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Protests Erupt in Argentina Over Food Deprivation
Topic Started: Jul 21 2017, 06:24 AM (2,092 Views)
Che On The Rocks

Mr. V4R: yes, Boss. :cool:
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Wage Negotiations: BA Province Teachers Unions Reject New Offer From Governor Vidal
Quote:
 
The government offered the same yearly increase, but added a bonus for teachers who don't miss a day of class.
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La Plata, Buenos Aires Province. Teachers unions reject the proposal extended by the Vidal administration. (Photo via Telam)

Ongoing drought could slash 1% from GDP growth
Quote:
 
Rains are expected for the end of March. Economic activity, taxes and exports are at risk. Soy prices are rising but many say such compensation in relation to lower crop volumes will not be enough.
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A severe drought is affecting large parts of Argentina's Pampa region.Foto: Courtesy INTI

^^^ This happens because, under the Macri Regime, Argentina is not a Nation aymore, but a natural resources and financial neocolony. Read here, too.
Free Milagro Sala!
What happened to Santiago Maldonado?
What happened to ARA San Juan?
Mapuche Lives Matter!
Stop the political persecution in Argentina!
Stop the looting of Argentina!
Offline Profile Quote Post Goto Top
 
Che On The Rocks

UPDATE 1-Argentina economic activity expands 2.8 pct in 2017 vs 2016
Quote:
 
BUENOS AIRES, Feb 28 (Reuters) - Argentina’s economic activity expanded 2.8 percent in 2017 compared with the prior year, government statistics agency Indec said on Wednesday, marking a rebound from a biting recession in 2016.
That biting recession meant a 2.3% fall in 2016.

So, the combined growing of Macri's first two years was: (1-2.3/100)*(1+2.8/100)=1.004356

NOTHING! HALF A ONE PERCENT, IN ROUND NUMBERS!
Or: after two years, we are back to square one (2015).

Except that this 2017 economy is grounded on sectors very vulnerable to external contingencies:
The Worst Drought in 30 Years Adds to Argentina's Economic Woes
Quote:
 
+Economists cut growth forecasts as soybean estimates slump
+Farmers brace for worst crop since 2009 as dryness continues
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Current-account balance and fiscal balance are disastrous. What to do?

More debt, of course:
Selling Out Argentina’s Future—Again
Quote:
 
One of the hallmarks of the Cambiemos government so far has been a fast and furious return to international credit markets and a very substantial increase in new public debt. Indeed, since Macri came to power in 2015, Argentina has issued debt worth more than $100 billion. This marks a clear contrast to the Kirchner administrations, during which the emphasis was debt reduction.
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Source: Ministry of Finance, Argentina.

But even that has a limit:
Argentina's 100-Year Bonds Plunge
Quote:
 
+Amid rising U.S. rate prospects, traders dump long maturities
+‘International and local risk remains’ for nation’s economy
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Edited by Che On The Rocks, Mar 2 2018, 06:12 AM.
Free Milagro Sala!
What happened to Santiago Maldonado?
What happened to ARA San Juan?
Mapuche Lives Matter!
Stop the political persecution in Argentina!
Stop the looting of Argentina!
Offline Profile Quote Post Goto Top
 
Che On The Rocks

Besides of drought, another external contingency is American protectionism:

Argentine Producers Caught Up in Decision to Increase US Steel and Aluminum Tariffs
Quote:
 
Decision announced by US President Donald Trump is further to the more significant duties put on biodiesel exports.
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Chairman, CEO and President of Nucor John Ferriola and US Steel CEO Dave Burritt flank U. President Donald Trump as he announces that the United States will impose tariffs of 25 percent on steel imports and 10 percent on imported aluminum during a meeting at the White House in Washington, U.S., March 1, 2018. (Photo via Reuters / Kevin Lamarque)

"MAGA! MAGA!"
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"ERRR... MAKE ALCOA GREAT AGAIN! HA HA HA HA!"
Free Milagro Sala!
What happened to Santiago Maldonado?
What happened to ARA San Juan?
Mapuche Lives Matter!
Stop the political persecution in Argentina!
Stop the looting of Argentina!
Offline Profile Quote Post Goto Top
 
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