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☆ Argentina Lower Chamber Approves Milei's 'Omnibus' Reform Bill
▼ + stars: | 2024-02-02 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

BUENOS AIRES (Reuters) - Argentina's lower chamber of deputies gave overall approval to libertarian President Javier Milei's sweeping "omnibus" reform bill in a vote on Friday after days of debate, paving the way for a decisive vote in the Senate. The controversial reform package was approved on a vote of 144 votes in favor, and 109 against. The mammoth bill is a key plank of Milei's reforms plans for Argentina's embattled economy, which is grappling with inflation above 200%, depleted foreign currency reserves and a time-bomb of debt repayments owned to creditors and investors. Milei's Libertad Avanza party only holds a small number of seats in the 257-seat chamber, but was still able to muster enough support from likeminded allies to advance the bill. (Reporting by Nicolas Misculin and Eliana Raszewski; Editing by Diane Craft and Sandra Maler)

Persons: Javier Milei's, Milei's, Nicolas Misculin, Diane Craft, Sandra Maler Organizations: BUENOS AIRES, Reuters, Senate Locations: BUENOS

☆ Mexico's America Movil denies report it's eyeing Argentine telecoms firm Arsat
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +1 min

The logo of America Movil is pictured on the wall at a reception area in the company's corporate offices, in Mexico City, Mexico January 25, 2022. REUTERS/Gustavo Graf/File Photo Acquire Licensing RightsMEXICO CITY, Nov 23 (Reuters) - America Movil (AMXB.MX), the Mexican telecommunications company controlled by billionaire Carlos Slim, on Thursday denied a report it is in talks with Argentine President-elect Javier Milei's team to buy Argentina's state telecoms company Arsat. Citing sources close to the matter, website La Politica Online said plans to sell Arsat are very advanced, and reported that a member of Milei's transition team on Tuesday held talks with executives from America Movil's Argentine unit, Claro. La Politica Online said the value of Arsat was discussed during the talks with a figure of around $930 million mentioned. A spokesperson for Milei's transition team did not immediately respond to a request for comment.

Persons: Gustavo Graf, Carlos Slim, Javier Milei's, Arturo Elias, Slim's, Arsat, Dave Graham, Eliana, Jonathan Oatis, Marguerita Choy Organizations: REUTERS, MEXICO CITY, Argentine, Reuters, Politica, America Movil's, Thomson Locations: Mexico City, Mexico, MEXICO, Mexican, America Movil's Argentine, Claro

☆ Argentina hikes taxes on dollar savings and bank card purchases ahead of Milei taking power
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +1 min

A one hundred Argentine peso bill sits on top of several one hundred U.S. dollar bills in this illustration picture taken October 17, 2022. The change means that Argentines using dollar credit cards or buying foreign currency for savings will pay rates closer to those in alternative markets. This change comes after libertarian Milei, who proposes dollarizing Argentina's economy and eliminating the central bank, defeated the Peronist Economy Minister Sergio Massa in a presidential run-off on Sunday. To safeguard its limited foreign currency, Argentina set multiple exchange rates under strict controls in 2019. Reporting by Walter Bianchi; Writing by Natalia Siniawski; Edited by Eliana Raszewski and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Agustin Marcarian, Javier Milei, Milei, Sergio Massa, Walter Bianchi, Natalia Siniawski, Eliana Raszewski, Marguerita Choy Organizations: Argentine, REUTERS, Peronist Economy, Thomson Locations: Argentina, Argentine

Milei, who is pledging economic shock therapy such as shutting the central bank and dollarization, won a second-round runoff vote on Sunday with some 56% to rival Sergio Massa's 44%. Milei now faces the huge challenge of turning around the economy once he takes office on Dec. 10. "It is an economy that is in intensive care," said Miguel Kiguel, a former undersecretary of finance at the Economy Ministry in the 1990s. A central bank poll of analysts forecast 185% inflation by the end of the year. In a bid to tamp down inflation Argentina's central bank has hiked the benchmark interest rate to 133%, which encourages saving in pesos, but hurts access to credit and economic growth.

Persons: Javier Milei, Sergio Massa's, Milei, Miguel Kiguel, Lucio Garay Mendez, Vaca Muerta, Eugenio Marí, Hernan Nessi, Adam Jourdan, Daniel Wallis, Chris Reese Organizations: Economy Ministry, Reuters Graphics Reuters, Coldplay, Reuters Graphics, CENTRAL, International Monetary Fund, Libertad y Progreso Foundation, Thomson Locations: BUENOS AIRES, dollarization, Argentina, China, Brazil

☆ Shares in Argentina's YPF soar as Milei hints at privatization
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsCompanies Ypf Sa FollowRepsol SA FollowBUENOS AIRES, Nov 20 (Reuters) - New York-traded shares in Argentine state-run oil company YPF soared more than 40% on Monday after President-elect Javier Milei said he would seek to privatize the firm. The South American country nationalized 51% of the oil company more than a decade ago from Spain's Repsol (REP.MC). YPF is Argentina's largest oil firm and oversees development of Vaca Muerta, the world's second-largest shale gas reserve and fourth-largest shale oil reserve. Shares of YPF jumped more than 40% early in the session, before paring some gains to trade up 35.2%. Global X analyst Trevor Yates said the YPF gains were related to the increasing likelihood of it being privatized and implementing an international price parity policy.

Persons: Alberto Fernandez, Cristina Fernandez de Kirchner, Agustin Marcarian, Javier Milei, Sergio Massa, YPF, Milei, Spain's, Vaca Muerta, Trevor Yates, Yates, Eliana Raszewski, Bansari Mayu, Grant McCool Organizations: Argentine, REUTERS, Global, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, New York, Argentine, American

☆ Javier Milei: from TV pundit to the presidency
▼ + stars: | 2023-11-19 | by ( Maximilian Heath | ) www.reuters.com time to read: +5 min

Argentine presidential candidate Javier Milei reacts during the closing event of his electoral campaign ahead of the November 19 runoff election, in Cordoba, Argentina, November 16, 2023. REUTERS/Matias Baglietto/file photo Acquire Licensing RightsBUENOS AIRES, Nov 19 (Reuters) - When Argentine libertarian Javier Milei announced his entry into politics in 2020 in a bid to "blow up" the system, few predicted that three years later the wild-haired economist and former TV pundit could reach the presidency. Against that backdrop, Milei and his Liberty Advances coalition have seen a dramatic rise in support, especially among the young. "He is the change that Argentina needs," said 28-year-old Milei voter Ayrton Ortiz at a rally in Buenos Aires ahead of the election. "If Javier combed his hair neatly, if Javier didn't get angry, would people ever have invited him to speak?"

Persons: Javier Milei, Matias Baglietto, he's, Milei, Al Capone, Sergio Massa, Massa, Donald Trump, Ayrton Ortiz, THATCHER, Javier, Javier didn't, Diana Mondino, John Oliver, Tucker Carlson, Argentine Pope Francis, Diego Maradona, Margaret Thatcher, Karina, Conan, Murray, Milton, Robert, Lucas, Patricia Bullrich, Juan Gonzalez, El, Maximilian Heath, Anna, Catherine Brigida, Adam Jourdan, Rosalba O'Brien Organizations: Argentine, REUTERS, Peronist, Liberty, Fox News, Reuters, Thomson Locations: Cordoba, Argentina, BUENOS AIRES, Argentine, United States, Brazil, Buenos Aires, U.S

☆ Argentina's presidential candidates face $12 bln energy subsidy conundrum
▼ + stars: | 2023-11-15 | by ( Eliana Raszewski | ) www.reuters.com time to read: +5 min

Milei has said he will cut all subsidies, but admitted it would have to be done slowly. He admitted hiking energy bills was tough medicine in a society already hurting, but argued it needed to be done. "If you increase energy prices today, there is an inflationary peak and it's over. Conservative leader Mauricio Macri (2015-19) cut energy subsidies back. "I don't think Milei will eliminate all subsidies," she said, adding she would likely vote for him for a "change".

Persons: Marcos Brindicci, Sergio Massa, Javier Milei, Milei, Massa, Emilio Apud, Daniel Dreizzen, Peronist Massa, Mauricio Macri, Vaca Muerta, Aleph's, Raquel Ramírez, Eliana Raszewski, Adam Jourdan, Marguerita Choy Organizations: REUTERS, International Monetary Fund, Aleph Energy, Reuters Graphics, Peronist, IMF, Conservative, Reuters, Massa, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, China, America

☆ How the surge in antisemitism is affecting countries around the world
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +5 min

Smoke rises following an Israeli strike inside the Gaza Strip, as seen from Israel, October 31. BRAZILJewish leaders have noticed a rise in antisemitic discourse online, and incidents such as graffiti defacing a synagogue in Rio de Janeiro. BRITAINLondon's police force said there had been a 14-fold increase in incidents of antisemitism since the Oct. 7 attack. GERMANYA survey by a civil society observatory, the RIAS, found a 240% year-on-year increase in antisemitic incidents in the period of Oct. 7-15. CHINANo figures are available on antisemitic incidents.

Persons: Evelyn Hockstein, Karen Bass, Justin Trudeau, Ricardo Berkiensztat, Hitler, Gerald Darmanin, Darmanin, Eddo, David Saks, we'll, Rabbi Alexander Boroda, Andrew MacAskill, Layli Foroudi, Julia Harte, Chen Lin, Eliana, Maytaal Angel, Andrew Osborn, Carien du Plessis, Steven Grattan, Wa Lone, Thomas Escritt, Stephanie Van Den Berg, Estelle Shirbon Organizations: REUTERS, Reuters, UNITED STATES, Defamation League, White, CANADA, Argentine, Local, BRAZIL Jewish, Jewish Federation of, State of, Community Security Trust, FRANCE Interior, Hamas, SOUTH, South African Jewish Board, Deputies, Russia's Federation of Jewish, Thomson Locations: Gaza, Israel, Los Angeles, Canada, Toronto, ARGENTINA, Buenos Aires, Argentine, BRAZIL, Rio de Janeiro, State, State of Sao Paulo, BRITAIN, Britain, FRANCE, GERMANY, NETHERLANDS, SOUTH AFRICA, RUSSIA, Dagestan, Tel Aviv, CHINA, Beijing, Nazi, Wa

In London, girls in a playground are told they are "stinking Jews" and should stay off the slide. In China, posts likening Jews to parasites, vampires or snakes proliferate on social media, attracting thousands of "likes". She was describing what was in the minds of those behind antisemitic incidents. The most chilling antisemitic incident globally was the storming of an airport in Russia's Dagestan region on Sunday by an enraged crowd looking for Jews to harm after a flight arrived from Tel Aviv. Rabbi Alexander Boroda, president of Russia's Federation of Jewish Communities, said in response that anti-Israeli sentiment had morphed into open aggression towards Russian Jews.

Persons: Anna Gordon, Anthony Adler, Adler, Nonna Mayer, France's, Israel, Mayer, Rabbi Alexander Boroda, Shneor Segal, Akiva Carr, Layli Foroudi, Julia Harte, Chen Lin, Maytaal Angel, Andrew Osborn, Carien du Plessis, Steven Grattan, Eliana, Wa Lone, Thomas Escritt, Stephanie Van Den Berg, Estelle Shirbon, Angus MacSwan Organizations: REUTERS, Russia's Federation of Jewish, Cornell University, Center for Jewish, Thomson Locations: Golders Green, London, Britain, Gaza, Los Angeles, China, Israel, United States, France, Germany, South Africa, Russia's Dagestan, Tel Aviv, Azerbaijan, Caucasus, Buenos Aires, New York, Johannesburg, Western Europe, Dagestan, Wa

☆ Argentina drivers hunt for fuel 'like water in the desert' amid shortage
▼ + stars: | 2023-10-30 | by ( Eliana Raszewski | ) www.reuters.com time to read: +4 min

"The truth is that I work with the car and it's like looking for water in the desert," said 38-year-old Cabify driver Raul Paretto. "It is distressing because you don't know on a day-to-day basis what can happen; we are living one day at a time." EXPORT HALT THREATOil executives cited planned halts at local refineries, which provide 80% of domestic supply, and the country's scarce foreign currency reserves that have held up imports. Argentina's government has fixed a local oil price at $56 per barrel, far below the international price around $86 to try to calm local inflation of nearly 140%. loadingA second industry source, also declining to be named, also said that the issue was not output, but issues in refining the crude oil and the hurdles to bringing in imports.

Persons: Sergio Massa, Javier Milei, Raul Paretto, Leonardo Villa, Jorge Chemes, Massa, Vaca Muerta, Eliana Raszewski, Claudia Martini, Maximilian Heath, Adam Jourdan, Barbara Lewis, Jonathan Oatis Organizations: Argentine Rural Confederations, Reuters, Thomson Locations: BUENOS AIRES, Argentine, Peronist, Buenos Aires, Argentina, Vaca

☆ Argentina braces for election with economy in 'intensive care'
▼ + stars: | 2023-10-19 | by ( Eliana Raszewski | ) www.reuters.com time to read: +5 min

"It is an economy that is in intensive care," Miguel Kiguel, a former undersecretary of finance at the Economy Ministry in the 1990s, told Reuters. "The main challenge is to get Argentina out of stagnation, but to do that you have to lower inflation." J.P. Morgan has estimated inflation will end 2023 at 210%, while a central bank poll of analysts forecast 180%. In a bid to tamp down inflation Argentina's central bank has hiked the benchmark interest rate to 133%, which encourages saving in pesos, but hurts access to credit and economic growth. Milei wants to ditch the peso completely and dollarize the economy, while Bullrich says she favors a dual peso-dollar system.

Persons: Javier Milei, Sergio Massa, Patricia Bullrich, Miguel Kiguel, J.P, Morgan, Fernando Morra, Bullrich, Eliana Raszewski, Adam Jourdan, Daniel Wallis Organizations: Argentine, Buenos Aires, Argentina, Economy Ministry, Reuters, Reuters Graphics Reuters, Coldplay, Reuters Graphics, CENTRAL, International Monetary Fund, Thomson Locations: Buenos Aires, BUENOS AIRES, Argentina, China, Brazil

"You have to have a backbone to govern this country," Bullrich, the candidate for the Together for Change coalition, told Reuters at a recent press event. Bullrich is facing front-runner libertarian economist Javier Milei, who is promising more extreme policies, and economy minister Sergio Massa. She also cited the strong political machinery of the conservative coalition. Bullrich, replying to Reuters, said that the coalition - win or lose - would be a strong political force with around 10-11 governors and large presence in Congress. Another voter, 61-year-old retiree Patricia Amalia Rojas, said she backed Bullrich for her tough line on gangs and crime.

Persons: Patricia Bullrich, Bullrich, Javier Milei, Sergio Massa, Fernando de la Rua, Mauricio Macri, Cristian Ritondo, Maria Alejandra Ferreyra, Milei, Horacio Larreta, Ana Balcarce, Lomas de Zamora, Macri, Facundo Martinez Maino, Patricia Amalia Rojas, Eliana Raszewski, Adam Jourdan, Marguerita Choy Organizations: Peronist, Change, Reuters, Milei, Massa, Buenos Aires, University of Avellaneda, Lomas, Monetary Fund, Thomson Locations: BUENOS AIRES, Argentine, Argentina, Buenos Aires, Bullrich, Buenos

☆ The Buenos Aires barber's books: a history of 19,900% inflation
▼ + stars: | 2023-10-07 | by ( Adam Jourdan | Thomson Reuters | Regional Bureau Chief In South Latin America With Previous Experience Leading Corporate News Coverage In China | ) www.reuters.com time to read: +8 min

REUTERS/Agustin Marcarian Acquire Licensing RightsBUENOS AIRES, Oct 7 (Reuters) - The hand-written entries in the two dozen notebooks - date, haircut, price - chronicle decades of a Buenos Aires barber's working life. A price of 15 pesos equaled $15 with the currency peg. In her first term the haircut price rose 117%, speeding to 200% in her second term. Haircut prices rose 133% in his four years. The earliest health insurance bill he has was 798 pesos in 2007, since when it has hit 142,636 pesos, outstripping his haircut prices.

Persons: Barber Ruben Galante, Luciano Munoz, Agustin Marcarian, Ruben Galante, Alberto Fernandez, it's, Galante, Javier Milei, he's, Carlos Menem, Raul Alfonsin, Fernando de la Rua, de la Rua, Nestor Kirchner, Cristina Fernandez de Kirchner, Nestor's, Mauricio Macri, That's, Milei, Patricia Bullrich, Sergio Massa, Luciano Muñoz, Diego Maradona, Lionel Messi, Adam Jourdan, Eliana Raszewski, Prinz, Claudia Parsons Organizations: REUTERS, Reuters, Reuters Graphics Reuters Graphics, Currency, Reuters Graphics, Monetary Fund, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, Belgrano, United States

Bullrich, a conservative former lawmaker and security minister, is running against center-left candidate Sergio Massa and Javier Milei, a radical libertarian. The advisor claimed that IMF officials would likely support Bullrich's approach. They told us, 'If you win and put this program on the table and it begins to advance, we will be giving it the necessary support,'" said Martinez Maino. Former President Mauricio Macri, a member of Bullrich's party, renegotiated a previous IMF loan deal for $44 billion in 2018. Bullrich aims to grow foreign investment, said Martinez Maino, adding that he and the candidate's would-be pick for economy minister, Carlos Melconian, will travel this week to New York to meet with banks and investors.

Persons: Patricia Bullrich, Facundo Martinez Maino, Sergio Massa, Javier Milei, Milei, Martinez Maino, Mauricio Macri, Bullrich, Carlos Melconian, Lucila Sigal, David Alire Garcia Organizations: International Monetary Fund, Thomson Locations: BUENOS AIRES, August's, South, New York

☆ Argentina's Lower House Passes Bill to Reduce Taxes on Wealthy
▼ + stars: | 2023-09-19 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +1 min

BUENOS AIRES (Reuters) - Argentina's lower house on Tuesday passed a government-backed bill to cut taxes on high-income earners, a move that would erase about one trillion pesos ($2.8 billion) from state coffers in 2023, according to official estimates. The bill, which must now go through the Senate, passed with 135 votes in favor and 103 against. "Salaries are not profit," Economy Minister and presidential candidate Sergio Massa wrote on social media platform X following the vote. Opposition lawmakers blasted the move, saying the proposed tax cut aims to benefit Massa's presidential run for the October election. The South American nation is grappling with triple-digit annual inflation, with analysts polled by the central bank setting it at 169.3% at the end of the year.

Persons: Sergio Massa, Javier Milei, Milei, Eliana Raszewski, Juan Bustamante, Walter Bianchi, Valentine Hilaire, Sonali Paul Organizations: BUENOS AIRES, Reuters Locations: BUENOS

LA PLATA, Argentina, Sept 15 (Reuters) - Wielding a chainsaw above his head in the Argentine city of La Plata this week, radical presidential front-runner Javier Milei riled up thousands of supporters angry with 124% inflation and a painful cost-of-living crisis. We must remove all the people who have left this country destroyed," said Rosalia Garcia, 51, a public accountant at Milei's rally in La Plata, the capital of Buenos Aires province. "The political caste is afraid," he yelled in La Plata. Milei got just under 30% in the August primary, just ahead of Bullrich and Massa. Back in La Plata, high school student Roman Lopez, 16 - who will be a first-time voter this year - said he previously wasn't interested in politics, but Milei's energy had attracted him.

Persons: Javier Milei riled, Rosalia Garcia, Milei, Patricia Bullrich, Sergio Massa, I'm, Eduardo Murchio, it's, Sebastian Pedrozo, Roman Lopez, Horacio Soria, Juan Bustamante, Lucila Sigal, Eliana Raszewski, Rosalba O'Brien Organizations: LA, Peronist, Thomson Locations: LA PLATA, Argentina, Argentine, La Plata, October's, Buenos Aires, Milei, Bullrich, Massa, greenbacks

☆ Argentine conservative opposition wins provincial governor election by landslide
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

People gather at the campaign headquarters of the Juntos por el Cambio alliance for a primary election night event in Buenos Aires, Argentina August 13, 2023. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsBUENOS AIRES, Sept 10 (Reuters) - Argentina's main opposition alliance, Juntos por el Cambio, has won the governorship of Santa Fe province, the country's third most populous, in a sweeping victory for the conservative bloc, according to official provisional election data. One of the most important agricultural districts in Argentina, Santa Fe is home to the Rosario agricultural port complex, from which more than 80% of the country's agricultural shipments are exported. The latest national polls show an advantage for the libertarian economist Javier Milei, followed by Massa and the Juntos por el Cambio presidential candidate, Patricia Bullrich. "I wish the best future for the entire province of Santa Fe," said Fernandez, who is part of the Peronist coalition.

Persons: Agustin Marcarian, Maximiliano Pullaro, Marcelo Lewandowski, Pullaro, Sergio Massa, Javier Milei, Massa, Patricia Bullrich, Bullrich, Alberto Fernandez, Fernandez, Eliana Raszewski, Jackie Botts, Leslie Adler, Christopher Cushing Organizations: el Cambio, REUTERS, la Patria, Peronist, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, Santa Fe, Rosario, Argentine

Ramiro Marra, candidate for mayor of Buenos Aires and part of the inner circle of Argentina's radical presidential front-runner Javier Milei, listens to Milei talking to journalists, in Buenos Aires, Argentina August 24, 2023. Juan Napoli, also running for a Senate seat with Milei's party, agreed time would be needed to lay the groundwork for reforms. The presidential candidates for the two blocs will be Economy Minister Sergio Massa and former security minister Patricia Bullrich, respectively. "All of the alternatives that are laid out in the law and the national constitution, we are going to use them." Reporting by Anna-Catherine Brigida; Additional reporting by Eliana Raszewski and Juan Bustamante; Editing by Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

Persons: Ramiro Marra, Javier Milei, Agustin Marcarian, Milei, Marra, Juan Napoli, dollarization, Sergio Massa, Patricia Bullrich, Anna, Catherine Brigida, Eliana Raszewski, Juan Bustamante, Rosalba O'Brien Organizations: REUTERS, Milei, Reuters, Bull Market Brokers, Peronist, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES

☆ Argentina offers financial aid to crisis-hit workers and pensioners
▼ + stars: | 2023-08-27 | by ( Eliana Raszewski | ) www.reuters.com time to read: +3 min

Argentine one hundred peso bills are displayed in this picture illustration taken September 3, 2019. Massa said workers will receive 400 billion pesos in loans, while self-employed workers will be offered six months of tax relief and those on food benefits will receive additional stipends. "The goal is that every economic sector receives some state support," Massa said. Meanwhile, tensions have risen and a series of lootings have taken place across the country. ($1 = 350 Argentine pesos)Reporting by Eliana Raszewsi; Writing by Lizbeth Diaz and Sarah Morland; editing by Diane Craft and Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Persons: Agustin Marcarian, Sergio Massa, Massa, Javier Milei, Patricia Bullrich, Eliana Raszewsi, Lizbeth Diaz, Sarah Morland, Diane Craft, Chris Reese Organizations: REUTERS, Sunday, International Monetary Fund, South, Thomson Locations: BUENOS AIRES

A general view of the facade of Banco de la Nacion Argentina (Bank of the Argentine Nation), in Buenos Aires, Argentina December 7, 2021. The official FX rate will be fixed at 350 pesos per dollar until the October elections, the central bank said. The country's sovereign dollar bonds fell as much as 2 cents on the dollar, with the 2038 note leading the slide, according to MarketAxess data. Latin America's third-largest economy has been grappling with a severe economic crisis with sky-high inflation and falling central bank reserves. A candidate needs 45% of the Oct. 22 vote to win outright or 40% and a 10-point lead over second place.

Persons: Agustin Marcarian, Javier Milei, William Jackson, overvalued, Sunday's, Goldman Sachs, Patricia Bullrich, Sergio Massa, Ricardo Delgado, Eliana Raszewski, Rodrigo Campos, Jorge Otaola, Medha Singh, Adam Jourdan, Bernadette Baum, John Stonestreet, Andrew Cawthorne Organizations: de la Nacion Argentina, Bank of, Argentine, REUTERS, LONDON, Capital Economics, Investment, JPMorgan, Gross, Milei, Peronist, Economy, Analytica, Reuters Graphics Reuters, International Monetary Fund, IMF, Qatar, Thomson Locations: Buenos Aires, Argentina, Agustin Marcarian BUENOS AIRES, MERV, Argentine, refinance, Washington, Rosario

A general view of the facade of Banco de la Nacion Argentina (Bank of the Argentine Nation), in Buenos Aires, Argentina December 7, 2021. REUTERS/Agustin MarcarianBUENOS AIRES/LONDON, Aug 14 (Reuters) - Argentina's markets face an election hangover on Monday after a shock primary vote win for far-right libertarian Javier Milei - who wants to axe the central bank and dollarize the economy - shook up the race towards presidential elections in October. Rock-singing, wild-haired economist and lawmaker Milei far outperformed forecasts to win some 30% of the vote, the largest share with over 90% of ballots counted. Latin America's third-biggest economy has been grappling with a severe economic crisis with sky-high inflation and falling central bank reserves. A candidate needs 45% of the Oct. 22 vote to win outright or 40% and a 10-point lead over second place.

Persons: Agustin Marcarian, Javier Milei, Milei, Diego Pereira, Milei's, Goldman Sachs, Patricia Bullrich, Sergio Massa, Ricardo Delgado, Eliana Raszewski, Jorge Otaola, Adam Jourdan, Stephen Coates, Bernadette Baum Organizations: de la Nacion Argentina, Bank of, Argentine, REUTERS, LONDON, Investment, JPMorgan, Reuters Graphics Reuters, Gross, Peronist, Economy, Analytica, International Monetary Fund, Qatar, Thomson Locations: Buenos Aires, Argentina, Agustin Marcarian BUENOS AIRES, U.S, Argentine, refinance, Washington, Rosario

☆ Argentina won't use 'one dollar' of reserves to repay IMF, says Massa
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

BUENOS AIRES, July 31 (Reuters) - Argentina's Economy Minister Sergio Massa said on Monday the country will not use "a single dollar" of its own reserves to make a $2.7 billion repayment to the International Monetary Fund (IMF) due this week. Argentina, which has been grappling with a severe economic crisis with sky-high inflation and falling central bank reserves, needed to avoid a default with the Fund, with maturities of $2.6 billion due on Monday and almost $800 million due on Tuesday. "I want to bring you peace of mind - Argentina is not going to use a single dollar of its reserves to pay today's maturity," Massa said in a televised speech. The challenge for Argentina now, he added, is to "continue to take care of the (foreign currency) reserves while maintaining the economic activity levels." Reporting by Eliana Raszewski and Gabriel Araujo; Editing by Bernadette Baum and Alexander VIllegasOur Standards: The Thomson Reuters Trust Principles.

Persons: Sergio Massa, Massa, Eliana Raszewski, Gabriel Araujo, Bernadette Baum, Alexander VIllegas Organizations: International Monetary Fund, Development Bank of Latin America, CAF, IMF, Thomson Locations: BUENOS AIRES, China, Buenos Aires, Argentina

The income Luis earns from his Airbnb rental is paid in dollars into a digital account on US payment platform Payoneer, he said. Argentine hosts on Airbnb can receive payments to a local or overseas bank account as well as Payoneer and Paypal, options on one host's account reviewed by Reuters showed and Airbnb confirmed. Airbnb told Reuters in a statement that guidance published on its website advised hosts to register their short-term rental properties with Argentine authorities. Argentine tax authority AFIP said that it "always encourages people to declare" income. The Buenos Aires tourism department told Reuters, however, that just 570 properties were listed on the city's register of short-term rentals in June.

Persons: Luis, Airbnb, Payoneer, AFIP, Ramiro Raposo, AIRBNB, Ariel Yeger, Gaston Levy, Gustavo, Ana Maria Ianni, Ianni, Anna, Catherine Brigida, Adam Jourdan, Suzanne Goldenberg Organizations: Reuters, Argentine, Paypal, Internal Revenue Service, PayPal, AirDNA, Airbnb, Peronist, Thomson Locations: BUENOS AIRES, Airbnb, Buenos Aires, Argentina, Argentine, United States, Senate's

☆ Argentina inaugurates key gas pipeline to reverse energy deficit
▼ + stars: | 2023-07-09 | by ( Candelaria Grimberg | ) www.reuters.com time to read: +2 min

SALLIQUELO, Argentina, July 9 (Reuters) - Argentina inaugurated on Sunday the first stage of a gas pipeline that will carry natural gas from the Vaca Muerta formation in western Argentina to Santa Fe province by way of Buenos Aires province, an essential work to reverse the country's significant energy deficit. It has the second unconventional gas reserves worldwide and the fourth in oil. The completion of the first stage of the gas pipeline, which starts in Neuquen province and reaches Buenos Aires province, adds 11 million cubic meters of gas per day. This will double when the compression plants are installed in Tratayen, in Neuquen province, and in Salliquelo, in Buenos Aires province. "We are no longer going to import gas in ships because we are going to use the gas from our subsoil."

Persons: Vaca Muerta, Sergio Massa, " Massa, Agustin Gerez, Candelaria Grimberg, Eliana Raszewski, Anna, Catherine Brigida, Diane Craft Organizations: Energia Argentina, Thomson Locations: SALLIQUELO, Argentina, Vaca, Santa Fe, Buenos Aires, Belgium, Patagonia, Neuquen province, Tratayen, Salliquelo, San Jeronimo

☆ Argentina delegation set to travel to US next week for IMF talks
▼ + stars: | 2023-07-07 | by ( Jorge Otaola | ) www.reuters.com time to read: +2 min

[1/2] A person walks by the Ministry of Economy building in Buenos Aires’ financial district, Argentina, July 4, 2022. REUTERS/Agustin Marcarian/File PhotoBUENOS AIRES, July 7 (Reuters) - The Argentine government will send a delegation next week to Washington in a bid to finalize the renegotiation of its $44 billion loan with the International Monetary Fund (IMF), a source involved in the talks told Reuters on Friday. The delegation had initially planned to travel as early as June. "The negotiation is fine, next week our team will be there (in Washington) all week. The government also this week postponed its $2.6 billion loan repayments for July until the end of the month, which include $1.3 billion that were due Friday.

Persons: Agustin Marcarian, Jorge Otaola, Rodrigo Campos, Eliana Raszewski, David Gregorio, Rosalba O'Brien Organizations: Ministry, REUTERS, International Monetary Fund, Reuters, Grupo SBS, ., Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, Argentine, Washington, America, New York

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