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☆ Exclusive: Peru eyes spending in protest zones, but fiscal goals 'non-negotiable' -minister
▼ + stars: | 2022-12-14 | by ( Marco Aquino | ) www.reuters.com time to read: +3 min

The political turmoil is increasingly threatening to derail Peru's economic stability, with ratings agencies warning of downgrades, blockades impacting major mines and protesters demanding Congress and new president Dina Boluarte step down. Amid warnings from ratings agencies about the economic impact of the unrest and possible elevated spending, Contreras pledged that fiscal responsibility would be maintained. Peru is aiming for a fiscal deficit of 2.5% of GDP this year and 2.4% next year. On Monday, ratings agency S&P cut Peru's outlook to negative from stable and warned about a possible ratings downgrade if the upheaval continued. Contreras said that he had spoken with S&P and Fitch and understood their concerns, but highlighted Peru's fiscal and monetary strength, which he said was a buffer for the economy.

☆ Peru declares state of emergency, seeks 18-months jail for Castillo
▼ + stars: | 2022-12-14 | by ( Marco Aquino | ) www.reuters.com time to read: +4 min

[1/7] Peruvian President Pedro Castillo addresses the audience during the opening of the VII Ministerial Summit on Government and Digital Transformation of the Americas, in Lima, Peru on November 10, 2022. The protests were sparked by the ousting of former President Pedro Castillo on Dec. 7 in an impeachment vote. Prosecutors on Wednesday said they were seeking 18 months of pretrial detention for Castillo, who has been charged with rebellion and conspiracy. He called on supporters to come to the jail, saying he should be released after the initial seven-day period of pretrial detention expires later on Wednesday. However, sources from the prosecutor's office and analysts said Castillo cannot be released while the Supreme Court resolves the prosecutors' request.

☆ Arid wheat fields and dead cows: a snapshot of Argentina's worst drought in decades
▼ + stars: | 2022-12-09 | by ( Maximilian Heath | ) www.reuters.com time to read: +4 min

The drought in Argentina has led to sharp cuts to the country's wheat harvest forecast and is threatening to derail corn and soy too. Russo said soil moisture levels were worse than the 2008/09 campaign, when the South American country produced only 31 million tonnes of soybeans, from 18 million hectares planted. Russo said that the current wheat crop forecast of 11.8 million tonnes, already slashed from an original 19 million tonnes, could be trimmed further. In 2008/09 the wheat harvest was 8.3 million tonnes. Reporting by Maximilian Heath in Navarro, Argentina Editing by Adam Jourdan and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Peru lawmakers vote to oust President Castillo after Congress shut-down threat
▼ + stars: | 2022-12-07 | by ( Marco Aquino | ) www.reuters.com time to read: +1 min

[1/6] Peru's President Pedro Castillo delivers a statement to the media along with Chile's President Gabriel Boric at the La Moneda government palace in Santiago, Chile, November 29, 2022. REUTERS/Ivan AlvaradoLIMA, Dec 7 (Reuters) - Peru's Congress voted to oust President Pedro Castillo in an impeachment trial on Wednesday, hours after he said he would dissolve the legislature by decree and threw the Andean country into a full-on constitutional crisis. Ignoring Castillo's attempt to shut down Congress, lawmakers moved ahead with the impeachment trial, with 101 votes in favor of removing him, six against and 10 abstentions. "The United States categorically rejects any extra-constitutional act by President Castillo to prevent Congress from fulfilling its mandate," the U.S. ambassador to Peru, Lisa Kenna, wrote on Twitter. Peru, which has gone through years of political turmoil, has seen major stand-offs between the president and Congress before.

☆ Uruguay's free-trade deal ambitions rattle South American trade bloc
▼ + stars: | 2022-12-06 | by ( Fabian Werner | ) www.reuters.com time to read: +2 min

At the meeting in the Uruguayan capital Montevideo, the leaders sought to pressure their host over plans for go-it-alone trade deals with China and the Trans-Pacific Partnership (TPP). "The solution is not for each one of us just to do our own thing," said Argentine President Alberto Fernandez, chiding Uruguay. One of the smallest economies in South America, Uruguay has been trying for years to conclude unilateral trade agreements that it considers more beneficial than Mercosur. Of course, if we go in a group it is much better," said Uruguayan President Luis Lacalle Pou. Paraguayan President Mario Abdo Benítez said Mercosur integration was "fundamental and strategic" but indicated flexibility on a demand Uruguay not move forward on trade deals without informing the others.

☆ Ambivalent Argentines want to be Messi but are more Maradona - author
▼ + stars: | 2022-12-03 | by ( Lucila Sigal | ) www.reuters.com time to read: +3 min

BUENOS AIRES, Dec 3 (Reuters) - Argentines aspire to be like clean-living Lionel Messi but in reality are more like flawed rebel Diego Maradona, an author says, as comparisons between the two great No. 10s become a dominant talking point of the Qatar World Cup. But only a World Cup would give him Maradona's stature. "People demand more from Messi because he's come on the scene to compete with and rival Maradona. "But unfortunately he needs to win here because in Argentina winning is what counts.

Small-scale copper miners are now challenging Big Copper for territorial control of rich deposits of the red metal. In Peru, artisanal mining permits have doubled to 80,000 since 2020, government records show. Peru's leftist administration presented a new framework for artisanal mining last week that declared artisanal mining is "as important" as big mining. "Where we have concessions we can't have (artisanal mining permits)," Rojas said. The number of valid artisanal mining permits in Tapairihua has fallen from 100 to 32 since May, according to government records.

☆ In South America's Andes, farmers pray for rain to end drought
▼ + stars: | 2022-11-25 | by ( Monica Machicao | ) www.reuters.com time to read: +2 min

[1/5] An indigenous woman raises her hands in prayer asking for rain in the Lloko Lloko community, in Tihuanacu, Bolivia November 23, 2022. REUTERS/Claudia MoralesTIHUANACU, Bolivia, Nov 25 (Reuters) - High in the mountains of the Bolivian Andes, farmer Alberto Quispe has one thing on his mind: rain. The drought has hit crops in Bolivia as well as in Argentina, Paraguay and Peru. In the Andean regions, drought in recent years has caused falling water reservoir levels in places like Chile and led to important glaciers retreating. Drought has hit crops like wheat and soy, including this year in major grains producer Argentina.

☆ Peru airport says firetruck on arranged drill before fatal collision
▼ + stars: | 2022-11-20 | by ( Marco Aquino | ) www.reuters.com time to read: +2 min

[1/2] A view shows a LATAM airline plane following a collision between a LATAM Airlines jet and a vehicle on the runway of Peru's Jorge Chavez International Airport, in Lima, Peru November 18, 2022. REUTERS/Sebastian CastanedaBUENOS AIRES, Nov 20 (Reuters) - The operator of Peru's capital airport said on Sunday that a firetruck involved in a dramatic and fatal collision with a LATAM Airlines (LTM.SN) passenger jet had been doing a pre-arranged emergency drill. On Sunday, Lima Airport Partners, which operates the airport, said in a statement on Twitter that the firetruck had entered the runway as part of an emergency response drill coordinated between the operator and the air traffic authority. "On Nov. 18, during the morning and until the beginning of the exercise, the firefighting team made all the necessary arrangements to execute the maneuver," the airport operator said. There is authorization to carry out an exercise, but it is outside the areas that currently have transit operations," he told radio station RRP on Saturday.

☆ 'I have no words': Ecuadoreans celebrate historic World Cup opener win
▼ + stars: | 2022-11-20 | by ( Alexandra Valencia | ) www.reuters.com time to read: +2 min

[1/5] Fans watch the open match Qatar v Ecuador during the FIFA World Cup Qatar 2022 in Ibarra, Ecuador November 20, 2022. REUTERS/Karen ToroQUITO, Nov 20 (Reuters) - Thousands of euphoric Ecuadoreans celebrated on Sunday in various cities around the South American nation after the country's historic victory against host nation Qatar in the opening game of the soccer World Cup. The game marked the first time a host nation had been beaten in a World Cup opener. The first round of Group A games will be completed on Monday with the game between the Netherlands and Senegal. Ecuador will play again on Friday against the Netherlands, while Qatar will face Senegal.

☆ Argentina agrees $5 bln China currency swap extension, President says
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: 1 min

BUENOS AIRES, Nov 15 (Reuters) - Argentina has agreed to expand its currency swap deal with China by $5 billion, the South American country's President Alberto Fernandez said on Tuesday, a move that would give it more firepower to defend the embattled local peso. Reporting by Eliana Raszewski; Writing by Adam JourdanOur Standards: The Thomson Reuters Trust Principles.

☆ Argentina's reserves under pressure again after soy export bonanza ends
▼ + stars: | 2022-11-08 | by ( Jorge Otaola | ) www.reuters.com time to read: +2 min

BUENOS AIRES, Nov 8 (Reuters) - The Argentine central bank's already depleted reserves are coming under renewed pressure, as grains exports from the South American nation have stalled following a soybean sales bonanza and a drought that is hitting wheat and corn. The country's central bank sold some $150 million on Monday, the largest daily fall in reserves since early August, traders told Reuters, adding to drops of some $368 million last week and $72 million the week before. It sold $145 million on Tuesday. Amid a slowdown in grains sales for the world's top exporter of processed soy and No. Reporting by Jorge Otaola; Writing by Adam Jourdan; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ South American fans bite their nails over World Cup chances - and inflation
▼ + stars: | 2022-11-06 | by ( Gabriel Araujo | ) www.reuters.com time to read: +3 min

That is pushing up costs from soccer stickers and jerseys to game time snacks and beer. "Prices are just too inflated," said 20-year-old Brazilian Breno Nery, who was buying popular collectible soccer stickers in a Sao Paulo mall. A pack of five stickers has doubled to 4 reais ($0.79) since the 2018 Russia World Cup. STICKER SHOCKThe World Cup will be played from Nov. 20 to Dec. 18 - late spring in the southern hemisphere, a change from the normal dates that fall in the region's winter. The World Cup even led Argentina to launch capital controls of overseas travel and spending dubbed as the "Qatar" FX rate, making travel to the Middle East nation even more expensive in local currency.

☆ EXCLUSIVE Argentina set to permit wheat export delays amid drought - sources
▼ + stars: | 2022-11-01 | by ( Maximilian Heath | ) www.reuters.com time to read: +2 min

A government source with direct knowledge of the matter said that measures to permit wheat shipment delays were "probable". Reuters GraphicsThe country's producers have already formally declared overseas sales of 2022/23 wheat of 8.9 million tonnes, official data shows. Argentina's domestic wheat consumption from the 2021/22 harvest totaled 7.6 million tonnes. Some 2 million tonnes of wheat were left unsold from 2021/22. There is an existing export cap of 10 million tonnes for the 2022/23 season's wheat harvest.

☆ Analysis: Argentina's embattled left hopes for Lula bump. That looks a long shot
▼ + stars: | 2022-11-01 | by ( Nicolás Misculin | ) www.reuters.com time to read: +3 min

President Fernandez, powerful Vice President Cristina Fernandez de Kirchner and Economy Minister Sergio Massa, all languish on around 30% positive image, according to an October survey by pollster Ricardo Rouvier & Associates. I don't think this will change the electoral scenario in Argentina at all," political analyst Sergio Berensztein told Reuters. Lula, after his win, wore a cap in support of VP Fernandez de Kirchner. President Fernandez meanwhile said Lula would make his first overseas visit to Argentina once in office, a reversal from cool ties under Bolsonaro between the trade partners. "I think this has more to do with politicians' views than the real effect of the election on actual people," he said.

☆ Paraguay artist who painted boots for Messi looks to bring color to World Cup
▼ + stars: | 2022-10-27 | by ( Daniela Desantis | ) www.reuters.com time to read: +2 min

ASUNCIÓN, Oct 27 (Reuters) - Lili Cantero, a 29-year-old Paraguayan artist famed for painting intricate and personal soccer boots for stars including Lionel Messi and Ronaldinho, is preparing a new colorful show of her work to take to the World Cup in Qatar. The Asuncion-born artist is painting some two dozen sets of boots, balls and canvases, many inspired by the Middle Eastern nation and its capital Doha, which will host national teams from around the world next month to compete for the World Cup crown. "Messi's boots marked a before and after," said Cantero, who wants to create her own sportswear brand and bring Paraguayan art to major global events. The boots will be presented within 3D structures that reproduce the eight stadiums that Qatar built for the World Cup in Doha, Lusail, Rayyan, Al Khor and Al Wakrah. "I have been working on this for three years and it is a great pride for me to represent my country at this World Cup," Cantero said.

☆ Giant new mural celebrates 'warrior' Maradona in Buenos Aires
▼ + stars: | 2022-10-24 | by ( Lucila Sigal | ) www.reuters.com time to read: +2 min

Artist Martin Ron works on a mural depicting late soccer legend Diego Armando Maradona, which will be presented on the anniversary of Maradona, the 30th of October, in Buenos Aires, Argentina October 19, 2022. REUTERS/Tomas CuestaBUENOS AIRES, Oct 24 (Reuters) - An Argentine artist has painted a giant mural of late soccer legend Diego Maradona in Buenos Aires to commemorate what would have been the World Cup winner's 62nd birthday at the end of October. He was a warrior, he went up against adversity, even all injured, he faced whatever came at him," Ron, 41, told Reuters. Ron said it was the largest mural of Maradona ever - around 45 meters (148 ft) high, similar in height to New York's Statue of Liberty. Ron added three stars to the mural to represent Argentina's two World Cup wins in 1978 and 1986 - and what he hopes will be another in Qatar this year.

☆ London's mayor slams global leaders for 'dragging feet' on climate
▼ + stars: | 2022-10-20 | 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: +2 min

London Mayor Sadiq Khan speaks during the opening of the C40 World Mayors Summit to bold action on climate change, in Buenos Aires, Argentina October 20, 2022. REUTERS/Tomas CuestaBUENOS AIRES, Oct 20 (Reuters) - London Mayor Sadiq Khan, speaking at a climate summit in Argentina, slammed global policymakers on Thursday for "dragging their feet" on environmental policy, amid fears that momentum to tackle climate change has stalled in the face of economic turmoil. Climate Change Conference, known as COP27, with concerns over fuel security and rising costs exacerbated by the war in Ukraine overriding climate goals. A report on Wednesday from global nonprofit research group World Resources Institute found that current global plans to fight climate change, known as nationally determined contributions, would fall well short of Paris Agreement targets. "The climate emergency isn't a tomorrow issue, it's right here today on our doorstep," Khan said.

☆ In Argentina, controls spawn soybean and 'Netflix' currency rates
▼ + stars: | 2022-10-19 | by ( Lucila Sigal | ) www.reuters.com time to read: +5 min

The blossoming of parallel foreign exchange rates has gained pace in recent weeks, becoming the target of memes online, one calling the array a "tutti-frutti". But it also reflects a serious risk the government faces to protect dwindling dollar reserves needed to pay back debt. The government and central bank argue that the controls are needed to protect foreign reserves and stabilize the economy. "All these different exchange rates shows a political desperation for dollars," said Eduardo Maehler, 37, a self-employed worker in Buenos Aires. "We know the cost of imposing these controls over time: it always ends in a very deep crisis," he said.

BUENOS AIRES, Oct 18 (Reuters) - International Atomic Energy Agency (IAEA) chief Rafael Grossi expects to return "soon" to Ukraine, he told Reuters on Tuesday, amid negotiations to establish a security protection zone around the Russian-occupied Zaporizhzhia nuclear power plant. The talks are seen as key to defusing concerns that have mounted since August about the risks of shelling at or near Zaporizhzhia, Europe's largest nuclear power station. Russia and Ukraine have both blamed each other for the shelling. The head of the IAEA, the U.N. nuclear watchdog, said that separate Russian threats to use nuclear weapons in Ukraine could not be ruled out but that it was "not an immediate possibility". "I believe that the possibility of Russia using nuclear weapons is not an immediate possibility.

☆ EXCLUSIVE Argentina central bank, hopeful on inflation, set to break tightening cycle -sources
▼ + stars: | 2022-10-14 | by ( Jorge Otaola | ) www.reuters.com time to read: +2 min

BUENOS AIRES, Oct 14 (Reuters) - Argentina's central bank is set to hold the benchmark interest rate steady at 75%, which would snap a tightening cycle since the start of the year, two sources said, with the entity hopeful that monthly inflation will slow in the months ahead. A second source with direct knowledge of discussions said the benchmark rate would for now remain unchanged. Argentina's monthly inflation in September came in at 6.2%, the official statistics agency said late on Friday, undershooting forecasts of a 6.7% rise and down from a peak of 7.4% in July. The bank has six directors who make key decisions, along with the president and two vice presidents. The benchmark rate had been 38% at the end of last year.

☆ Turning to garbage dumps to survive, Argentines feel the pain of 100% inflation
▼ + stars: | 2022-10-13 | by ( Lucila Sigal | ) www.reuters.com time to read: +3 min

BUENOS AIRES, Oct 13 (Reuters) - Argentines facing an inflation rate set to top 100% this year are grappling to survive, turning to recycling from garbage dumps or lining up to trade their belongings in barter clubs. He said an increasing number of informal workers would come to the waste dump to find any items they could sell in the struggle to survive. But in recent years it has slid from one economic crisis to another and has struggled to keep inflation in check. Pablo Lopez, 26, who works in a small recycling center, said that the scars of rising prices were clear to see. "This inflation is a madness, you can see it here with the people who come to work that inflation hits us all," he said.

☆ In land of Maradona and Messi, fans jostle for World Cup stickers
▼ + stars: | 2022-09-20 | by ( Lucila Sigal | ) www.reuters.com time to read: +2 min

In the birthplace of soccer legends Diego Maradona and Lionel Messi, signs in some shop windows read "no more stickers or albums", referring to the 2022 collectible sticker albums ahead of the November tournament in Qatar. Register now for FREE unlimited access to Reuters.com Register"It's frustrating not being able to find any," said Exequiel Claverie, a 38-year-old media professional and father of three children who are fans of local club River Plate. "I arrive home every day to (my children) saying: 'Hey dad, did you buy stickers?' Sticker manufacturer Italy's Panini says this year many adults are also collecting stickers, adding to demand. Register now for FREE unlimited access to Reuters.com RegisterReporting by Lucila Sigal; Editing by Nicolas Misculin, Adam Jourdan and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

☆ As war, drought hit global crops, Argentina gambles on GM wheat
▼ + stars: | 2022-09-20 | by ( Maximilian Heath | ) www.reuters.com time to read: +9 min

It was the first GM wheat strain in the world to receive such approval. No other global seed company has publicly endeavored to develop GM wheat since 2004, when giant seed maker Monsanto, now owned by Bayer AG, dropped plans to develop GM wheat that could withstand its weed killer Roundup. In 2020 he had threatened to halt wheat imports from Argentina after its government approved Bioceres' GM wheat. A new landmark is the recent approval in Nigeria, the only country to fully approve imports of HB4 wheat grains. Trucco said Russia's invasion of Ukraine and severe droughts in Europe and China had shifted the needle on drought-tolerant GM wheat.

☆ IMF staff back $4 billion tranche for Argentina, praise 'decisive' steps
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +2 min

Demonstrators sit near the National Congress as the senate debates the government's agreement with the International Monetary Fund (IMF), in Buenos Aires, Argentina March 17, 2022. REUTERS/Agustin MarcarianBUENOS AIRES, Sept 19 (Reuters) - The International Monetary Fund (IMF) has reached a staff-level agreement on Argentina's $44 billion extended fund facility arrangement,which should unlock nearly $4 billion in funds for the country, the lender said on Monday. Argentina, a major grains producer, struck a new IMF deal earlier this year to replace a huge failed program from 2018. "A subsequent period of FX and bond market volatility has been arrested following decisive policy steps to correct earlier setbacks and rebuild credibility." On Argentina's reserves, which have proven hard to rebuild, the IMF said that they should still rise by some $9.8 billion in the 2022-23 period, in line with program targets.

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