Argentina

2023 - 3 - 29

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Image courtesy of "Harvard International Review"

Argentina's Economic Downfall : Which Party Will Save the Citizens? (Harvard International Review)

The economic situation in Argentina has been so prolonged that citizens are indecisive about which political party would best help the issue.

[discontent](https://bti-project.org/en/reports/country-report/ARG) in the past. Leading up to the previous election in 2019, almost [two thirds](https://www.pewresearch.org/fact-tank/2019/10/23/argentines-pessimistic-about-economy-political-system-leading-up-to-election/) of the population had reported dissatisfaction with the nation's democracy, which has been a common trend [since 1983](https://bti-project.org/en/reports/country-report/ARG). Some citizens are starting to believe that a familiar political force may be needed to solve this crisis, despite them being at the forefront of the current economic situation and instigators of [political tension](https://www.pewresearch.org/fact-tank/2019/10/23/argentines-pessimistic-about-economy-political-system-leading-up-to-election/). [25 percent](https://batimes.com.ar/news/amp/argentina/survey-almost-one-third-of-argentines-would-prefer-a-new-political-party-to-form-government-in-2023.phtml) of the population considering that President Fernández is seeking re-election. [90 percent](https://www.americasquarterly.org/article/why-argentinas-politics-are-surprisingly-stable/) of the votes. The presidency has also [withdrawn](https://www.cfr.org/backgrounder/argentina-south-american-power-struggles-stability) from a group of Latin American countries created to restore democracy in Venezuela, which hints at some international relation tensions within the administration. Some of the strength is due to the fact that Argentina has never allowed independent candidates, and there is a law that [mandates](https://www.americasquarterly.org/article/why-argentinas-politics-are-surprisingly-stable/) primary elections and encourages competition within coalitions. This is because the jobs of poor Argentinians typically do not have [automatic wage increases](https://www.nytimes.com/2022/08/06/business/inflation-argentina.html) to keep up with inflation, and they are unable to buy U.S. During this debt crisis, the government turned to the [central bank](https://www.investopedia.com/ask/answers/122214/how-does-monetary-policy-influence-inflation.asp) for financial assistance, leading to rapid inflation because of the increasing money in circulation and decreasing interest rate for borrowing. [US dollars](https://www.nytimes.com/2022/08/06/business/inflation-argentina.html). [third of the population](https://batimes.com.ar/news/amp/argentina/survey-almost-one-third-of-argentines-would-prefer-a-new-political-party-to-form-government-in-2023.phtml) support Frente de Todos (Everyone’s Front), a populist-leftist alliance, another third support Juntos por el Cambio (Together for Change), a liberal-conservative alliance, and the final third would prefer a candidate who does not belong to either coalition. Despite disagreeing about who should take office, the citizens seem to unanimously agree that the economic state of the country is the [number one concern](https://batimes.com.ar/news/amp/argentina/survey-almost-one-third-of-argentines-would-prefer-a-new-political-party-to-form-government-in-2023.phtml) for the upcoming election.

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Image courtesy of "Forbes"

Running Out Of Hard Currency As Inflation Tops 100%, Argentina's ... (Forbes)

After appearing to walk on water for months on end after the cataclysmic exit of his predecessor at the Economy Ministry, Sergio Massa has begun to ...

The Kirchnerites are accusing Massa of going “full Menem,” referring to the Peronist leader who was president during the 1990s in which Argentina was the poster child of neoliberalism. The latest inflation reading coming in at 6.6 percent for February on a monthly basis and at 102.5 percent annually added a fateful brick to the wall. And the opposition, happy to see the ruling Frente de Todos coalition tear itself apart, continues to add fuel to the fire. The market jitters were felt immediately as Massa announced the debt swap in an operation to shore up some $4 billion in firepower for the Economy Ministry to intervene in currency markets. And a report by the Rosario Board of Trade indicated the drought would erase $20 billion from Argentina’s economic output in 2023, approximately three percent of expected GDP. An economic slowdown that could tip the economy into recession was confirmed by the INDEC national statistics bureau figures that showed a 1.5 percent contraction of GDP in the fourth quarter. Massa and his team are expert communicators, which is why it is surprising that the compulsory bond swap announcement was rushed on a late Tuesday afternoon a few weeks ago when information of an early morning breakfast with bankers came through the wires, sparking all sorts of rumors. His latest move, a compulsory bond swap with state entities that trades dollar-denominated debt for peso-backed paper sparked the ire of multiple sectors, from the anti-Peronist opposition to hardcore Kirchnerites, something that assimilates the tensions felt by Martín Guzmán during his days occupying the hottest seat in the house. The political pressure is mounting, a situation probably tied to the electoral calendar but also the fact that inflation seems to be going up rather than down. The size of the fiscal hole coupled with voracious dollar appetite given a flight to quality away from the peso means that it’s never enough. After appearing to walk on water for months on end after the cataclysmic exit of his predecessor at the Economy Ministry, Sergio Massa has begun to seriously feel the heat of an economy that remains up in flames. When the going gets tough, the tough get going says the phrase, which could be adapted for the current situation to, “when the going gets tough, the tough get pushed to the edge.” The man from Tigre has pulled out an unorthodox and pragmatic playbook aimed at complying with the International Monetary Fund while trying to absorb as many dollars as possible in order to bulk up reserves, yet the Central Bank’s coffers are always running on empty.

UN disability rights committee publishes findings on Angola ... (OHCHR)

GENEVA (29 March 2023) - The UN Committee on the Rights of Persons with Disabilities (CRPD) today issued its findings on Angola, Argentina, Georgia, Peru, ...

The Committee recommended that Togo mainstream the rights of women and girls with disabilities into all gender legislation and incorporate a gender perspective in disability policies and programmes. It also raised concern that the existing legislation allows banks to limit the access of people with disabilities, including deaf and blind persons, to their own money and assets when they are not accompanied by a witness. The Committee was also concerned about the lack of a national strategy to enable people with disabilities to live independently and to be included in the community. The Committee is made up of [18 members](https://www.ohchr.org/en/treaty-bodies/crpd/membership) who are independent human rights experts drawn from around the world, who serve in their personal capacity and not as representatives of States parties. It also called on the State party to ensure that people with disabilities have access to housing alternatives in the community, support networks and services. The Committee called on Angola to enforce the implementation of such employment quotas for people with disabilities in both the public and private sectors, such as through the imposition of penalties. The Committee recommended that Argentina ensure equal recognition before the law for all people with disabilities, eliminate the legal provisions allowing the restriction of their legal capacity, and implement supported decision-making mechanisms and safeguards to ensure their will and preferences are respected. It asked Georgia to ensure the freedom of association of people with disabilities, including by ensuring access to national and legitimate foreign funding. It also asked Togo to review the existing anti-discrimination legislation to acknowledge multiple and intersectional forms of discrimination. It also underlined the requirement of developing information in Easy Read and other accessible formats for people with disabilities in public consultation. It asked Argentina to adopt a comprehensive plan for the deinstitutionalisation, with specific goals, time frames, evaluation measures and the necessary resources, and guarantee support for independent living, including personal assistance, accessible and affordable housing, as well as home-based and community-based mental health services. The Committee asked Angola to guarantee people with disabilities equal recognition before the law.

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