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Argentina names new economy minister after surprise resignation

AFP

Argentina appointed economist Silvina Batakis as its new economy minister Sunday after Martin Guzman, the architect of a debt restructuring deal with the IMF, unexpectedly resigned. 

President Alberto Fernandez appointed the 53-year-old Batakis, “a renowned economist” who was economy minister for Buenos Aires province from 2011 to 2015, the president’s spokesperson announced on Twitter.

The center-left leader had held consultations all day Sunday to find a replacement for Guzman, who was tasked with renegotiating a $44 billion debt with the International Monetary Fund that Argentina insisted it could not afford to repay.

The original debt of $57 billion — the last tranche of which Fernandez declined after succeeding his liberal predecessor Mauricio Macri, who had solicited the loan — was the largest ever issued by the IMF.

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Guzman was praised for having stopped Argentina, Latin America’s third-largest economy, from defaulting with the deal finalized in March.

But he was regularly challenged by the Peronist Justicialist Party, the major force in the Frente de Todos (Everyone’s Front) ruling coalition, embodied by the still-influential Cristina Kirchner, the country’s vice president and president from 2007 to 2015. 

Batakis’ appointment appears to be a signal of growing power of Kirchner’s faction in the center-left coalition.

She was economy minister for Buenos Aires province, with a 15 million-strong population, under then-governor Daniel Scioli.

Scioli was vice president under president Nestor Kirchner, and close to his wife, Cristina Kirchner. 

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In addition to commitments to the IMF deal, which included provisions to contain inflation and reduce the budget deficit from three percent in 2021 to parity by 2025, Batakis will have to contend with chronic inflation.

Agricultural powerhouse Argentina has been in economic crisis for years, with inflation of more than 60 percent in the last 12 months.

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International

United Nations Coordinates Relief Efforts as Venezuela Death Toll Rises After Twin Quakes

United Nations Secretary-General António Guterres on Thursday expressed his condolences to the people of Venezuela following the two devastating earthquakes that struck the country and highlighted the ongoing coordination between UN humanitarian teams and interim President Delcy Rodríguez.

Speaking during the UN’s daily press briefing, spokesperson Stéphane Dujarric said Guterres was deeply saddened by the loss of life and widespread destruction caused by the disaster.

“The Secretary-General is deeply distressed by the loss of life and the widespread devastation caused by the earthquakes that struck Venezuela yesterday. He extends his heartfelt condolences to the families of the victims and wishes a speedy recovery to those injured,” Dujarric stated.

Venezuela was struck on Wednesday by two powerful earthquakes measuring 7.2 and 7.5 in magnitude. According to official figures, the disaster has left at least 164 people dead and 971 others injured.

Dujarric noted that preliminary reports indicate significant damage across several states, including the capital, Caracas. Numerous casualties have been reported, while other individuals remain trapped beneath collapsed structures or are still missing.

“Critical infrastructure has been damaged and essential services have been disrupted,” the spokesperson said.

The United Nations confirmed that its humanitarian team remains in close contact with interim President Delcy Rodríguez and other relevant authorities as emergency operations continue.

To support relief efforts, the UN has established a coordination center in Caracas and is assisting local authorities to ensure that humanitarian aid reaches affected communities as quickly and efficiently as possible.

Guterres also welcomed the expressions of solidarity and offers of assistance from countries around the world that responded following news of the disaster, underscoring the importance of international cooperation in addressing the humanitarian emergency.

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International

OAS Secretary General Pledges Regional Assistance Following Venezuela Quake Disaster

The Secretary General of the Organization of American States (OAS), Albert Ramdin, said on Thursday that the “hemispheric community” stands ready to provide “full support” to Venezuela and its people following the powerful earthquakes that struck the country overnight, leaving at least 164 people dead and nearly 1,000 injured.

Speaking at the conclusion of the OAS General Assembly, Ramdin expressed solidarity not only with Venezuela but also with Colombia, Curaçao and Aruba, where the tremors were also felt.

“Above all, our thoughts are with these peoples,” he said during his remarks.

Ramdin noted that while many details about the disaster are still emerging, countries across the hemisphere are prepared to assist Venezuela as it responds to the crisis.

“Much remains unknown at this stage, but the hemispheric community will be ready to support the people of Venezuela during this very difficult time,” he stated, reiterating the organization’s commitment to helping those affected.

According to updated information released by the Venezuelan government, the powerful earthquakes have been followed by at least 30 aftershocks. Authorities have also reported extensive structural damage, including numerous building collapses in La Guaira, the area considered hardest hit by the disaster.

Rescue efforts are currently focused on La Guaira, where emergency teams continue searching for survivors trapped beneath the rubble as officials assess the full extent of the damage.

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International

Bill Gates Says Jeffrey Epstein Made “Veiled” Threats Over Extramarital Affairs

Microsoft co-founder Bill Gates told members of the U.S. Congress that he received “veiled” threats from convicted sex offender Jeffrey Epstein related to his extramarital affairs, according to a transcript of his testimony released Tuesday.

Gates testified behind closed doors on June 10 before the House Oversight Committee regarding his relationship with the American financier, who died in prison in 2019 while awaiting trial on sex trafficking-related charges. Epstein had previously been convicted in 2008 for soliciting prostitution from a minor.

According to the transcript released by the committee, Gates said Epstein appeared to want to use his knowledge of Gates’ personal relationships as leverage to keep him within his circle at a time when Gates was already distancing himself.

“I was not blackmailed, but reading these emails, it seems like Mr. Epstein’s ideas were moving in that direction,” Gates said, referring to documents from the Epstein case released by the Justice Department in January.

Gates added that Epstein never sent him anything he would personally classify as blackmail. However, he said the content of certain draft emails suggested Epstein was “rehearsing” how he, or someone he instructed, might attempt to pressure him.

“He was, in a way, practicing how he himself, or someone he directed, could choose to blackmail me, but none of those messages were ever sent to me,” Gates told lawmakers.

The 70-year-old billionaire had previously stated that he was unaware of Epstein’s criminal behavior and said he had never been involved in harming anyone.

In February, Gates told The Wall Street Journal that his association with Epstein was a serious mistake. He also acknowledged having extramarital relationships, while denying any involvement in Epstein’s criminal activities.

Gates said his relationship with Epstein began in 2011, three years after Epstein’s conviction, and acknowledged that he was aware of Epstein’s legal troubles at the time.

However, Gates said he was told that Epstein had the ability to raise billions of dollars for global health initiatives, an area in which Gates had significant involvement.

“When I met him, I knew he had been convicted,” Gates told lawmakers. “I knew it was of a sexual nature, but I didn’t try to learn more, although I probably should have.”

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