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☆ Dollarization would eliminate Argentina's future inflation risk, former IMF board member says
▼ + stars: | 2023-09-22 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Dollarization would end inflation risks in Argentina, said former IMF board member Mark Rosen. It wouldn't necessarily deal with the spending issue, but it would anchor monetary policy, and be a big positive change." But critics of Argentina's dollarization idea have previously pointed out that it would be handicapped by the shortage. But not every IMF official shares his take. Though the lender has not officially weighed in on dollarization, Argentina's economic situation does matter to it.

Persons: Mark Rosen, Javier Milei, Francisco Zalles, Argentina's, Rosen, Alejandro Werner Organizations: IMF, Bloomberg, Argentine, Service, International Monetary Fund, Ecuador dollarize, Advection Growth Locations: Argentina, Wall, Silicon, Buenos Aires, Ecuador, America, dollarization

☆ TikTok, memes and Musk: Argentina election goes viral
▼ + stars: | 2023-09-21 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsTikTok, memes and Musk: Argentina election goes viralPostedJavier Milei has shot to the top of the polls in Argentina's presidential election race with the help of social media, influencers, and maybe even Elon Musk. Rachel Faber produced this report.

Persons: Javier Milei, Elon Musk, Rachel Faber Locations: Argentina

"Social media is the new way of doing politics," said Eugenia Rolon, an 21-year-old influencer who describes herself as anti-feminist and fighter of a "cultural battle" against progressive ideas. Cerimedo said social media support for Milei was organic, and played down previous comments he made to local media that he had used AI-powered trolls. "Many people said Javier was going to do poorly because what happened on social media was my trolls," Cerimedo said. Agustin Romo, 27, a legislative candidate for Buenos Aires province with Milei's Libertad Avanza party, informally coordinates the social media team. "These are people who are contributing their grain of sand where they can, so that Argentina changes and Javier Milei becomes president," Romo said.

Persons: Javier Milei, Karina Milei, Agustin Marcarian, Elon Musk, Eugenia Rolon, Donald Trump, Jair, Milei, That's, Sergio Massa, Patricia Bullrich, Tucker Carlson, Bolsonaro, Diego Corbalan, Bullrich, Jeremias Madrazo, Madrazo, Massa, Inaki Gutierrez, Argentine, Fernando Cerimedo, Cerimedo, Javier, Carlson, Musk, overspending, Agustin Romo, Romo, Anna, Catherine Brigida, Adam Jourdan, Rosalba O'Brien Organizations: Argentine, La Libertad, REUTERS, Elon, YouTube, Reuters, Peronist, Buenos, Milei's Libertad, Thomson Locations: La Plata, Buenos Aires, Argentina, BUENOS AIRES, Massa, Milei's Libertad Avanza, Candelaria

☆ 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

☆ IMF's Argentina predicament: Seek reforms and tango on or kill the music
▼ + stars: | 2023-09-15 | by ( Jorgelina Do Rosario | ) www.reuters.com time to read: +7 min

But that programme failed to put South America's second-largest economy back on its feet. Even if he wins the Oct. 22 election and takes power in December, Milei would need alliances in Congress to push through reforms and a new IMF programme - Argentina's 23rd. That effort paved the way for the $57 billion programme, which ultimately failed and was replaced by the current one. Reuters Graphics Reuters GraphicsPREFERENTIAL TREATMENTThe current programme could end before its expiration in September 2024, but Argentina will still require funds. Without mentioning Argentina, the U.S. - holding the largest voting power in the Fund - recently raised its concerns.

Persons: Javier Milei, Agustin Marcarian, Mauricio Macri's, Mark Sobel, Milei, Sobel, Sergio Massa, Martin Muehleisen, Muehleisen, Nestor Kirchner, Stephen Nelson, Nelson, Walter Stoeppelwerth, Simon Quijano, Evans, Gemcorp Capital, Jay Shambaugh, Jorgelina, Karin Strohecker, Paul Simao Organizations: Argentine, La Libertad Avanza, REUTERS, IMF, International Monetary Fund, South, Peronist, Analysts, Graphics, Review Department, U.S ., Northwestern University, Reuters Graphics Reuters, Gletir SA, Gemcorp, Thomson Locations: La Plata, Buenos Aires, Argentina, Washington, U.S, Chicago, Zambia, Sri Lanka, Ghana, Egypt, Burundi, Saharan Africa, Rosario

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

☆ Argentina holds interest rate steady despite inflation spike
▼ + stars: | 2023-09-14 | by ( Jorge Otaola | ) www.reuters.com time to read: +2 min

The facade of Argentina's Central Bank is pictured in the financial district of Buenos Aires, Argentina December 7, 2021. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsBUENOS AIRES, Sept 14 (Reuters) - Argentina's central bank (BCRA) decided to hold the benchmark interest rate steady at 118% during their last board meeting, despite the country's inflation rate hitting an over 30-year high in August. Reuters reported the decision earlier on Thursday, with an official source saying the political cost of raising the key rate would be too high. Analysts at J.P. Morgan said on Wednesday they expect double-digit monthly inflation through to the end of 2023, by which time they expect the annual figure to hit 190%. The outcome of the uncertain Oct. 22 elections and repressed inflation created from price freezes could further exacerbate inflation, they added.

Persons: Agustin Marcarian, Javier Milei, Morgan, Jorge Otaola, Valentine Hilaire, Sarah Morland, Marguerita Choy, Leslie Adler, Josie Kao Organizations: Central, REUTERS, Reuters, International Monetary Fund, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, J.P

Each day things costs a little more, it's like always racing against the clock, searching and searching," said Laura Celiz as she shopped for groceries in Tapiales on the outskirts of Buenos Aires. "You buy whatever is cheaper in one place and go to the next place and buy something else." "In this way we try to beat inflation or at least compete with it a little," he added. "While the rest of the Latin American countries have single-digit inflation, Argentina is already in triple-digits." "People are angry and have every right to be because they can't afford to buy a kilo of meat."

Persons: Matias Baglietto, Laura Celiz, Fernando Cabrera, Javier Milei, Sergio Massa, Patricia Bullrich, Damian Di Pace, Massa, Butcher Marcelo Capobianco, Capobianco, Miguel Lo Bianco, Jorge Otaola, Claudia Martini, Walter Bianchi, Hernan Nessi, Lucila Sigal, Nicolás Misculin, Adam Jourdan, Chizu Nomiyama, Sandra Maler Organizations: Mercado Central, REUTERS, International Monetary Fund, Reuters Graphics Reuters, IMF, Business, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, Tapiales, Olivos

Persons: Matias Baglietto, Laura Celiz, Fernando Cabrera, Javier Milei, Sergio Massa, Patricia Bullrich, Damián Di Pace, Butcher Marcelo Capobianco, Capobianco, Miguel Lo Bianco, Jorge Otaola, Claudia Martini, Walter Bianchi, Hernan Nessi, Lucila Sigal, Nicolás Misculin, Adam Jourdan, Chizu Organizations: Mercado Central, REUTERS, International Monetary Fund, Reuters Graphics Reuters, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, Tapiales, Olivos

Argentina’s annual inflation rate rose to 124.4%, according to figures released by the government’s INDEC statistics agency Wednesday. “It’s the number that summarizes the tragedy left by Massa,” Patricia Bullrich, the presidential candidate for the main opposition coalition, wrote on social media after the inflation number was released. Political Cartoons View All 1157 ImagesRecent polls show Milei leading ahead of general elections on Oct. 22 with Massa in second place and Bullrich third. The high inflation rate is in large part a product of the government's devaluation of the local currency, the peso, by nearly 20% following the Aug. 13 primaries. Ponti said the sharp rise in prices had to do with a confluence of factors including the way that beef prices had largely remained frozen for months despite the inflationary economy.

Persons: Donald Trump, Sergio Massa, Javier Milei, “, ” Patricia Bullrich, Massa, ”, Martín Kalos, That’s, Diego Ponti, Ponti, Suchowieski, Milei, Juan Pedro Aquino, “ Massa, ” Kalos, Natacha Pisarenko Organizations: —, Massa, Epyca, ”, AZGroup, Milei, U.S Locations: BUENOS AIRES, Argentina, La Plata, Buenos Aires

☆ Argentina August inflation forecast at highest since 1991
▼ + stars: | 2023-09-11 | by ( Hernan Nessi | ) www.reuters.com time to read: +2 min

Argentina was already battling annual inflation near 115%, which is driving a painful cost of living crisis and pushing people into poverty. "August was the worst month, I would say in the last 25 years of Argentina's economy," Sergio Massa, Minister of Economy and presidential candidate for the ruling Peronist bloc, said in a recent television interview. Reuters Graphics Reuters GraphicsThe survey of 28 analysts polled by Reuters forecast monthly inflation for August ranging from 9.3% to a maximum 12.9%. Analysts also predicted inflation would likely remain in double figures for September. Reporting by Hernan Nessi; Writing by Valentine Hilaire; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Javier Milei, Sergio Massa, Eugenio Mari, Hernan Nessi, Valentine Hilaire, Josie Kao Organizations: Index, Peronist, Reuters Graphics Reuters, Reuters, Argentina's National Institute of Statistics, T Economic Advisors, Libertad y Progreso Foundation, Thomson Locations: BUENOS AIRES, Argentina

☆ 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

☆ Latest Messi tribute in Argentina recycles the joy from icon's big win
▼ + stars: | 2023-09-06 | by ( Juan Bustamante | ) www.reuters.com time to read: +2 min

GRAND BOURG, Argentina, Sept 5 (Reuters) - High school students in Argentina pieced together a massive mural of soccer superstar Lionel Messi out of thousands of recycled plastic bottle caps, with a video of the work of art shared widely online. But love for Messi seems to loom even larger. The new mural fills the floor of an open-air high school courtyard in the Grand Bourg neighbourhood, just outside the capital Buenos Aires. Sebastian Ramirez, a teacher at the school, posted a video clip on social media that went viral summing up a widely-held assessment of Messi's legacy. Video of the mural's making showed dozens of children hunched over a colour-coded design and boxes of bottle caps scattered around.

Persons: Lionel Messi, Messi, Sebastian Ramirez, Javier Milei, Pope Francis, Juan Bustamente, David Alire Garcia, Peter Rutherford Organizations: Thomson Locations: BOURG, Argentina, Argentine, Grand Bourg, Buenos Aires, Qatar, American

☆ Argentine priests defend Pope over politician's attacks
▼ + stars: | 2023-09-06 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsArgentine priests defend Pope over politician's attacksPostedPriests from poor districts in Buenos Aires are defending Pope Francis, after radical right-wing presidential candidate Javier Milei denounced the native Argentinian as an "imbecile" and "representative of evil." Jillian Kitchener has more.

Persons: Pope, Pope Francis, Javier Milei, Jillian Kitchener Organizations: Argentinian Locations: Buenos Aires

☆ Argentine priests defend Pope Francis over 'shameful' Milei attacks
▼ + stars: | 2023-09-05 | by ( Lucila Sigal | ) www.reuters.com time to read: +2 min

[1/4] Priests attend a mass to rebuff attacks on Pope Francis by presidential candidate Javier Milei, of La Libertad Avanza coalition, in the villa 21-24 neighborhood, in Buenos Aires, Argentina, September 5, 2023. REUTERS/Agustin Marcarian Acquire Licensing RightsBUENOS AIRES, Sept 5 (Reuters) - Priests from poor districts in Buenos Aires held a mass on Tuesday to defend Argentine Pope Francis after radical right-wing presidential candidate Javier Milei denounced him as an "imbecile" and "representative of evil". loading"He has called Pope Francis insults like an imbecile and worse things," said Buenos Aires priest Lorenzo "Toto" De Vedia, who noted the long-running insults have gained more notoriety as Milei's popularity grows. Pope Francis, 87, lived modestly when he was Archbishop of Buenos Aires, commuting by public transport and keeping a low profile when he went to help in deprived neighborhoods of the city. The worst economic crisis in decades has sparked anger with traditional politics and fueled the triumph of Milei, who led an August primary vote with 30%.

Persons: Pope Francis, Javier Milei, Agustin Marcarian, Argentine Pope Francis, imbecile, Lorenzo " Toto, De Vedia, Pope, José María, Pepe, Di Paola, Milei, Lucila Sigal, Miguel Lo Bianco, Anna, Catherine Brigida, William Maclean Organizations: La Libertad Avanza, REUTERS, Argentine, Argentina, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES

☆ Argentines protest resurgent far right in Buenos Aires
▼ + stars: | 2023-09-05 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsArgentines protest resurgent far right in Buenos AiresPostedTensions on the streets of Buenos Aires on Monday (September 4), as a crowd of people protested against Victoria Villarruel, the running mate of far-right candidate Javier Milei, accusing his La Libertad Avanza coalition of playing down atrocities during the country's brutal dictatorship.

Persons: Victoria Villarruel, Javier Milei Organizations: Victoria, La Libertad Avanza Locations: Buenos Aires

☆ Argentine Priests Defend Pope Francis Over 'Shameful' Milei Attacks
▼ + stars: | 2023-09-05 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +2 min

By Lucila SigalBUENOS AIRES (Reuters) - Priests from poor districts in Buenos Aires held a mass on Tuesday to defend Argentine Pope Francis after radical right-wing presidential candidate Javier Milei denounced him as an "imbecile" and "representative of evil". The former media 'shock jock' commentator has made a series of attacks on the pope, calling him an "imbecile who defends social justice", a "son of a bitch preaching communism" and "the representative of the evil one on Earth." "He has called Pope Francis insults like an imbecile and worse things," said Buenos Aires priest Lorenzo "Toto" De Vedia, who noted the long-running insults have gained more notoriety as Milei's popularity grows. Pope Francis, 87, lived modestly when he was Archbishop of Buenos Aires, commuting by public transport and keeping a low profile when he went to help in deprived neighborhoods of the city. To say that social justice is bullshit, excuse my language, when justice starts from the gospel," said Priest José María "Pepe" Di Paola during the mass.

Persons: Argentine Pope Francis, Javier Milei, imbecile, Pope Francis, Lorenzo " Toto, De Vedia, Pope, José María, Pepe, Di Paola, Milei, Lucila Sigal, Miguel Lo Bianco, Anna, Catherine Brigida, William Maclean Organizations: Reuters, Argentine, Argentina Locations: Sigal BUENOS AIRES, Buenos Aires

☆ As inflation soars, Argentines say they've seen this film before
▼ + stars: | 2023-08-30 | by ( Lucila Sigal | ) www.reuters.com time to read: +3 min

August monthly inflation is likely to top 10%, analysts say. He has pledged to dollarize the economy over time and shutter the central bank, blaming a "caste" of political elite for the economic crisis in boisterous tirades to cheering supporters who love his abrasive, no holds barred style. "The way I see it, these characters are focused on a certain sector, a sector of wealth, well-being, upper class. Argentina recently saw some scattered looting of shops and supermarkets, with over 100 arrests, though that has calmed down in recent days. Reporting by Lucila Sigal; Editing by Nicolas Misculin, Adam Jourdan and Alistair BellOur Standards: The Thomson Reuters Trust Principles.

Persons: Rickey Rogers, Roberto Gonzalez Blanco, Morgan, Javier Milei, Nora Marful, Milei, Sergio Massa, Patricia Bullrich, Fernando De la Rua, Jorge Del Teso, Lucila Sigal, Nicolas Misculin, Adam Jourdan, Alistair Bell Organizations: Supreme, REUTERS, Economy, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, Australia, 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

☆ Who is Argentina's presidential frontrunner, Javier Milei?
▼ + stars: | 2023-08-29 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsWho is Argentina's presidential frontrunner, Javier Milei? PostedArgentina's presidential election race has an unpredictable X factor: Javier Milei, a fiery and wild-haired libertarian who wears leather jackets, belts out rock songs to his supporters and calls his political opponents "thieves."

Persons: Javier Milei

☆ 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

☆ 'Coldplay dollar' and 'Qatar dollar' highlight Argentina's bizarre currency system as it weighs ditching the peso
▼ + stars: | 2023-08-27 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Argentina's economic burdens have spawned a number of dollar-peso exchange rates. They include a black market dollar rate, as well as the "Coldplay" and "Qatar" rates. There's an official rate, but also a "blue dollar" rate determined by an underground exchange of greenbacks that's free of governmental controls. So while the official peso rate stood at just under 350-per-dollar on Friday, the blue dollar rate was 715. AdvertisementAdvertisementOther exchange rates are not spin-offs designed to evade currency restrictions, but are actually organized by the government.

Persons: Coldplay, There's, Monica de Bolle, Javier Milei, de Bolle Organizations: Service, Qatar, Coldplay, Peterson Institute for International Economics Locations: Qatar, Wall, Silicon, Argentina

☆ Brazil's real, not the dollar, could be the solution to Argentina's currency turmoil, an economist says
▼ + stars: | 2023-08-23 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Argentina should peg the peso to Brazil's real, not the US dollar, to deal with exchange-rate instability and hyperinflation, an economist said. "If Argentina wants a currency peg so badly - Dollarization is after all just a peg - peg to Brazil," Robin Brooks said. "If Argentina wants a currency peg so badly - Dollarization is after all just a peg - peg to Brazil. AdvertisementAdvertisementSome market experts have also backed the idea of Argentina potentially adopting the US currency – economist Steve Hanke recently called for the nation to mothball its central bank and dollarize. Brooks' latest comments come after he suggested earlier that Argentina needs a recession to fix its crashing currency, not dollarization.

Persons: Robin Brooks, Brooks, Javier Milei, Steve Hanke Organizations: Service, Institute of International Finance, South, greenback Locations: Argentina, Brazil, Wall, Silicon, South American

☆ Argentina is already dollarizing - these businesses have switched to greenbacks as the peso is worth a fraction of a penny
▼ + stars: | 2023-08-23 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

And more businesses are accepting dollars as payment as the peso crashes. AdvertisementAdvertisementE-commerce giant MercadoLibre, consulting firm Accenture, software developer Globant, and fintech firm Ualá offer partial pay in greenbacks, according to reports. In addition to staff salaries, the private sector is increasingly accepting dollars as a form of payment as well. For example, US website firm GoDaddy stopped accepting Argentinian peso payments in June, changing to dollars. He also suggested Argentina would be better off pegging its currency to the Brazilian real instead of the greenback.

Persons: Javier Milei, fintech's, GoDaddy, ZonaProp, Robin Brooks Organizations: Service, Bloomberg, Accenture Locations: Wall, Silicon, greenbacks, Buenos Aires, Argentina

☆ Brazil's Lula in favor of Argentina joining BRICS bloc
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +3 min

SAO PAULO, Aug 22 (Reuters) - Brazilian President Luiz Inacio Lula da Silva said on Tuesday he wanted Argentina to join the BRICS group of emerging countries, as Brazil's neighbor struggles with a lack of foreign reserves. "It is very important for Argentina to be in BRICS," Lula said in a live broadcast on social media as he attends the bloc's summit in South Africa. Argentina, whose largest trade partner is Brazil, has previously said it intended to join the BRICS bloc. Lula also said he was in favor of other countries joining the alliance, mentioning Indonesia as a potential new member. "We do not want to be a counterpoint to the G7, G20 or the United States," Lula said.

Persons: Luiz Inacio Lula da Silva, Lula, Javier Milei, Ian Bremmer, Gabriel Araujo, Kylie Madry, Mark Potter Organizations: SAO PAULO, International Monetary Fund, South, U.S ., Thomson Locations: Argentina, BRICS, South Africa, Brazil, Russia, India, China, Indonesia, Babel, Eurasia, Saudi Arabia, United States

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