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Argentina: Dam Approvals Highlight Improving Relationship with China

Argentina’s government recently approved the construction of two hydroelectric dams in Patagonia, specifically in the southern province of Santa Cruz. China Gezhouba Group Co., Ltd. (a majority shareholder) and local company Electroingenieria SA will lead the construction. The deal over the dams – one named after former President Nestor Kirchner (2003-2007); the other named after

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Argentina: New Anti-Corruption Program: Macri Attempts to Regain Ground

As the August primaries indicated, Argentina’s former President Cristina Kirchner and her new political movement Unidad Ciudadana are very competitive against President Mauricio Macri’s Republican Proposal (PRO) and Cambiemos coalition. The close results heightened expectations for the October midterms and proved that Argentina’s population is split on how it desires the country’s economy to be

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Argentina: Boosted by Primaries, Macri Purges Pro-Union Officials

Argentina’s trade unions again took to the streets in large numbers this week, converging on the Plaza de Mayo, just outside of the Casa Rosada (the house of government). The strikes, led primarily by the General Confederation of Workers (CGT), voiced the same discontent as previous demonstrations during the last several months – specifically regarding

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Argentina: OECD Calls for Central Bank Autonomy as Macri Eyes Membership

Argentina’s central bank continues to make headlines regarding monetary policy and inflation, as well as its independence. The recent appointment of a new director, Enrique Szewach, added to this attention; he replaced Pedro Biscay, who had been removed for “misconduct.” Biscay had drawn the ire of President Mauricio Macri’s team for publicly deriding the administration’s

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Argentina: Dismissal of Central Bank Official Heightens Opposition Ire Against Macri

Last week Macri issued a decree firing Biscay (please see our Personality of the Week) for “poor conduct and violation of the obligations of prudence and responsibility in the position he occupies.” In addition, the decree – also signed by chief of staff Marcos Pena and Minister of Economy Nicolas Dujovne – stressed that Biscay’s

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Argentina: Stubbornly High Inflation Undercuts Central Bank Targets

As October midterms loom, inflation remains one of Argentines’ most pressing concerns. At the outset of 2017, some estimates projected inflation in Argentina to decline to 22% by the end of the year (compared to over 30% in recent years). At the same time, the central bank set an aggressive target of 12–17% by the

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Argentina: Playing the Long Game: Macri’s Reset with Chile

In addition to resetting the economy and removing Argentina’s standing as an international pariah, Macri took office intent upon rebuilding relations with other South American countries. This was perhaps most necessary with Chile, which still feels the sting from Argentina’s past severance of natural gas supplies. The visit to Chile at the end of June

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Argentina: New Polls: Kirchner’s Unidad Ciudadana Tied with Cambiemos Ahead of Midterms

On 1 July, Management and Fit, a credible local pollster, released the first midterm polls that include Unidad Ciudadana – a new bloc formed by former President Cristina Kirchner, who will run for a Senate seat from Buenos Aires province. According to the polls, Cambiemos’ ticket, led by Esteban Bullrich (see our Personality of the

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Argentina: She’s Back! Cristina Kirchner’s Senate Run Shakes Up Politics

Last week Kirchner announced the formation of a new political party, Unidad Ciudadana, which was a clear indication of her desire to run for office again. This week she publicly confirmed her Senate candidacy from Buenos Aires province – marking her return to popular electoral discussions, even though she still has a ways to go