Digital culture roundup: Amid inflation and economic woes, another coronation of glory
In its last two lines, Argentina’s National Anthem sings “coronados de gloria vivamos, o juremos con gloria morir” (Let us live crowned in glory, or swear to die with glory). And as of late, locals have seemed to take the task of achieving “glory” as a mandate. Over the past year, either Argentine individuals or national representatives have won prizes in multiple realms. Grimson insists that this idea is key to understanding how Argentines achieve greatness in the middle of an economic crisis. According to surveys done by Voices Consultancy, even an efficient monthly purchase at the shop can sometimes feel like an odyssey.
Source:Bueno Aires Herald
September 16, 2023 20:33 UTC
Government files 2024 budget, treatment is expected after the elections
Hours before the legal deadline, the Economy Ministry presented the 2024 budget bill, the road map in which the government establishes the main economic variables for this and the following year. In Argentina, it is not unusual for the budget bill treatment to happen after presidential elections. Year-on-year inflation for 2024 is forecast to be 70%, while average inflation will be around 90%. Per the new document, GDP is expected to drop by 2.5% this year and grow by 2.7% in 2024. According to the budget, the exchange rate by the end of 2024 will be AR$600 to the US dollar.
Source:Bueno Aires Herald
September 16, 2023 15:20 UTC
Bond auction: Argentine markets take cover from devaluation, inflation
The Economy Ministry raised AR$1.14 trillion through peso securities in the local market in a scheduled auction that took place on Thursday. The second round of this auction will take place Friday at 3 p.m. This was the second bond auction of the month, albeit the first scheduled one — the previous one on September 1 was not planned. The most-requested instrument was a dual bond (TDJ24) that matures in June 2024, which got 55.7% of the total raised amount. Dual bonds pay the highest amount between the inflation rate and the devaluation of the peso against the US dollar.
Source:Bueno Aires Herald
September 16, 2023 05:53 UTC
Mar del Plata offshore drilling expected to generate investments of US$40 bn
“The well, which will cost about US$100 million, is set to start between next December and June of next year, but the works in the Mar del Plata port have already begun. According to Guiscardo, Vaca Muerta required close to U$S780 million since 2009 to explore 87 wells and detect reserves of 29,100 MBOE. Brazil, with close to 2,200 offshore wells, managed to double its crude oil production from 2 to 4 million barrels. Lamacchia said that the Mar del Plata offshore project can have up to 50% of locally made components, cautioning nonetheless that it would not be easy. He also estimated that the national government would receive between 58% and 62% of the total profits from this project.
Source:Bueno Aires Herald
September 15, 2023 14:46 UTC
Brazil's Supreme Court convicts first defendant in January 8 coup trial
The Brazilian Supreme Court voted on Thursday to convict the first person to stand trial for the storming of government buildings in the capital Brasilia on January 8 to 17 years in prison. They were possessed by an irrational, almost pathological, hatred,” said Supreme Court Justice Alexandre de Moraes, who also serves as the head of Brazil’s electoral authority. Thursday’s decision was the opener of a first batch as four people who were directly involved in the invasions stand trial. Pereira was convicted of all crimes he stood accused of, including attempted coup d’etat, damage to historic buildings, and criminal association. “The objective was, through the use of violence, to besiege Brasilia and propagate criminal acts throughout the country to attack the rule of law,” said Supreme Court Justice Cristiano Zanin.
Source:Bueno Aires Herald
September 15, 2023 04:27 UTC
Massa to file 2024 budget bill on Friday
Economy Minister and ruling coalition presidential candidate Sergio Massa will file the 2024 national budget bill on Friday, following the deadline established by law, sources from Congress and the ministry have confirmed to the Herald. However, the bill will be presented on Friday, and not after the elections, as Milei requested. The government must present the budget bill for the period that starts on December 10 no later than September 15, according to Argentina’s Financial Administration Law. In Argentina, it is not unusual for the budget bill treatment to happen after presidential elections. In years without presidential elections, this usually happens in October or November.
Source:Bueno Aires Herald
September 14, 2023 16:40 UTC
Monthly inflation rate hits 12.4%, a 32-year high
Argentina’s monthly inflation rate was 12.4% in August, according to the National Institute for Statistics and Census (INDEC, for its Spanish acronym). The figure is almost double that of July and represents the highest monthly rate since February 1991, when the country was mired in a hyperinflation crisis. Eco Go predicts an 11% inflation rate for September. pic.twitter.com/OA5CQQ5POL — Patricia Bullrich (@PatoBullrich) September 13, 2023Shortly after INDEC released the monthly inflation rate, Juntos por el Cambio presidential candidate Patricia Bullrich took aim at the ruling coalition on X (formerly Twitter). INDEC will publish September’s inflation rate on October 12.
Source:Bueno Aires Herald
September 14, 2023 01:58 UTC
Massa announces VAT refunds for basic goods
The government will start refunding value-added tax (VAT) on basic goods for many workers and welfare recipients, Economy Minister Sergio Massa announced on Wednesday evening. The program, called “Buy without VAT”, will apply to products within the basic basket of goods, purchased via debit card. “Its goal is that the basic basket is covered and compensated by this benefit.”In Argentina, VAT is 21%. On Monday, Massa announced that the Argentine government will raise the income tax threshold to AR$1.7 million pesos per month from October. August’s inflation rate, announced just three hours beforehand, was 12.4%.
Source:Bueno Aires Herald
September 13, 2023 23:59 UTC
Argentina’s Labor Minister backs shorter work week
Currently, Argentine law allows a maximum of eight hours of work per day, six days a week, or 48 hours a week in total. Olmos said that the working week should be 40 hours, but added that more developed countries have a 36-hour week. Senator Mariano Recalde filed a bill in the upper chamber that would also reduce working hours to 36 a week, aiming to promote a four-day working week. They decided to maintain the reduced working week after the test run because it helped them increase productivity. “The 48-hour working week is anachronistic because worker productivity has grown exponentially, so we have to discuss and modify it,” he said.
Source:Bueno Aires Herald
September 13, 2023 15:20 UTC
Hydrocarbon surge: a new city to be developed in Vaca Muerta
The new urban development will be called “Añelo Ciudad Central” (‘Añelo Central City’) and will be connected to the current city of Añelo in Neuquén province, near Vaca Muerta’s main pits. The goal is to expand the city now that the recently-approved arrival of the North Patagonian railroad will increase the area’s accessibility and connections. “It’s a city that will coexist with Añelo, expanding its urban limits with new lands,” he explained. To give an idea of how big it will be, the city of Añelo currently covers 2000 hectares: this project could cover up to 10,000 hectares. But there is also the bottleneck of how to get to, live in, and work in Vaca Muerta,” said Cantero.
Source:Bueno Aires Herald
September 13, 2023 14:34 UTC
Focus on English: in pursuit of ‘perfect’ pronunciation?
However, this is not the place for such sociolinguistic analysis; suffice it to say that local catering staff are more likely to speak local dialects, with local accents. All of which leads me to the Argentine learner of English, who wants to improve the way they speak. However, most Argentines studying English are not, presumably, thinking of applying for a post with the CIA or their equivalent. Native speakers don’t expect or require “perfect diction” in learners of English, and learners should not be so ashamed of their origins that they want to eliminate all the linguistic clues that betray their provenance. Some English teachers and phoneticians are so conscious of a need to speak “correctly” that they go over the top with their demands.
Source:Bueno Aires Herald
September 12, 2023 22:16 UTC
With Messi on the bench, Argentina faces Bolivia looking for its second win
Argentina’s men’s national football team will face Bolivia this Tuesday in the second fixture of the South American Qualifiers. Despite concerns about a potential injury, the Albiceleste will have star and captain Lionel Messi on the team, albeit on the bench. “We saw the people support Argentina, but we’ll discuss it after the game,” said striker Marcelo Moreno Martins, Bolivia’s most capped player and La Verde’s top goalscorer. If he scores, he’ll reach 30 goals to become the South American Qualifiers all-time record goal scorer. Argentina and Bolivia have met 41 times, with 29 wins for the Argentines, seven for Bolivia and five ties.
Source:Bueno Aires Herald
September 12, 2023 20:31 UTC
Sergio Massa raises threshold for income tax to AR$1.7 million per month
Economy Minister Sergio Massa revealed on Monday that the Argentine government will raise the threshold for an income tax to AR$1.7 million pesos per month (US$2,620 at the MEP exchange rate, US$2,404 at the blue chip swap rate), beginning in October. The announcement comes as the Union por la Patria candidate enters the home stretch in his campaign to be Argentina’s next president. The General Confederation of Labor (CGT, by its Spanish acronym) confirmed to the Herald that Massa convened the institution’s entire board of directors for the announcement. In a nine-page document titled “Eliminación Impuesto a Las Ganancias Trabajadores y Jubilados” (“Elimination of the Income Tax for Workers and Pensioners”), the Economy Ministry noted that 890,000 people are currently paying the income tax and that 800,000 would become exempt. The measure aims to make the tax the exclusive burden of CEOs, managers, sub-managers, privileged pensioners, and other high-income earners.
Source:Bueno Aires Herald
September 12, 2023 00:05 UTC
Chile’s coup 50 years on: cries for justice are waiting for answers
But military officers from the National Intelligence Directorate (DINA) arrested Ortiz and transported him to a clandestine detention center known as Venda Sexy in Santiago. Ortiz was one of more than 1,000 people who were detained and disappeared during the Chilean dictatorship that began on September 11, 1973, 50 years ago on Monday. Pinochet ruled until March 11, 1990, and remained head of the Chilean Military until 1998. As in other countries of the region, Chile’s military officers have kept the secret of what they did to the disappeared and executed people. The investigations initiated after Pinochet’s arrest led to several other cases against military officers.
Source:Bueno Aires Herald
September 11, 2023 14:58 UTC
Mate for beginners: how to enjoy the Argentine staple
My coworkers excitedly filmed my reaction, thrilled that I had savored this Argentine staple. “Yerba mate is also drunk a lot in the south of Brazil.”Approximately 250 years later, the drink remains an Argentine mainstay. “All social classes drink mate, but it is a private drink, enjoyed inside and outside the home,” Perticone added. The bombilla is there for one reason and one reason only: to drink the mate. Thanking the mate pourer actually signals that you don’t want anymore.
Source:Bueno Aires Herald
September 11, 2023 01:47 UTC