Buenos Aires Weather | What We Learned This Week: April 16-23


NO DRESS ADVICE

Once the deadline to restore the Judicial Council to its original 1998 format expired on Monday, there were continued twists and turns throughout the week. First, the Supreme Court dismissed the challenge to its authority by Federal Judge of Paraná Daniel Alonso, who ruled against the admission of parliamentary representatives, Chief Justice Horacio Rosatti setting in motion the Extended Council under his leadership while Kirchnerite leaders stammered against an “institutional coup”. .” Then, on Tuesday evening, Vice-President Cristina Fernández de Kirchner found a sui generis way out of the impasse by splitting his own Frente de Todos caucus to create a new second minority with Martín Doñate de Río Negro of the fledgling Unidad Ciudadana eventually emerging as the fourth senatorial representative (along with three from the Kirchnerite quartet) – the opposition turn to protest. The Council ended on Wednesday with Congress President Sergio Massa following a more conventional procedure, accepting the opposition proposal of Deputy Roxana Reyes (Radical-Santa Cruz) as a representative of the lower house, although that the leader of the Frente de Todos caucus, Germán Martínez, has said that he will legally challenge this choice, while the four new representatives for lawyers, magistrates and academics (all women to improve the gender balance ) have taken the oath. On Thursday, Fernández de Kirchner proposed expanding the Supreme Court to nine judges and friction continued until yesterday.

BARGAIN BONUS

During a press conference on Monday, President Alberto Fernández and Economy Minister Martín Guzmán announced a bonus of 18,000 pesos over two months for informal workers, lower categories of self-employed and domestic workers, as well as a one-time payment of 12,000 pesos for retirees with less than twice the minimum pension, a package totaling 200 billion pesos and reaching 13 million people. The bonus is to be funded by a windfall tax, which is still awaiting full details and approval from a deadlocked Congress – Guzmán limited himself on Monday to saying it would only apply to companies whose annual profits exceed one billion pesos, 3.2% of the total according to its data. But seeing themselves as the main beneficiaries of the war in Ukraine, farmers today called a protest by city center tractors against the new levy.

MARKET WATCH

The parallel “blue” dollar jumped eight pesos over the past week, closing yesterday at 203 pesos after hitting 195 pesos on Maundy Thursday. The official exchange rate has risen from 118 to 119.50 pesos, according to Banco Nación, or 197 pesos if the 65% surcharges for savers and tourists are included. The parallel but legal CCL (contado con liquidation) and Member of the European Parliament (pago electronic media) were both in the 205-206 peso range after closing Easter week at 191.33 and 190.36 pesos respectively. Country risk had fallen below 1,700 points the previous week at 1,689 points, but rose above it to close yesterday at 1,730 points.

OAS WITHDRAWAL

The Organization of American States (OAS) on Thursday voted to suspend Russia as a permanent observer until it ceases hostilities against Ukraine, with Argentina one of eight countries that s abstain, including the other two Latin American heavyweights, Brazil and Mexico. There were 25 votes for with Nicaragua absent. Argentina pointed out that Britain was also an observer and no one was proposing their suspension, despite being an unwanted presence in the region.

MACRI REVIEW

During a lecture tour at Georgetown University in Washington DC, former President Mauricio Macri was very critical of his successors, saying: “When you print money like in Argentina, the result is the out-of-control inflation we have” and responding to questions about his own candidacy by saying, “My only concern is to consolidate the unity of Juntos por el Cambio, to clarify our goals of returning to power and commit ourselves to doing what needs to be done to move the country forward. Claiming that the United States have retained their faith in Argentina despite their complicated present, he said: “They know we can get back to the path we had between 2015 and 2019 and they are waiting for that.” He also criticized foreign policy with Venezuela and Russia, concluding that “populism is very dangerous.”

LASSO IN TOWN

President Guillermo Lasso ended Monday with the most newsworthy item, his cautious response to host President Alberto Fernández’s proposal to restore full diplomatic relations with Venezuela. Otherwise the main theme was regional unity with Lasso also hooking up local Toyota executives for investments in his own country and congratulating his “very brave” host on having a son this month. Argentina has a comfortable trade surplus with Ecuador with more than $504 million in exports against $313 million in imports.

ALPEROVICH IN COURT

Former Tucumán Governor and Senator José Alperovich appeared before Judge Osvaldo Rappa on Wednesday and predictably denied sexually abusing his niece between 2017 and 2019. Rappa now has 10 days to decide to judge it or not. Prosecutors admitted the case could be complicated by the inevitable lack of witnesses. Alperovich’s request to have the case tried in Tucumán has already been denied by the Supreme Court.

‘THANK YOU, MARCELO’

Dumped as Leeds United manager last February after four years following a long Premier League losing streak to which he restored the club, Marcelo Bielsa, 66, was the recipient of a moving message from grateful fans published in The Capital of Rosario (his hometown) last Saturday under the title “Thank you Marcelo” with the text translated into Spanish. “You have given us so much more than football. You have guided us through a pandemic…you have shown us that integrity and decency matter,” read parts of the message from fans, who paid for advertising space. .

WOMEN’S POLO CROWN

Argentina’s women’s polo team convincingly beat their American rivals 6-2 in an eight-man chukker final last Saturday to claim the inaugural Women’s Polo World Cup on home soil at Campo Argentino de Polo in Buenos Aires. Their youngest player was also the best with 16-year-old Catalina Lavinia scoring a hat-trick. England completed the podium by beating Italy with a last-minute goal. The inaugural Women’s Polo World Cup kicked off on April 9.

RUGBY OVERVIEW

Puma rugby great Juan Manuel Leguizamon, 38, the last active player in the team that finished third in the 2007 World Cup, announced his retirement on Thursday. The flanker Leguizamon has played in four World Cups, won 87 caps and scored 13 tries during his playing career. In other rugby news, Argentina won their first World Series Sevens tournament in over 13 years beating Fiji 29-10 in the Vancouver final, while on Thursday Scotland announced a tour of July in Argentina in which they will face Pumas three times with all tests. matches played in stadiums in the northwest.

related news

Previous Waterstone Financial (NASDAQ: WSBF) Releases Quarterly Earnings Results, Beats Expectations by $0.07 EPS
Next KKR Real Estate: Stable Stock, High Yield, Static Price Performance (NYSE: KREF)