Tag Archives: Argentina

UPDATE 1-New Argentina government aims to dismantle currency controls Dec 14

BUENOS AIRES The government of Argentina’s president-elect Mauricio Macri mentioned Sunday that it will seek to dismantle a series of capital controls propping up the peso as quickly as possible, aiming for December 14 if the central bank is beneath new management.

Macri has previously demured on providing details on his technique to lift outgoing president Cristina Fernandez’ so-called “clamp-down” on dollar purchases that has created a multi-tiered exchange price, saying he should 1st take a close appear at the true state of national accounts.

But incoming finance minister Alfonso Prat-Gay said in an interview with 3 local dailies that doing so was a prime priority to tackle soon right after the transfer of power Dec. 10, despite the possibility of a sharp devaluation.

“The program to unify the currency market place is the 1st signal for the economy to commence to normalize. We’re going to fulfill that guarantee as quickly and as exhaustively as feasible,” Prat-Gay was quoted saying in newspapers La Nacion, Perfil and Clarin.

“If we can do it the 14th, we’ll do it the 14th, and if not, we’ll do it as soon as we see the correct conditions,” he stated.

Prat-Gay stated currency reform could most likely only start as soon as a new central bank chief assumes energy and it is clear there will be a enough supply of dollars. He added that he hopes to make an announcement soon on a new source of tough currency that will assist the bank restore its dwindling reserves.

Present capital controls incorporate strict limits on dollar savings, restrictions on imports and a hefty tax on credit card use abroad.

Prat-Gay did not specify whether or not the government would seek to undo the controls all at as soon as or bit-by-bit. He could not be reached for comment Sunday.

Prat-Gay was international head of foreign-exchange analysis at JP Morgan in the late 1990s before top Argentina’s central bank among 2002 and 2004. Macri picked him to help him end more than a decade of cost-free-spending populism that has hobbled growth and stoked inflation in Latin America’s third biggest economy.

Central bank president Alejandro Vanoli is anticipated to resign in coming days, under pressure from Macri to make way for a currency devaluation to spur exports and halt the drain on central bank reserves utilised to prop up the peso.

Macri plans to appoint former Buenos Aires city bank chief Federico Sturzenegger to head the bank.

(Reporting by Juliana Castilla Writing by Mitra Taj Editing by Mark Potter and Andrew Hay)

New Argentina government aims to dismantle currency controls Dec 14 – newspapers

BUENOS AIRES Argentina’s incoming finance minister, Alfonso Prat-Gay, will aim to lift currency controls and unify the country’s multi-tiered exchange rate from Dec. 14, a few days after the new government assumes power, Prat-Gay told local media Sunday.

“If we can do it the 14th, we’ll do it the 14th, and if not, we’ll do it once we see the right conditions,” Prat-Gay was quoted saying in local dailies La Nacion, Perfil and Clarin.

President-elect Mauricio Macri picked Prat-Gay, a former JP Morgan executive and ex-central bank chief, to help him end more than a decade of free-spending populism that has hobbled growth and stoked inflation in Latin America’s third largest economy.

Prat-Gay said he would only be able to start dismantling years of restrictions on dollar purchases after a new central bank president assumes power.

“Lifting currency controls with current (central bank) authorities would be very hard,” Prat-Gay was quoted saying.

Macri plans to name former Buenos Aires city bank chief Federico Sturzenegger as the new head of the central bank after leftist president Cristina Fernandez’s term ends on Dec. 10.

Macri has called the current central bank president, Alejandro Vanoli, to step down to make way for currency devaluation to spur exports and halt the drain on central bank reserves used to prop up the peso. Vanoli has said he may resign in coming days.

Prat-Gay also said that he hopes to make an announcement soon on a new source of hard currency that will help the central bank restore its dwindling reserves.

(Reporting by Juliana Castilla; Writing by Mitra Taj; Editing by Mark Potter)

Argentina arrests Syrians traveling on false Greek passports

BUENOS AIRES Authorities in Argentina arrested six Syrians who flew into the South American country on false Greek passports, a spokesman for the federal police told Reuters on Saturday, adding that the bogus travel documents have been almost certainly obtained in Turkey.

The six, such as a single minor, had been taken into custody at a downtown Buenos Aires hotel on Friday right after landing at the city’s Ezeiza International Airport on Thursday, the spokesman stated.

A spate of detentions in South and Central America more than current weeks show the area has grow to be a route for Syrians fleeing war in their homeland.

Less than three weeks ago, five Syrian men who had paid smugglers $ 10,000 every single to travel by way of Brazil, Argentina and Costa Rica had been detained in Honduras as they attempted to head north to the United States.

These arrested on Friday had been unarmed and charged only with making use of false travel documents, stated the spokesman. A court hearing has been set for Wednesday, as Monday and Tuesday are public holidays in Argentina. The detainee under the age of 18 was undergoing psychological counseling.

“No far more information will be released until they make statements ahead of a judge,” said the spokesman, who did not disclose the origin of the flight the Syrians took to Ezeiza.

“They are becoming really cooperative,” he mentioned.

The earlier instances sparked alarm among some U.S. lawmakers right after it emerged at least 1 of the attackers involved in the deadly shootings and suicide bombings in Paris final month could have entered Europe amongst migrants registered in Greece.

In October Brazil detained eight Iraqi nationals who police stated were traveling on false Greek passports they had obtained in Turkey. A trickle of immigrants also attain the U.S. land border from other countries fighting Islamist insurgencies.

(Extra reporting by Richard Lough and Juliana Castilla Editing by Chizu Nomiyama)

Agen Sabung Ayam

Opposition Leader Mauricio Macri Wins Argentina Presidential Election

BUENOS AIRES — Argentine voters handed a victory to Mauricio Macri in the country’s presidential election on Sunday, delivering a mandate to an opposition political figure looking for to roll back some of the protectionist economic measures of the departing president, Cristina Fernández de Kirchner.

With votes from 96 percent of polling areas counted, Mr. Macri, the mayor of Buenos Aires and a former president of Boca Juniors, 1 of Argentina’s most well-known soccer teams, was leading with 51.8 % of the vote, according to election officials, against 48.2 % for Daniel Scioli, a former speedboat racer and vice president under former President Néstor Kirchner, who died in 2010. Mr. Scioli conceded defeat on national television on Sunday night.

Operating a largely nonconfrontational campaign in a society that has grown increasingly polarized under Mrs. Kirchner, who succeeded her husband in 2007, Mr. Macri, 56, stunned the political establishment in October by forcing the race into a runoff and sustaining his surge in recent weeks. He ran to the right of his rivals, blending plans to overhaul the economy and promote the tolerance of different points of view on social concerns.

Mr. Macri’s relatively narrow victory revealed deep fissures in Argentina after 12 years of governance by Mrs. Kirchner and her husband, with numerous voters expressing concern over the direction of the economy and frustration with Mrs. Kirchner’s blistering attacks on critics in the news media, enterprise establishments and rival political parties.

“Cristina divided the country and destroyed it morally,” mentioned Dimitri Javakhishvili, 67, an immigrant from Georgia who operates as a doorman at a creating here in the neighborhood of Recoleta. Mr. Javakhishvili acknowledged that Mr. Macri could face challenges in attempting to govern when Mrs. Kirchner’s political movement moves into the opposition.

Still, Mr. Javakhishvili stated, “At least he’s anything new he’s one thing fresh.”

Not absolutely everyone right here shares such views. Graffiti and posters have appeared across Buenos Aires demonizing Mr. Macri, outnumbering on a lot of streets the campaign posters expressing support for Mr. Scioli, who balanced lukewarm support from Mrs. Kirchner’s loyal followers with claims that social spending could be sustained despite galloping inflation and declining private investment.

One particular instance of anti-Macri sentiment, alluding to fears that he will govern for a privileged couple of, simply says “Macrisis.”

Mr. Macri, the scion of a wealthy family, has attempted to combat perceptions that he would reverse the government’s leftist policies, saying he will keep the nationalized businesses like Aerolíneas Argentinas and YPF, Argentina’s biggest oil business, below state manage. His economic advisers have also sought to tamp down fears around contentious economic troubles like a potential currency devaluation.

In addition to grappling with inflation and currency controls aimed at curbing capital flight, Mr. Macri will now face the challenge of governing with considerably of his opposition beneath the sway of Peronism, the ideologically diverse political grouping that has dominated Argentine politics for decades.

However while Mrs. Kirchner’s leftist faction has emerged as a dominant group inside Peronism, with the president herself signaling that she planned to stay politically active right after stepping down in December, Mr. Macri’s margin of victory will aid him in the months ahead, analysts mentioned.

“He will be able to start off to operate with authority,” said Juan Cruz Díaz, a director at the Cefeidas Group, a political threat analysis firm. But he added that Mr. Scioli’s performance nevertheless demonstrated the underlying strength of the Peronist political movement. “It’s not a devastating margin of difference,” Mr. Cruz Díaz said. “With a fatigued government and an erratic campaign, it is a good performance. They are far from dead.”

Several political analysts in Argentina doubted that Mr. Macri would make it this far, with skepticism abounding when he started assembling his movement to the right of numerous rivals more than a decade ago.

He ventured into a part of Argentina’s political spectrum that had previously been associated with conservative Peronists or disgraced figures in the military establishment.

But over time, he honed his negotiating capabilities as the mayor of Buenos Aires, even though insisting during this year’s campaign that he did not program to roll back popular social programs introduced during the Kirchners’ presidencies, like money subsidies for poor households and “Soccer for Everyone,” a government initiative that covers soccer broadcasting costs so folks can watch matches cost-free.

Mr. Macri seemed to obtain the upper hand right after mounting a door-to-door campaign that helped his supporters win crucial provincial and neighborhood races in October, including the prized post of the governor of Buenos Aires Province, now held by Mr. Scioli but won by María Eugenia Vidal, a leading adviser to Mr. Macri and deputy mayor who focused largely on antipoverty applications in the municipal government.

Many voters have also expressed fatigue with Mrs. Kirchner’s governing style and reports of corruption amongst her prominent supporters.

Signaling that she could not strategy to stay subdued right after leaving office, Mrs. Kirchner issued a torrent of messages on Twitter on Sunday celebrating her foreign and domestic policies. A single message even seemed like a warning to Mr. Macri, who has vowed to improve Argentina’s strained ties with the United States and evaluation a contentious deal with China to construct a nuclear reactor.

“The individual with the duty of major the homeland must know the proper place of the Argentine republic in a multipolar globe,” Mrs. Kirchner wrote.

Mr. Macri’s “wager wasn’t an straightforward one,” the Argentine writer Martín Caparrós wrote in the Spanish newspaper El País. But Mr. Macri’s ambitions had been aided, Mr. Caparrós mentioned, by “12 years of rule by a couple that spoke as if from the left but acted in their own interests.”

Some voters, nonetheless, said that their fears over the threats to the government’s antipoverty applications outweighed criticism of the Kirchners or concerns that Mr. Scioli, viewed as friendlier to the organization establishment, was not as radical as they had hoped.

“I’m voting for the lesser of two evils,” stated Teo Levín, 25, a healthcare student who explained that he was voting for Mr. Scioli with gritted teeth. “I comprehend that Scioli will adopt come conservative economic policies, but he won’t destroy the political model. Macri will. He’s the worst factor in the planet.”

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Bandar Sabung Ayam

Agen Sabung Ayam – In Argentina, a Quiet Data Cruncher Aims to Bring Sense to a Raucous Election

Agen Sabung Ayam

Photo

Andy Tow, who says he has an â??addictionâ? to statistics, at the National Congress. Argentines will elect a president on Sunday. Credit Anibal Greco

BUENOS AIRES â?? With his fusty corduroy blazer, diffident mien and unpolished web site, Andy Tow, an anonymous civil servant with a flair for data crunching, is emerging as an unlikely rock star of Argentinaâ??s election season.

Mr. Tow, 45, spends his days assisting a congressman, frequently performing mundane tasks like answering phones or booking flights. But in the evenings, he morphs into a prodigious statistician who tells the complicated stories of domestic politics by turning raw data into online graphics. This uncommon pursuit has been winning Mr. Tow influence â?? and some ire â?? amongst scholars, pundits and, now, even voters.

â??Itâ??s an addiction I do it all for artistic really like,â? he stated more than lunch at a coffee shop opposite the congressional palace right here. â??It utilised to be more underground. I in no way gave it significantly publicity. Iâ??m just mad about computing and numbers.â?

As Argentines muse on a tight race for the presidency just before they go to the polls for a runoff election on Sunday, Mr. Towâ??s passions and, much more lately, his Twitter account are catapulting him beyond his usual niche audience to a wider public.

â??I like the way he uses scientific criteria to analyze the progress of the election race,â? stated Lisardo Versellino, 56, an administrative worker who found Mr. Tow on Twitter. â??It contrasts with the mainstream news media, which trivializes and simplifies the dispute for power.â?

Numerous Argentines are now turning to Mr. Tow and his digital maps demonstrating voting trends for assist deciphering the political landscape. Peers have described his operate as â??titanic,â? and fan mail litters his inbox.

â??Itâ??s like heâ??s clearing a path by means of the election seasonâ??s din of opinions,â? mentioned Jimena Cufré, 23, a university student who 1st discovered of Mr. Tow when she saw him on television.

Mr. Towâ??s rise to prominence reflects paradigm shifts more than recent years in political science and other fields, like business, exactly where demand has boomed for the harnessing of computersâ?? expanding sophistication to choose out trends from abundant data.

In Argentina, however, political scientists have lagged in this respect. There is a preference among scholars here for philosophical discussion, according to Ernesto F. Calvo, an Argentine politics professor at the University of Maryland.

â??Thereâ??s an massive deficit of systematic statistical evaluation in Argentina,â? Mr. Calvo said. â??Heâ??s the only one particular filling the gap.â?

This recognition is a lengthy way from the prolonged lull Mr. Tow skilled about 13 years ago when he was sent to operate assisting an idle congressional committee that investigated money outflows from Argentina.

â??I spent several hours alone in the office waiting for anything to take place,â? he mentioned. â??I wasnâ??t going to waste my time or watch pornography when I could be carrying out something valuable.â?

By 2008, Mr. Tow said, a map he made, which depicted patterns of road blockades by farmers protesting moves to raise taxes, was being cited by the local news media. He would later support develop a common internet site revealing how Argentinaâ??s federal lawmakers have voted on a variety of concerns. Mr. Tow also worked for far more than a decade unraveling and visualizing voting data as he compiled a so-referred to as electoral atlas â?? but it received only muted applause.

These days, Mr. Tow has no problems attracting consideration to his operate. His graphics have grow to be so extremely regarded this election season that when he restricted access to his websiteâ??s archive this year, he received 4,000 emails requesting the password. And a political news internet site lately paid him far more than $ 2,000 to syndicate his charts and maps.

The dynamics of the presidential election campaign, including President Cristina Fernández de Kirchnerâ??s stepping down since of term limits and the oppositionâ??s momentum, have also fueled wide interest in his work.

His success has come even as statisticians here have been stymied by faulty official information, particularly unreliable financial information like inflation measures for which Argentina was scolded by the International Monetary Fund, and unavailable poverty estimates.

This month, Mr. Tow started an election simulator, which permits Argentines to permute the distribution of the far more than seven million swing votes that Daniel Scioli, the candidate for Mrs. Kirchnerâ??s governing party, or Mauricio Macri, who is top the opposition, need to win in the runoff.

Some users of the simulator have identified it captivating adequate that one well-liked pundit, Juan Pablo Varsky, equated it to an addictive drug.

Like numerous other posts on Mr. Towâ??s website, the concept came to him whilst he was loafing about at residence.

â??I designed the simulator since I was bored on Saturday night,â? stated Mr. Tow, a politics graduate and self-taught laptop programmer.

He mentioned he was inspired by a equivalent tool that was common in the course of Franceâ??s runoff election in 2012. â??I remembered that and thought, â??Why donâ??t we attempt a single now?â?? â? he mentioned.

But it was a poll aggregator, known as La Borra, that thrust Mr. Tow into the spotlight. He started it as Argentines obsessively debated whether or not Mr. Scioli would beat Mr. Macri by a huge adequate margin in a first round of elections, held final month, to avoid the runoff.

Mr. Tow, whose full initial name is Andrés, collated the results of more than 20 pollsters, regularly updating La Borra as new polls had been released. The aggregator rapidly became well-known amongst politics buffs and economists.

In the previous, Mr. Tow, a timid man, had relished calculating algorithms and researching mapping systems from the obscurity of his living space, accompanied by his cat.

When he did promote his operate, it was among a devoted following of bloggers or at neighborhood meetings of data journalists and computer programmers.

Nevertheless, public acclaim progressively seduced Mr. Tow. Soon sufficient, he was appearing much more regularly on television and radio applications.

â??Unmasking the dataâ? is the point that drives Mr. Tow, he said.

â??But thereâ??s also a little bit of going following glory, prestige, fame and common approval.â?

The pinnacle came last month when Horacio Verbitsky, one particular of Argentinaâ??s most influential journalists, gave lengthy mention of Mr. Tow and La Borra in