International

Thousands of Argentines protest soaring inflation

AFP

Thousands of Argentines brought central Buenos Aires to a standstill on Thursday in another massive protest against the South American country’s soaring inflation.

The “Federal march for work and salaries, and against hunger and poverty” was bolstered by thousands of people arriving from outside the capital, heeding the call from multiple unions and left-wing groups critical of center-left President Alberto Fernandez’s social policies.

Calls to protest have become more frequent since the start of the year, as the Argentine economy shows no signs of stemming its inflationary trend.

In the first four months of 2022, prices rose 23 percent, including a 6 percent jump in April, according to figures published Thursday.

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Having already recorded inflation of over 50 percent in 2021, the current rate would surpass even the worst estimates of 60 percent by the end of the year.

Protesters are also angry at the government’s budgetary restraint, a necessity during debt renegotiations with the International Monetary Fund (IMF), which will see the country reduce its annual deficit from three percent of GDP in 2021 to zero by 2025.

Argentina’s left and far left have little clout at the ballot box but a great capacity to organize street protests.

They are vehemently opposed to repaying Argentina’s $44 billion IMF debt, and demand more generous social aid packages.

One of their main slogans is: “the debt is to the people.”

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While the administration has tried to limit expectations of more aid, splits have begun to appear in the government coalition, with Vice President Cristina Kirchner, the former president, openly criticizing Fernandez.

“I don’t think we will honor all the expectations, all the confidence, all the hope that has been placed in us,” she said several days ago, in a veiled barb at the president.

In recent weeks, Fernandez boosted by 50 percent food vouchers for the poor, increased pensions for those working in the informal sector, and also hiked the minimum wage from 38,940 to 45,540 pesos ($319 to $373).

International

Gates Foundation to close by 2045 as Bill Gates pledges to donate $200 Billion

When Bill and Melinda French Gates established the Gates Foundation in 2000, they envisioned an organization that would continue its work for decades after their deaths. But now, Microsoft co-founder Bill Gates says he doesn’t want to wait that long to give away most of his fortune.

On Thursday, Gates announced that he plans to donate “virtually all” of his estimated $200 billion fortune over the next 20 years and will dissolve the foundation on December 31, 2045.

The announcement comes amid deep cuts by the Trump administration to funding for health, foreign aid, and public assistance programs — the very causes the Gates Foundation supports. The shift raises concerns about setbacks in global health research and critical development initiatives.

Gates says he wants to accelerate the foundation’s work in global health and equity, and hopes the move will inspire other billionaires to follow suit. In a blog post published Thursday morning, he emphasized that the foundation’s final phase should serve as a model for large-scale philanthropic impact.

This new pledge builds on Gates’s long-standing commitment to philanthropy. Alongside French Gates and Warren Buffett, he co-founded the Giving Pledge in 2010, which encourages billionaires to donate the majority of their wealth either during their lifetimes or in their wills. The campaign now has more than 240 signatories worldwide.

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International

Bill Gates accuses Elon Musk of endangering the world’s poorest children

Bill Gates, co-founder of Microsoft turned global health philanthropist, sharply criticized Elon Musk in a recent interview with The New York Times, saying the tech billionaire is “the richest man in the world and is involved in the deaths of the world’s poorest children.”

At 69, Gates announced that the Bill & Melinda Gates Foundation will cease operations by 2045, and he urged the next generation of billionaires to step up. However, he expressed concern that today’s wealthy individuals are less committed to humanitarian work than they were two decades ago.

He cited Elon Musk as a prime example: “He’s the one who cut the USAID budget. He shredded it — all because he didn’t attend some party that weekend.”

Gates argued that Musk “could have been a great philanthropist,” but instead, “the richest man in the world is now contributing to the deaths of the world’s poorest children.” He pointed to how cuts to USAID have disrupted essential programs fighting HIV, malaria, and polio.

Gates called on the global elite to do more: “It’s not that we’re running out of rich people. There will be more, and they’ll reflect on what AI has done — or hasn’t — and what governments have done — or haven’t.”

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Looking ahead, he urged future billionaires to commit to greater philanthropy, especially as his own foundation phases out: “The rich of today should do more. The rich twenty years from now should do more.”

Despite his criticisms, Gates maintained his trademark optimism. He dismissed fears that repeated U.S. administrations will continue cutting humanitarian budgets: “I don’t think there will be administration after administration slashing these things. If we look 20 years ahead, I believe we’ll continue reducing child mortality.”

Gates also expressed faith in artificial intelligence, suggesting it can provide medical expertise in remote regions on par with doctors with decades of experience — potentially even better than what’s available in wealthy countries.

International

VP JD Vance to World Cup visitors: “Enjoy the game, then go home”

U.S. Vice President JD Vance issued a light-hearted but firm warning to international visitors planning to attend the 2026 FIFA World Cup, which will be co-hosted by the United States, Canada, and Mexico.

“We know we’ll have visitors, probably from close to a hundred countries. We want them to come. We want them to celebrate. We want them to enjoy the games,” said Vance during a press conference on Tuesday focused on the organization of upcoming major sporting events in the U.S.

“But when it’s over, they’ll have to go home,” he added.

Vance, speaking in a joking tone, also mentioned Homeland Security Secretary Kristi Noem, saying, “Otherwise, they’ll have to speak with Secretary Noem.”

The comment came during the first joint working session aimed at preparing for the 2026 World Cup, which will feature 48 national teams and take place across multiple cities in North America.