International
Argentina president announces new IMF debt deal
AFP
Argentine President Alberto Fernandez unveiled a new debt repayment deal with the International Monetary Fund on Friday, the day a $700-million repayment was due.
The South American country was due this year to pay back $19 billion of its $44-billion debt to the IMF.
“Compared to previous ones Argentina signed, this deal does not include restrictions that would delay our development,” said Fernandez.
Details of the new deal are expected to be divulged later Friday by Economy Minister Martin Guzman.
Under the previous deal, Argentina would have to repay $19 billion this year, $20 billion next year and another $4 billion in 2024.
The center-left government had repeatedly said the repayment schedule was unsustainable given their lack of reserves, and was pushing for a restructuring of the repayment schedule.
“We had an unpayable debt that left us without present or future, and now we have a reasonable deal that will allow us to grow (the economy) and fulfill our obligations throughout our growth,” said Fernandez.
“This understanding plans to sustain the economic recovery that has already begun.”
Fernandez said the deal crucially would not force the government to reduce public spending and would allow it to increase investment in public works.
Fernandez’s liberal predecessor Mauricio Macri originally agreed a $57-billion loan with the IMF in 2018, but when his successor took office a year later, Fernandez refused to accept the final $13-billion disbursement.
After successfully restructuring a $66-billion debt with private international creditors in 2020, Argentina began negotiations with the IMF to delay repayments.
The country experienced three years of recession until registering a 10 percent increase in GDP in 2021, although the economy had shrunk by as much the previous year as it suffered the worst effects of the coronavirus pandemic.
International
U.S. Senate Rejects Budget, Bringing Government Closer to Shutdown Amid DHS Dispute
The U.S. Senate voted on Thursday against a budget proposal in a move aimed at pressuring changes at the Department of Homeland Security (DHS), following the killing of two civilians during a deployment of immigration agents in Minneapolis.
All Senate Democrats and seven Republican lawmakers voted against the bill, which requires 60 votes to advance, pushing the country closer to a partial government shutdown that would cut funding for several agencies, including the Pentagon and the Department of Health.
The rejection came as Senate leaders and the White House continue negotiations on a separate funding package for DHS that would allow reforms to the agency. Proposed measures include banning Immigration and Customs Enforcement (ICE) agents from wearing face coverings and requiring them to use body-worn cameras during operations.
The vote took place just hours after President Donald Trump said he was “close” to reaching an agreement with Democrats and did not believe the federal government would face another shutdown, following last year’s record stoppage.
“I don’t think the Democrats want a shutdown either, so we’ll work in a bipartisan way to avoid it. Hopefully, there will be no government shutdown. We’re working on that right now,” Trump said during a Cabinet meeting at the White House.
International
Trump Says Putin Agreed to One-Week Halt in Attacks on Ukraine Amid Extreme Cold
U.S. President Donald Trump said on Thursday that he secured a commitment from Russian President Vladimir Putinto halt attacks against Ukraine for one week, citing extreme weather conditions affecting the region.
“Because of the extreme cold (…) I personally asked Putin not to attack Kyiv or other cities and towns for a week. And he agreed. He was very pleasant,” Trump said during a Cabinet meeting broadcast by the White House.
Trump acknowledged that several advisers had questioned the decision to make the call.
“A lot of people told me not to waste the call because they wouldn’t agree. And he accepted. And we’re very happy they did, because they don’t need missiles hitting their towns and cities,” the president said.
According to Trump, Ukrainian authorities reacted with surprise to the announcement but welcomed the possibility of a temporary ceasefire.
“It’s extraordinarily cold, record cold (…) They say they’ve never experienced cold like this,” he added.
Ukrainian President Volodymyr Zelensky later commented on the announcement, expressing hope that the agreement would be honored.
International
Storm Kristin Kills Five in Portugal, Leaves Nearly 500,000 Without Power
Storm Kristin, which battered Portugal with heavy rain and strong winds early Wednesday, has left at least five people dead, while nearly half a million residents remained without electricity as of Thursday, according to updated figures from authorities.
The revised death toll was confirmed to AFP by a spokesperson for the National Emergency and Civil Protection Authority (ANPEC). On Wednesday, the agency had reported four fatalities.
Meanwhile, E-Redes, the country’s electricity distribution network operator, said that around 450,000 customers were still without power, particularly in central Portugal.
Emergency services responded to approximately 1,500 incidents between midnight and 8:00 a.m. local time on Wednesday, as the storm caused widespread disruptions.
The Portuguese government described Kristin as an “extreme weather event” that inflicted significant damage across several regions of the country. At the height of the storm, as many as 850,000 households and institutions lost electricity during the early hours of Wednesday.
Several municipalities ordered the closure of schools, many of which remained shut on Thursday due to ongoing adverse conditions.
Ricardo Costa, regional deputy commander of the Leiria Fire Brigade, said residents continue to seek assistance as rainfall persists.
“Even though the rain is not extremely intense, it is causing extensive damage to homes,” he noted.
In Figueira da Foz, a coastal city in central Portugal, strong winds toppled a giant Ferris wheel, underscoring the severity of the storm.
Costa Rica Goes to the Polls as Voters Choose Continuity or Change
U.S. and Guatemala Sign Trade Deal Granting Zero Tariffs to Most Exports
Panama Supreme Court Strikes Down Panama Ports Concession as Unconstitutional
Tec de Monterrey honors one of its students for his contribution to nanotechnology in medicine
Defense Minister commends salvadoran soldier for Central American Cross Country victory
Extension of the state of emergency approved in southern Chile
-
International3 days agoU.S. Senate Rejects Budget, Bringing Government Closer to Shutdown Amid DHS Dispute
-
International4 days agoFootball Fan Killed in Clashes After Colombian League Match
-
Central America4 days agoGuatemala President Says Starlink Terminal Found Inside Prison
-
International4 days agoRubio Says U.S. Could Participate in Follow-Up Russia-Ukraine Talks
-
International4 days agoMissing Spanish Sailor Rescued After 11 Days Adrift in Mediterranean
-
Central America2 days agoPanama Supreme Court Strikes Down Panama Ports Concession as Unconstitutional
-
International3 days agoStorm Kristin Kills Five in Portugal, Leaves Nearly 500,000 Without Power
-
Central America2 days agoU.S. and Guatemala Sign Trade Deal Granting Zero Tariffs to Most Exports
-
International3 days agoMan Arrested After Vehicle Crashes Into Jewish Institution in Brooklyn
-
International3 days agoTrump Says Putin Agreed to One-Week Halt in Attacks on Ukraine Amid Extreme Cold
-
Central America6 hours agoCosta Rica Goes to the Polls as Voters Choose Continuity or Change