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Argentina returns to global debt markets after 15-years; Macri-nomics: 1)to take debt, debt, debt. 2)Panama.
Topic Started: Apr 20 2016, 04:15 AM (1,378 Views)
Che On The Rocks

W A Mozart
 
The socialists have created incredible misery throughout the continent, ....and by witnessing the above posts by Che, .....it will continue.
Excuse me. It's right-wing, conservative Mauricio Macri who has created -in only six months- incredible misery in Argentina. My "mind-numbing"[sic] posts prove that. :cool:

You are just deflecting the blame. :cool:
-----------------------------------------------
Robert Stout
 
Latin America suffers due to corruption, irrespective to political ideology....Corruption is a Latin American failing and cultural artifact.............. :oyvey
Yes, well...
...it takes two for Tango. :cool:
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!
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Che On The Rocks

Macri vetoes ‘anti-layoffs’ law
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Claims legislation ‘would lead Argentines into poverty’ as unions slam ‘anti-worker’ move
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President Mauricio Macri announces he will veto the anti-layoffs law flanked by Buenos Aires Governor María Eugenia Vidal yesterday.

short-term bonds
Lebac: gov’t sets limits for foreigners
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The Central Bank is limiting foreigners’ access to local notes amid concern that a surge in inflows will destabilize the country’s currency market, after the bonds were recommended by Citigroup, JPMorgan and Bank of America.
^^^It's called "financial bike". Bring your dollars, convert them to pesos, buy lebacs. Collect the main plus huge interests (+35%!!!!!!!!!), convert everything to dollars again, and flight them to Panama. :cool:
With the lebacs, who is going to invest in the real economy?

Argentina's Macri Spikes Utility Costs by 500% then Asks the Poor to Take Shorter Showers
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Macri's policies have led to 1.4 million people being pushed back into poverty, with a further 350,000 more people now suffering extreme poverty.

The Argentine government of right-wing president Mauricio Macri is suggesting people take shorter showers and wear their coats indoors after the government jacked up the price of utilities.
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Argentine President Mauricio Macri (R) followed by Finance Minister Alfonso Prat-Gay (L) and Chief Cabinet Marcos Pena walks in the presidential residence in Buenos Aires, Argentina, May, 6, 2016. | Photo: Reuters

Macri apologizes for ‘heavy burden’ of austerity
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President again launches long-delayed Belgrano Plan as he inaugurates housing programme
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President Mauricio Macri heads a rally in the small city of Calilegua in Jujuy province yesterday.

But it seems like apologies are not enough, because for the first time, Macri's negative image is bigger than his positive image: :cool:
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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

Argentina's Macri kills layoff bill in 1st legislative challenge
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Argentine President Mauricio Macri vetoed a bill aimed at preventing layoffs on Monday, in his first legislative clash with Congress since being elected on a pro-business platform.
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But with 2017 mid-term elections approaching, the veto showed a president unable to frame the public agenda and block opposition proposals before they reach his desk.

"He needs inflation to fall faster and growth to come back sooner. If not, his governability will be materially affected come 2018, after the mid-term elections," said Alberto Bernal, chief market strategist at U.S.-based XP Securities.


How Panama Papers May Become a Boon for Cash-Strapped Argentina
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When leaked Panama Papers listed President Mauricio Macri of Argentina as the director of an offshore shell company, he found himself on the front page of the world’s newspapers for all the wrong reasons.

But the documents may ultimately prove to be a blessing for his cash-strapped government and its ability to repay debt.

Macri’s administration plans to announce a tax amnesty this year with the aim of persuading Argentines to repatriate some of the estimated $400 billion they hold abroad. That effort is likely to get a boost from the leak of the more than 11 million documents from Panama law firm Mossack Fonseca as it showed that at least 270 Argentines held shell companies outside of the country. In 2014, Argentina also gained access to information about HSBC Holdings Plc’s operations in Switzerland that revealed 4,000 bank accounts belonging to Argentines.

To avoid facing stiffer penalties, tax evaders could bring back as much as $60 billion over the next two years -- a much-needed boost at a time when foreign reserves have fallen to almost half of what they were five years ago, according to Balanz Capital. While Argentina was able to borrow a record $16.5 billion issuing bonds this year, the country is headed for a recession and faces a budget deficit.
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"BOYS! BOYS, PLEASE! BRING BACK THE MOOLA! DON'T DO LIKE ME!"

‘Macri can’t rely on miracles’
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Columbia University economist Martín Guzmán questions Macri’s first measures

Argentine economist Martín Guzmán has been working at Columbia University alongside US Nobel Prize laureate Joseph Stiglitz. They have published several papers and articles, the last one in January, warning about the effects of President Mauricio Macri’s economic policies.

In Buenos Aires to teach classes, Guzmán talked to the Herald and questioned the national government’s lack of action following the devaluation.

Guzmán claimed purchasing power has dropped and the recession worsened in the last few months. At the same time, he said the Macri administration shouldn’t rely only on foreign investment and said Kirchnerism left a “weak” economy.
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The government is constantly claiming there will be more investment in Argentina in the coming years. Do you believe that’s the case?

Foreign direct investment won’t be the reason of economic growth. Even if investments come, there are plenty of domestic issues that have to be dealt with. What appeals to investors is the recovery of the capacity to grow and that comes before the investments. The appetite to invest will depend on the economic perspectives.
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Economist Martín Guzmán talks to the Herald at the University of Buenos Aires Economic faculty.

‘Core’ inflation not declining, economists say
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Report by Frigerio-linked consultancy firm clashes with optimism inside Central Bank
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Central Bank chief Federico Sturzenegger refuses to give an inflation target for 2016.

Job instability ‘alarming,’ says Church
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Synod warns gov’t not to turn a deaf ear to workers as ‘fragility’ of labour market worsens
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Church leaders hold mass during a ‘social’ summit in Mar del Plata, Buenos Aires province, yesterday.

Church leaders prepare special sermon for Macri
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President expected at traditional celebration as Cáritas opens up 25 new soup kitchens

Growing tension between the national government and the local hierarchy of the Catholic Church over the social impact of austerity measures will be on public display today at the Buenos Aires Cathedral, as Mauricio Macri attends the traditional Te Deum ceremony, marking the May Revolution, for the first time as president.
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Members of social organizations marched down 9 de Julio Avenue in downtown Buenos Aires last night ahead of a sit-in protest in Plaza de Mayo today.
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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