. The article also touches on Argentina's struggle with the pandemic, mentioning its high positivity rates and its ranking in Bloomberg’s Covid Resilience Ranking. Personal anecdotes from Argentines who visited the wake are included to illustrate the emotional impact of Maradona's death on the nation.

Diego Maradona, football icon who led Argentina to glory, dies at 60

25 Nov 2020  |  business-standard.com
Diego Maradona, the legendary Argentine soccer player, has passed away at the age of 60 due to a heart attack in Tigre, Buenos Aires. This occurred after he had surgery to remove a blood clot from his brain. Maradona was celebrated for leading Argentina to victory in the 1986 World Cup and for his successful club career in Italy and Argentina. His death is reported by the Clarin newspaper, and his iconic status in Argentina is likened to that of a war hero.

South America's Pantanal, the world's largest wetland, is burning at a record pace

29 Aug 2020  |  theprint.in
The article discusses the severe wildfires affecting South America's Pantanal wetlands, which span Brazil, Bolivia, and Paraguay. It highlights the record pace of fires in 2020, exacerbated by drought and commercial farming practices. The fires have devastated habitats, including a sanctuary for blue macaws in Brazil. The Brazilian Spacial Research Institute (Inpe) reported the highest number of fires for July since 1998, with the trend continuing into August. Argentina's Deputy Environment Minister Sergio Federovisky likened the situation to the Amazon fires of the previous year. The Pantanal, recognized by Unesco, is suffering from reduced humidity currents and a decrease in seasonal rains due to climate change, according to Ivan Bergier from Embrapa. The article also notes a study showing a decrease in rainy days and an increase in land used for livestock and crops, contributing to the region's vulnerability to fires.

Argentina’s push to ramp up agriculture exports is moving to a new frontier: micro-chipped cows.

04 Sep 2017  |  independent.co.uk
Argentina is advancing its agricultural sector by introducing micro-chipped cows to enhance traceability and meet stringent import requirements of countries like the US and Asia. Jorge Dillon, president of Senasa, highlighted that this technology would reduce errors associated with manual tracking and paperwork. The initiative is part of President Mauricio Macri's broader strategy to revive the economy by focusing on the beef sector, which had suffered under the previous administration's protectionist policies. While negotiations with the US to resume beef exports are ongoing, the microchip system will be voluntary due to the associated costs for small-scale farmers. US inspectors have requested additional information on sanitary controls, and if satisfied, approval for exports could be near.

The Paraguayan Treasure Fever: 'Everyone Who Knows It Exists Is After It'

08 Apr 2017  |  nytimes.com
In Paraguay, a legend has persisted for generations about buried treasures known as plata yvygüy, believed to be hidden by the government and elite of Asunción during the Triple Alliance War 150 years ago. The treasures, including gold bars, British pound coins, and decorative gold pineapples, have captivated people from all walks of life, including army officials, mayors, and laborers. Full-time treasure hunter Juan Alberto Díaz, among others, is actively pursuing these riches, which are said to be scattered across the country.

Where’s the chicken? World’s biggest poultry importers may face shortage

23 Mar 2017  |  livemint.com
Brazil, the world's leading poultry exporter, is facing a food-safety scandal involving major meat companies like BRF SA and JBS SA, which are accused of bribing federal inspectors to approve tainted meat sales. This has led to international trade restrictions from countries such as China, South Africa, and Mexico. Concurrently, avian influenza outbreaks in the US are affecting the second-largest chicken exporter, leading to further restrictions by countries like South Korea. The combined effect of these issues is creating a significant gap in the global chicken trade, which smaller producers like Argentina's Cresta Roja hope to fill. However, the scale of production from smaller exporters may not match the demand. Some countries have started to reverse restrictions, recognizing the need for Brazilian chicken imports to maintain supply.

After Centuries of Loss, Seeds of Hope for Argentina’s Indigenous People

12 Sep 2016  |  nytimes.com
The article discusses the historical and ongoing grievances of indigenous people in Argentina, highlighting that no Argentine president has made significant efforts to address the harm inflicted upon them since the Spanish conquest. The damage includes forced labor and the use of indigenous people as currency in business transactions. The article also touches on the 19th-century resistance by native tribes and the Conquest of the Desert campaign led by General Julio Argentino Roca, who is now being reassessed by some as a genocidal figure rather than a national hero. This reassessment has sparked debates and actions such as renaming streets and removing statues and images of Roca. The conservative newspaper La Nación has published an editorial defending Roca, indicating a lack of consensus on how to address the past and present issues faced by indigenous communities.

Ex-Military Officers Convicted of Human Rights Crimes During Argentina Dictatorship

26 Aug 2016  |  nytimes.com
Argentina has been recognized by human rights groups for its progress in bringing those responsible for dictatorship-era crimes to justice. The country has conducted numerous trials, resulting in over 600 convictions. A recent landmark trial, which took nearly four years and involved 716 victims, was notable for addressing crimes committed by death squads before the 1976 military coup. This trial concluded this year, marking a significant step in Argentina's judicial efforts. Human rights advocates have called for faster trials, although some defendants have died during the process. The article also highlights the case of Sonia Torres, who seeks to find her grandchild, stolen during the dictatorship after her daughter was kidnapped and gave birth in captivity. An estimated 500 babies were taken during this period, and a human rights organization has aided 120 in discovering their true identities.

On Argentina Plains, Hunters Feel Besieged by Critics ‘Made of Asphalt’

26 Aug 2016  |  www.nytimes.com
In Utracán, Argentina, a tradition of boar hunting is under threat as animal rights activists gain influence and challenge the practice. Hunters like Daniel Briguez, who once were seen as heroes, now feel marginalized. The conflict mirrors wider debates over hunting in the Americas and beyond, with groups such as the Association of Officials and Lawyers for Animal Rights taking legal action to suspend hunting tournaments.

Judge Reopens Complaint Against Argentine Ex

09 Aug 2016  |  www.nytimes.com
A federal judge in Argentina has reopened a criminal complaint against former President Cristina Fernández de Kirchner, who is accused of conspiring to obstruct an investigation into the 1994 bombing of a Jewish center that killed 85 people. The complaint, originally filed by the late prosecutor Alberto Nisman, alleges that Kirchner and former foreign minister Héctor Timerman engaged in secret negotiations to protect Iranian officials implicated in the attack in exchange for favorable trade deals. The decision to revive the case follows a request from the families of two victims.

Argentine Government Arouses Fury

07 Aug 2016  |  www.nytimes.com
Argentina is grappling with a series of corruption scandals involving former officials from Cristina Fernández de Kirchner's administration, including a former minister caught with $9 million in cash and luxury watches. The scandals have sparked national outrage, reminiscent of the corruption accusations during Carlos Saúl Menem's presidency. The allegations cast a shadow over the achievements of Kirchner's political party, the Front for Victory. Public trust is further eroded by ongoing investigations into President Mauricio Macri's offshore business activities and ethical concerns surrounding his energy minister, Juan José Aranguren.

Fathers of 1994 Bombing Victims in Argentina Keep Pushing for Justice

02 Aug 2016  |  www.nytimes.com
Relatives of victims from the 1994 Jewish center bombing in Buenos Aires are pushing to reopen a criminal complaint against former President Cristina Fernández de Kirchner. They accuse her of attempting to derail the investigation into the attack, which killed 85 people. The complaint, initially filed by the late federal prosecutor Alberto Nisman, alleges that Kirchner and her former foreign minister, Héctor Timerman, engaged in secret negotiations with Iran to protect Iranian officials implicated in the bombing in exchange for favorable trade deals. Nisman's mysterious death has further complicated the case.

Writer Looks to Soccer Field for Peaks and Valleys of Argentine Life

25 Jun 2016  |  nytimes.com
The article discusses the career of Eduardo Sacheri, a 48-year-old Argentine author and scriptwriter who has gained prominence in recent years. Sacheri is recognized for his contributions to cinema, including his work on a movie that won an Oscar for best foreign-language film in 2010. He has also been credited with reviving the soccer story as a literary genre, using the sport to reflect on Argentine culture. The article recounts Sacheri's humble beginnings and his surprise at his own success, including his excitement at first hearing his name on the radio. Cultural commentator Cristina Mucci acknowledges Sacheri's ability to resonate with a mass audience, and the article notes his rise to international fame, expanding the reach of Argentine fiction.

Havanna, a Confectioner, Has Argentina’s First Local I.P.O. in 6 Years

07 Jun 2016  |  www.nytimes.com
Havanna, an Argentine confectioner, raised $11.47 million in the country's first local IPO in nearly six years, signaling a positive step towards Argentina's reintegration into capital markets under President Mauricio Macri. The company, known for its alfajores and coffee shops, sold shares at the top of the marketed range due to high demand, with 17 percent of orders coming from international investors. The successful offering by Havanna, managed by brokerage firm Puente, is expected to lead more companies to the Buenos Aires Stock Exchange, following Grupo Supervielle's recent $280 million IPO. The government's economic reforms aim to stimulate growth and control inflation, with the sustainability of financial market interest depending on macroeconomic developments.

Amid Clashing Styles and Unsatisfying Results, Argentina Tries to Put Best Foot Forward

06 Jun 2016  |  www.nytimes.com
Argentina's national soccer team faces uncertainty as it heads into the Copa América Centenario, with recent near misses and debates over playing style casting doubt on its prospects. The team, featuring stars like Lionel Messi and Gonzalo Higuaín, risks wasting a generation of offensive talent if it fails to perform. The article highlights the team's struggles and the pressure to succeed in the tournament.

A deadly legacy of Latin America dictatorships

29 May 2016  |  thehindu.com
A four-judge panel in Argentina convicted and sentenced 14 former military officers for their involvement in Operation Condor, a campaign of kidnappings, torture, and killings during the military dictatorships of the 1970s and '80s. This marked the first time a court in South America acknowledged a region-wide criminal conspiracy among the leaders of Argentina, Bolivia, Brazil, Chile, Paraguay, and Uruguay against their opponents. The trial, which lasted three years and involved over 100 victims, resulted in prison sentences ranging from eight to 25 years. The chief prosecutor, Pablo Ouviña, highlighted the significance of Operation Condor. Despite some defendants dying during the trial, the convictions were seen as a step towards justice. The article also touches on the broader context of human rights trials in South America and the potential impact of the declassification of U.S. records on Argentina's 'dirty war'. Concerns about the commitment of Argentina's new government under President Mauricio Macri to continue supporting these investigations are mentioned, though Macri has affirmed they will remain part of his human-rights agenda.

Argentine Court Confirms a Deadly Legacy of Dictatorships

29 May 2016  |  www.nytimes.com
On June 12, 1980, Noemí Gianotti de Molfino was kidnapped and killed as part of Operation Condor, a collaboration among South American military governments to eliminate leftist dissidents. A recent trial in Argentina, lasting three years and involving over 100 victims, resulted in the conviction of 14 former military officers for their roles in the operation, marking the first legal acknowledgment of a regionwide criminal conspiracy by the military dictatorships of Argentina, Bolivia, Brazil, Chile, Paraguay, and Uruguay during the 1970s and '80s. The Center for Legal and Social Studies, along with victims' relatives, participated in the case, leading to a legal truth that corroborates historical accounts.

Cristina Fernández de Kirchner, Ex-Argentine President, Indicted on Financial Charge

14 May 2016  |  nytimes.com
Former Argentine President Cristina Fernández de Kirchner has been indicted by Judge Claudio Bonadio on charges of manipulating the Central Bank of Argentina. The indictment alleges that Kirchner and other officials were involved in contracts to sell the Central Bank's dollars at below-market rates to support the Argentine peso during her presidency. The judge stated that such a significant financial operation must have had the explicit approval of top government officials. The investigation will continue to determine whether the case will proceed to trial or be dismissed, and Kirchner has the option to appeal her indictment.

Argentine President, Indicted on Financial Charge

14 May 2016  |  www.nytimes.com
Former Argentine President Cristina Fernández de Kirchner, along with other officials, has been indicted by Judge Claudio Bonadio for allegedly manipulating the nation's Central Bank to benefit the Argentine peso during her administration. The case, which has been criticized by Kirchner's supporters as politically motivated, also involves her former economy minister Axel Kicillof and the former head of the Central Bank, Alejandro Vanoli. The indictment has revived Kirchner's political activities, with her claiming that the current government is using the judiciary to tarnish her reputation and distract from its own policies.

Dollar Debt Dispute With Hedge Funds

25 Apr 2016  |  www.nytimes.com
In early December, a significant meeting took place at the Waldorf Astoria hotel in Manhattan between Argentine politician Luis Caputo and hedge fund executives Jonathan Pollock and Jay Newman from Elliott Management. This meeting marked the beginning of a resolution to a decade-long legal battle over Argentina's debt. The successful negotiation led to Argentina selling $16.5 billion in bonds to international investors, allowing the country to re-enter global financial markets after 15 years. The bondholders, including Elliott Management, received substantial repayments, marking a significant financial turnaround for Argentina.

Court Opens Way for Argentina to End Battle With Hedge Funds

14 Apr 2016  |  www.nytimes.com
The United States Court of Appeals upheld a ruling to lift an injunction against Argentina, allowing it to raise funds to pay New York hedge funds and re-enter international markets after a 15-year absence. The decision ends a legal battle stemming from Argentina's 2001 default on $100 billion of bonds. Argentina agreed to pay $4.65 billion to four hedge funds, including NML Capital, and plans to issue bonds to meet its obligations. Economy Minister Alfonso Prat-Gay announced the bond sale in New York, with payments to creditors expected by the following week.

President of Argentina Attacks Her Foes at Court Hearing

14 Apr 2016  |  www.nytimes.com
Former President Cristina Fernández de Kirchner testified in a Buenos Aires court regarding alleged misconduct at Argentina’s Central Bank during her administration's final months. The hearing became a political spectacle as Kirchner claimed persecution by opponents and questioned the judiciary's independence. Despite her party's electoral defeat and the reversal of her policies by successor Mauricio Macri, Kirchner's court appearance showcased her continued influence among supporters.

Argentine Prosecutor May Add Ex

10 Apr 2016  |  www.nytimes.com
An Argentine federal prosecutor, Guillermo Marijuán, is seeking to include former President Cristina Fernández de Kirchner in a widening money laundering investigation. The decision follows testimony from financier Leonardo Fariña. The judge, Sebastián Casanello, must decide on the recommendation. The case, involving construction baron Lázaro Báez, has been ongoing since 2013 and suggests that tens of millions of dollars may have been siphoned from government funds. Allegations of corruption have surrounded both Kirchner administrations, with several former officials already convicted or indicted.

Panama Papers Continue to Shake Leaders, Including Cameron and Putin

08 Apr 2016  |  www.nytimes.com
The Panama Papers leak continues to impact global leaders, with Russian President Vladimir Putin denouncing it as an American plot and Iceland appointing a new prime minister. British Prime Minister David Cameron admitted to profiting from an offshore trust set up by his late father, a client of Mossack Fonseca, the law firm implicated in the leak. Cameron, who sold his shares for around £30,000 in 2010, claimed the dividends were taxed and denied concealing his family's wealth.

Obama Visit Affirms Argentina’s Shift Toward Center

24 Mar 2016  |  www.nytimes.com
President Obama's visit to Argentina marks a significant shift in the country's political alignment towards the center, contrasting sharply with the leftist momentum during George W. Bush's 2005 visit. The visit, following Obama's trip to Cuba, underscores Washington's support for Argentina's new center-right government and aims to strengthen the US position in a region where China is gaining influence. Key figures such as Marcos Peña and Carlos Escudé highlight the historic opportunity for renewed relations and strategic positioning.

The Dream of Treasure Keeps Paraguayans Digging

11 Mar 2016  |  www.nytimes.com
In Paraguay, the legend of hidden treasures known as plata yvygüy continues to captivate people, leading to widespread treasure hunting activities. These treasures are believed to have been hidden during the War of the Triple Alliance. The search for these treasures involves a diverse group of people, including high-ranking officials and ordinary citizens, all driven by the hope of unearthing valuable artifacts. This phenomenon is part of a broader trend of treasure hunts in the Americas, reflecting cultural and historical narratives.

Argentina Reaches Deal With Hedge Funds Over Debt

01 Mar 2016  |  www.nytimes.com
Argentina has agreed to pay $4.65 billion to four hedge funds, including Paul E. Singer's NML Capital, to resolve a longstanding conflict that prevented the country from accessing global financial markets. The settlement is seen as a significant relief for Argentina's economy, allowing for potential foreign investment. The hedge funds had been in a legal battle with Argentina since the country's $100 billion debt default in 2001, even going as far as seizing an Argentine navy ship in Ghana.

Bolivian Town Drifts From President Evo Morales, Despite Promises Kept to Left

28 Feb 2016  |  www.nytimes.com
Evo Morales, Bolivia's first indigenous president, has significantly improved the town of Cobija through investments from the natural gas industry and land redistribution. Despite these achievements, a recent referendum rejected his bid for a fourth term, reflecting a broader trend of declining support for long-standing leftist leaders in Latin America. The article explores whether this discontent is aimed at the leaders themselves or their policies, noting that while leaders like Hugo Chávez, Cristina Fernández de Kirchner, and Rafael Correa have faced setbacks, their focus on inequality remains influential. The piece also highlights the economic and political challenges faced by other leftist leaders, such as Dilma Rousseff and Nicolás Maduro, and the policy adjustments made by new leaders like Mauricio Macri.

Judge Deals Setback to Holdouts in Negotiations With Argentina

20 Feb 2016  |  www.nytimes.com
Judge Thomas Griesa of the United States District Court in Manhattan has decided to lift an injunction that prevented Argentina from accessing international markets, marking a significant shift in the longstanding legal battle with New York hedge funds, including NML Capital led by billionaire Paul E. Singer's Elliott Management. The injunction will be lifted once Argentina repeals certain domestic laws and settles with bondholders by February 29. This development follows a series of court victories for the holdouts and comes after a deadlock between the creditors and former Argentine President Cristina Fernández de Kirchner, which led to Argentina defaulting on its debt in 2014.

Citigroup to Sell Retail Units in Argentina, Brazil and Colombia

20 Feb 2016  |  www.nytimes.com
Citigroup announced plans to sell its retail businesses in Argentina, Brazil, and Colombia to focus on its more profitable corporate arm. The move is part of a broader strategy to streamline operations and allocate resources for better returns. Despite economic challenges in these countries, Citigroup's decision is driven by strategic goals rather than market weaknesses. The bank aims to capitalize on potential investment opportunities, especially in Argentina, following recent economic reforms by President Mauricio Macri.

No Serious Injuries After Bus Carrying Argentine Soccer Team Crashes

11 Feb 2016  |  www.nytimes.com
Players from Huracán, a top Argentine soccer team, received emergency treatment after their bus crashed and overturned in Venezuela following a Copa Libertadores match against Caracas F.C. Despite the bus's brakes failing and the vehicle flipping, no serious injuries were reported among the players and staff.

After 14 Years at Odds, Argentina Aims to Settle Debt With Hedge Funds

03 Feb 2016  |  www.nytimes.com
Argentina and New York hedge funds are negotiating to resolve a long-standing debt dispute. Argentina has agreed to pay $1.35 billion to Italian investors, marking the first settlement with holdout creditors. However, negotiations with hedge funds led by Paul E. Singer's Elliott Management remain unresolved. The new administration under President Mauricio Macri aims to settle the debt as part of broader economic reforms. Key figures in the negotiations include Finance Secretary Luis Caputo and Economic Minister Alfonso Prat-Gay. The investment world is closely monitoring these developments.

Escaped Convicts in Argentina Shoot 2 Police Officers

01 Jan 2016  |  www.nytimes.com
Three convicts serving life sentences for a 2008 triple homicide escaped from a Buenos Aires penitentiary, shooting and wounding two police officers at a checkpoint. The escape has led to a political feud between María Eugenia Vidal, the new governor of Buenos Aires Province, and Aníbal Fernández, her defeated opponent, with each blaming the other for the breakout. The convicts, linked to a drug ring, have not been captured despite being located. The incident has intensified the manhunt and political tensions in the region.

Mauricio Macri, Argentine President, Is Cleared of Wiretapping Charges

30 Dec 2015  |  www.nytimes.com
A federal judge in Argentina dismissed charges against President Mauricio Macri in a long-standing illegal phone-tapping case. The judge, Sebastián Casanello, found no clear evidence against Macri, who was accused of directing a wiretapping scheme during his tenure as mayor of Buenos Aires. The case involved the alleged tapping of phones belonging to Sergio Burstein and Néstor Daniel Leonardo. Other defendants, including Macri's former police chief Jorge Palacios, are set to go to trial in 2017.

Transportation Ministers Get Prison

30 Dec 2015  |  www.nytimes.com
Two former transportation ministers in Argentina, Juan Pablo Schiavi and Ricardo Jaime, were convicted and sentenced to prison for their roles in a 2012 train crash in Buenos Aires that killed 51 people. Schiavi received an eight-year sentence, while Jaime was given a six-year sentence, which included punishment for a previous bribery charge. The court found them guilty of fraudulent practices that compromised train line management. Additionally, 19 others were convicted, including the train driver and Sergio Claudio Cirigliano, whose company operated the commuter line. Victims' families welcomed the ruling, with a full explanation from the judges expected in March.

Botched Vote in Argentina Reflects Trouble in South America

23 Dec 2015  |  www.nytimes.com
The Argentine soccer federation's presidential election ended in a 38-38 tie despite 75 votes being cast, highlighting the ongoing dysfunction and corruption within the organization. This incident reflects broader challenges in South American soccer governance, especially in the wake of a major corruption scandal. Public trust in candidates Luis Segura and Marcelo Tinelli is severely undermined, with many viewing the entire leadership pool as tainted.

Argentine Prosecutor Seeks to Reopen Case Against Ex

16 Dec 2015  |  www.nytimes.com
A federal prosecutor in Argentina is attempting to revive a criminal complaint originally filed by the late Alberto Nisman against former President Cristina Fernández de Kirchner. Nisman had accused Kirchner of shielding Iranian officials involved in a 1994 bombing in exchange for trade benefits. The case was previously dismissed, but new information related to a public pact between Argentina and Iran has prompted prosecutor Raúl Pleé to seek its reopening. The new president, Mauricio Macri, has ceased the appeal of the pact, which was deemed unconstitutional. The investigation into Nisman's death remains unresolved, adding to the political tension.

Argentina Abandons Pact With Iran to Investigate ’94 Attack at Jewish Center

12 Dec 2015  |  www.nytimes.com
Argentina's new government, under President Mauricio Macri, has decided not to appeal a court decision that declared a 2013 pact with Iran unconstitutional. The pact, aimed at investigating the 1994 bombing of a Jewish center in Buenos Aires, had been criticized for potentially allowing Iranian suspects to avoid charges. Justice Minister Germán Garavano stated the decision to cease the appeal was influenced by judicial controversies and was a political move ordered by Macri. The bombing, which killed 85 people, is believed by Argentine prosecutors to have been orchestrated by Iran, a claim Iran denies. The case gained further attention due to the mysterious death of prosecutor Alberto Nisman, who had accused the previous government led by Cristina Fernández de Kirchner of making a secret deal with Iran.

Mauricio Macri, Argentina’s New President, Is Sworn In Amid Feud With Predecessor

11 Dec 2015  |  www.nytimes.com
Mauricio Macri was inaugurated as Argentina's president on December 10, 2015, amidst a boycott by outgoing president Cristina Fernández de Kirchner over the ceremony's proceedings. The transition was marked by controversy and legal disputes, with Kirchner's term officially ending at midnight before the inauguration, leaving a temporary gap filled by Federico Pinedo of Macri's party. Kirchner's absence was seen as a final act of defiance, while Macri's supporters viewed the inauguration as a move towards less contentious politics. The event was closely watched by the nation and regional leaders, with Macri addressing the public from the presidential palace.

Her Time Is Up, but Argentina’s President Is Not Going Quietly

07 Dec 2015  |  www.nytimes.com
In her final days in office, Argentine President Cristina Fernández de Kirchner is taking actions that obstruct the transition to President-elect Mauricio Macri, including appointing ambassadors and signing decrees that strain federal finances. Her resistance is seen as a move to position herself as a strong opposition leader, complicating Macri's plans to implement market-oriented economic changes. Observers criticize her actions as detrimental to Argentina's economic stability.

Mauricio Macri Took Detour From Life as Scion to Argentine Presidency

24 Nov 2015  |  www.nytimes.com
Mauricio Macri, the president-elect of Argentina, credits a life-changing kidnapping experience in 1991 for his shift from a predictable business path to a political career. After serving as the mayor of Buenos Aires, he won the presidential race, defeating the long-dominant Peronists. Macri quickly signaled a shift in foreign policy from the outgoing president, Cristina Fernández de Kirchner, by announcing efforts to suspend Venezuela from the Mercosur trade bloc over civil liberties concerns.

In Rebuke to Kirchner, Argentines Elect Opposition Leader Mauricio Macri as President

23 Nov 2015  |  www.nytimes.com
Argentine voters elected opposition leader Mauricio Macri as President, signaling a shift away from the protectionist economic policies of outgoing President Cristina Fernández de Kirchner. Macri won with 51.4 percent of the vote against Daniel Scioli's 48.5 percent. The election outcome reflects Argentina's deep divisions after 12 years under Kirchner and her husband, with concerns over the economy and Kirchner's confrontational style.

In Argentina, a Quiet Data Cruncher Aims to Bring Sense to a Raucous Election

22 Nov 2015  |  www.nytimes.com
Andy Tow, a civil servant and statistician, has gained attention for his data-driven analysis of Argentina's political landscape, particularly during the presidential election. His work, which includes creating digital maps to demonstrate voting trends, has earned him recognition and a growing following on Twitter. Tow's approach offers a contrast to mainstream media's treatment of the election, focusing on scientific criteria rather than simplification.

Argentina Considers Shift as Upstart Rises in Presidential Race

21 Nov 2015  |  www.nytimes.com
Mauricio Macri, the mayor of Buenos Aires, is emerging as the front-runner in Argentina's presidential race, challenging the long-standing influence of President Cristina Fernández de Kirchner and her late husband, Néstor Kirchner. Macri's campaign, which has taken him into Kirchner's strongholds, promises to roll back economic policies implemented since 2003, citing issues like inflation and political divisiveness. His rise has been marked by a nonconfrontational approach aimed at softening his patrician image. The potential shift in leadership has many considering the impact on Argentina's future.

In Argentina Elections, Tight Vote Yields Presidential Runoff

26 Oct 2015  |  www.nytimes.com
Argentine voters propelled the presidential race into a runoff, with Mauricio Macri, the mayor of Buenos Aires, showing unexpected strength against Daniel Scioli, the candidate endorsed by President Cristina Fernández de Kirchner. With 84 percent of votes counted, Scioli led with 35.7 percent, closely followed by Macri with 35.3 percent. The runoff election is set for Nov. 22, with Sergio Massa, who secured 21 percent of the vote, potentially playing a crucial role in the outcome.

Election Will End Kirchner’s Presidency, Not Her Hold on Argentina

25 Oct 2015  |  www.nytimes.com
As Argentina approaches its presidential elections, Cristina Fernández de Kirchner's influence remains strong despite being constitutionally barred from a third term. Her party's candidate, Daniel Scioli, is the front-runner and is committed to continuing Kirchner's policies with some adjustments, including improving relations with the United States and creditors. Kirchner's political movement, Kirchnerismo, has had a significant impact on the country over the past 12 years.

Argentine Front-Runner for President Is Expected to Resolve Standoff With U.S. Hedge Funds

23 Oct 2015  |  www.nytimes.com
Argentina, on the verge of electing a new president, may soon resolve its longstanding conflict with American hedge funds over defaulted bonds from 2001. Daniel Scioli, the front-runner, is expected to negotiate a compromise if elected, diverging from the hardline stance of outgoing President Cristina Fernández de Kirchner. The resolution is crucial for Argentina to regain access to global lending markets, which is necessary to address the country's economic challenges, including high inflation and a need for foreign investment. While Kirchner has labeled the hedge funds as 'vultures,' Scioli's potential policies include reducing the fiscal deficit and devaluing the peso to attract investment. The hedge funds, led by Elliott Management, demand full payment of the $1.7 billion owed, including interest. Other candidates like Mauricio Macri and Sergio Massa have their own strategies for dealing with the debt dispute.

Argentina: Former Transportation Official Found Guilty in Graft Case

14 Oct 2015  |  www.nytimes.com
Ricardo Jaime, Argentina's former transportation minister from 2003 to 2009, was convicted on corruption charges for accepting vacations and free rent from businessmen with government contracts. He received a suspended sentence of one and a half years, merged with punishment for a separate crime, and was ordered to pay over $200,000. Judge Julián Ercolini's sentencing detailed Jaime's acceptance of vacations to Brazil and living in apartments paid for by a company that operated a major bus terminal, which had its contract renewed by Jaime.

A Humble Pope, Challenging the World

19 Sep 2015  |  www.nytimes.com
Pope Francis, shortly after his election, began celebrating morning Mass in the Vatican guesthouse chapel, emphasizing a humbler approach by engaging with gardeners, janitors, and office workers instead of high-ranking cardinals. His actions and sermons, which call for the abandonment of 'decadent structures,' symbolize a shift towards a more pastoral and less regal papacy. Francis's ambitions extend beyond the Roman Catholic Church, aiming to influence global change.

Pope Francis’ Visit to U.S. Is His First Ever, for Several Reasons

06 Sep 2015  |  www.nytimes.com
Pope Francis is set to visit the United States for the first time, a significant event given his predecessors' earlier visits and his own avoidance of the country. His trip will include stops in Washington, New York, and Philadelphia. Known for his preference for the poor over the powerful, Francis has been hesitant to visit the U.S. due to his critical stance on its economic and political influence, his European focus, and his discomfort with English. His visit marks a notable moment in his papacy and the relationship between the Vatican and the U.S.

Primaries in Argentina Point to a Close Presidential Race

11 Aug 2015  |  www.nytimes.com
The Argentine presidential primaries revealed a tight race, with Daniel Scioli of the governing party leading with over 38% of the vote, followed by Mauricio Macri. The results were inconclusive, leaving uncertainty about the general election outcome in October. The primary system in Argentina is mandatory for all voters, and a candidate needs over 45% of the vote or 40% with a 10-point lead to win outright. The performance of a third bloc led by Sergio Massa, which garnered 21%, adds to the unpredictability.

Argentines Vote in Presidential Primary

10 Aug 2015  |  www.nytimes.com
Argentines participated in a primary election to select presidential nominees, indicating the nation's appetite for change after 12 years under the current president's party. Daniel Scioli, the candidate from the governing Front for Victory, endorsed by President Cristina Fernández de Kirchner, is expected to receive the most votes. Kirchner cannot run for a third term. The primary system, introduced in 2011, allows voters to choose candidates for the presidential election on October 25. Scioli, a former powerboat champion who lost his right arm in an accident, became the sole candidate for the Front for Victory after Kirchner's endorsement led other candidates to withdraw.
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