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The economy is likely already in recession and is expected to contract again next year. Shortly after being sworn in as economy minister, Massa in August 2022 pledged to stop printing money to fight inflation. "Markets will likely prefer a Milei victory simply because he is more credible on delivering the fiscal adjustment." "Every investor understands that the macroeconomic adjustments that Argentina needs will inevitably translate into short-term pain." For investors, Argentine stocks traded in New York (.MIAR00000PUS) have been a beacon of hope, up near 15% year to date.

Persons: Sergio Massa, Javier Milei, Luis Robayo, Pilar Tavella, Alejo Czerwonko, Massa, Carlos de Sousa, UBS's, JPMorgan's Diego Celedon, Celedon, Rodrigo Campos, Adam Jourdan, Lisa Shumaker Organizations: por la Patria, La Libertad, University of Buenos, Law School, Global, Peronist, Barclays, Reuters Graphics Reuters, Argentina, Monetary Fund, Itau, IMF, Emerging, UBS Global Wealth Management, Vontobel Asset Management, Argentine, UBS, Thomson Locations: Argentina, University of Buenos Aires, Buenos Aires Argentina, New York, Argentine, outperforming

☆ Argentina's conservatives gamble for survival on odd couple Milei and Macri
▼ + stars: | 2023-11-15 | by ( Lucila Sigal | ) www.reuters.com time to read: +5 min

Luis Robayo/Pool via REUTERS/File Photo Acquire Licensing RightsBUENOS AIRES, Nov 15 (Reuters) - Javier Milei shot to prominence lambasting Argentina's traditional political elite. Now the radical presidential election frontrunner is the mainstream conservatives' best shot at clinging onto power. If Milei loses, it could precipitate the fracturing of the conservative coalition between more right-wing and moderate wings. "There may be some Milei voters who get angry at an alliance with the 'caste', just as there may be Macri voters who get angry at an alliance with Milei," said Fornoni. "We don't know today what power Macri will have, if Macri will end up absorbing Milei or Milei absorbing Macri.

Persons: Javier Milei, Luis Robayo, Sergio Massa, Milei, Mauricio Macri, Patricia Bullrich, Donald Trump, Shila Vilker, Trespuntozero, Mariel Fornoni, GAMBLE, Massa, Pope Francis, Milei's, Macri, it's, Ezequiel Salinas, Fornoni, Lucila Sigal, Nicolás Misculin, Adam Jourdan, Rosalba O'Brien Organizations: Argentine, La Libertad, University of Buenos, Law School, Peronist, Management, Bullrich, Reuters, Milei, Thomson Locations: University of Buenos Aires, Buenos Aires Argentina, BUENOS AIRES, China, Candelaria

☆ Javier Milei wants Argentina to swap the peso for the US dollar. Here's what that would mean
▼ + stars: | 2023-10-23 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

For years, Argentinians have preferred to pay for many goods and services in greenbacks, rather than with their own collapsing currency, as part of an informal “blue dollar” currency market. To dollarize its economy, Argentina would need to exchange all pesos held by its people and businesses for US dollars, and assign a dollar value to all of its assets and contracts. The Fed would continue to set the cost of borrowing based on the needs of the US economy, not Argentina’s. Practical headacheThere’s another significant snag in Milei’s plan: Argentina doesn’t have enough dollars to ditch the peso. “People would need to take wheelbarrows of cash to convert to dollars,” Sabatini said.

Persons: Javier Milei, Sergio Massa, Argentina’s, JP Morgan, Argentinians, Milei, Natacha, Matias Baglietto, Reuters “ That’s, ” Christopher Sabatini, Kimberley Sperrfechter, ” Sperrfechter, It’s, ” Sabatini, Luis Robayo, Sabatini, ” Organizations: London CNN, National Institute of Statistics, Argentina’s, US Federal Reserve, Economic, Reuters, America, Chatham House, CNN, Capital Economics, International Monetary Fund, Getty, IMF Locations: Argentina, greenbacks, Washington, El Salvador, Panama, Ecuador, United States, Buenos Aires, AFP

Several countries, including Venezuela, Argentina and Sudan have been saddled with skyrocketing costs for decades. In advanced economies overall, inflation averaged 2.4% since the 1990s – the earliest aggregate data the IMF has available. In 2022, Venezuelan inflation was still 310%, the highest in the world that year. “Because everything will be more expensive tomorrow, people spend their money as they receive it, increasing the inflation,” Anselmi told CNN. Using US currency for transactions is common in Venezuela, as people don’t trust the volatile local currency, according to Guevara.

Persons: Z, Bolivar, bolivars, Andrés Guevara, bolivar, ”, “, Nelson Sánchez, Sanchez, Emiliano Anselmi, Luis Robayo, ” Anselmi, Guevara, Gaby Oraa, Anselmi Organizations: CNN, Bureau of Labor Statistics, International Monetary Fund, IMF, Federal Reserve, European Union, Pensioners, Andrés Bello Catholic University, Getty, U.S Locations: United States, Venezuela, Argentina, Sudan, Ukraine, United Kingdom, US, Caracas, Buenos Aires, AFP, Venezuelan

☆ Birds in the Atlantic are pecking baby whales to death, eating blubber from their backs as they surface for air
▼ + stars: | 2023-06-07 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +3 min

Gulls off the coast of Argentina have developed a peculiar food habit: pecking at whales' back fat. The birds used to feed on skin shed by the whales, but they figured out how to go straight to the source. The birds — kelp gulls — used to feed off sheets of skin from right whales, which the animals naturally shed. The birds flutter about waiting for the whales to surface, then they pounce, pecking at the whale's hide to get to the blubber. "Our analysis supports recent studies indicating that gull harassment at Peninsula Valdés may impact southern right whales population dynamics," the scientists said in the study.

Persons: —, peck, Mariano Sironi, wildestanimal, LUIS ROBAYO Organizations: Service, Gulls, Instituto, New York Times, Times, Getty Locations: Argentina, Conservación, Ballenas, AFP

☆ Gucci-Owner Kering, Drugmaker GSK and Others Are Developing Global Targets on Nature Loss
▼ + stars: | 2023-05-25 | by ( Dieter Holger | ) www.wsj.com time to read: +6 min

Luxury group Kering and biopharma company GSK are among more than a dozen companies preparing targets to develop a gold standard for how businesses can protect nature. Yet the issues surrounding nature loss are complex and many companies are unsure how to measure it or what to do. The Taskforce on Nature-Related Financial Disclosures, a business-backed effort to protect biodiversity, is working on a reporting framework, and SBTN is developing standards to evaluate companies’ nature targets. “We expect that the landscapes will be similar [to the ones under the SBTN targets], ” Gonçalves Krebsbach said. In 2020, GSK started to map out stressed water basins in its supply chain.

☆ More Kids Get Weight-Loss Surgery to Treat Obesity
▼ + stars: | 2023-04-19 | by ( Sarah Toy | ) www.wsj.com time to read: 1 min

A bariatric surgery can benefit children as young as 13, according to guidelines from the American Academy of Pediatrics. Photo: Luis Robayo/Agence France-Presse/Getty ImagesMore children are getting stomach surgery to help them lose weight, the most drastic of measures doctors are recommending to confront relentlessly rising obesity rates. Many of the young people who undergo bariatric surgery didn’t lose weight through diet, exercise or weight-loss drugs. Bariatric surgery can be a faster, more lasting fix for patients with severe obesity, researchers and pediatricians said.

☆ Around the world, charges are no barrier to high office
▼ + stars: | 2023-04-04 | by ( Caolán Magee | ) edition.cnn.com time to read: +6 min

But charges have often not been a barrier to holding political office. Israel’s Benjamin NetanyahuIsraeli Prime Minister Benjamin Netanyahu in Berlin, March 16, 2023. The prime minister is also currently facing a corruption trial, on charges of fraud, bribery and breach of trust. Lula has called the charges a “farce,” claiming the charges were politically motivated. Angelo Carconi/Associated PressThe flamboyant Italian tycoon was a serial prime minister until standing down in 2011.

Persons: Donald Trump, Israel’s Benjamin Netanyahu, Benjamin Netanyahu, Sean Gallup, Netanyahu, Israel’s, Brazil’s Luiz Inácio Lula da Silva, Luiz Inácio Lula Da Silva, Ulysses Guimarães, Andressa Anholete, Lula, Jair Bolsonaro, Argentina’s Cristina Fernández de Kirchner, Cristina Fernández de Kirchner, Luis Robayo, Fernández de Kirchner, ”, Malaysia’s Anwar Ibrahim Malaysia's, Anwar Ibrahim, Arif Kartono, Anwar, –, Italy’s Silvio Berlusconi Silvio Berlusconi, Angelo Carconi, Berlusconi Organizations: CNN, Trump, Brazil’s Luiz Inácio Lula da Silva Brazilian, Centro de, Petrobras, Getty, Alliance of Hope, Associated, Italy’s Senate Locations: Israel’s Benjamin Netanyahu Israeli, Berlin, Brasilia, Brazil, America, La Plata, Argentina, AFP, Permatang, Malaysia's Penang, Malaysian, Malaysia, Rome, Italy, Italy’s

☆ Thousands in Argentina welcome back triumphant World Cup winners, Messi
▼ + stars: | 2022-12-20 | by ( Associated Press | ) www.nbcnews.com time to read: +2 min

Thousands of fans lined up in the middle of the night to try to get a glimpse of the Argentina soccer team that won one of the greatest World Cup finals of all time ahead what is scheduled to be a day of celebrations in Buenos Aires. Throughout the trip, Messi held on the World Cup as players waved to fans and often sang along with them. Argentina's Lionel Messi holds the FIFA World Cup Trophy upon arrival at Ezeiza International Airport in Buenos Aires on Tuesday. As the plane got closer to Argentine soil, almost 200,000 people were tracking its path online and news channels gave live coverage of the arrival. In the afternoon, people started arriving at the airport and outside the AFA headquarters in hopes of getting a glimpse of the team.

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