International

Argentina: candidates prepare for internal political party elections

Photo: AP

May 29 |

On June 4, the internal elections of the political parties in Argentina will be held, which will define the formulas that will compete in the August primaries and in the general elections in October to elect the new president.

In the midst of a serious economic crisis and a social unrest that could lead the government to suffer a heavy defeat, according to opinion polls, the candidates are toughening their speeches and intensifying their campaigns.

The liberals, for the first time in history, capture the young vote and the so-called ‘angry vote’ of the society, they lead the polls, with their referent the economist Javier Milei, with an incendiary message.

“We are going to bet on a system that is going to take the machine away from the criminals of the politicians,” said Milei. “The main beneficiaries of the little machine that generates inflation are the crooks of the political caste, because it is the one that has financed the political caste and during the first two years of President Alberto Fernández they have looted (stolen) 11 points of the GDP from us.”

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Kirchnerism has already differentiated itself from the current government and is presenting a pro-government candidate, the current Minister of the Interior, Wado de Pedro, who is seeking to gain followers for the Frente de Todos party.

“As Cristina Fernández de Kirchner rightly said, it is necessary to take the marshal’s baton, because there is a generation that is good for Argentina to refresh its leadership. New generations appear in businessmen, in the media, in the trade unions”, argues the candidate.

From the opposition, there is a possibility of recovering governorships, mayorships, legislative seats and even the presidency, with a tough message.

The former Minister of Security, Patricia Bullrich, from the right-wing Republican Proposal (Pro), says that “to adjust means to shrink a State that grew 100% in the last 20 years, and that took away the wealth of all Argentines, to create a bureaucracy, bigger and bigger, that went from 23% of the GDP to 42% and that left you absolutely nothing”.

“It did not give you better health, better housing, better education… so, I do not enter into the language of Kirchnerism”, he added.

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The current mayor of Buenos Aires, Horacio Rodríguez Larreta, of Juntos por el Cambio, is the most moderate candidate with more experience in administration, and seeks to give guarantees of governability.

“Here the important thing is a development plan. We are going to make Argentina produce again, we are going to open new markets in the world because it needs our food, our oil, gas and we are going to modernize the labor system. Today it is a catastrophe and I am convinced that Argentina will stop suffering”, he recently promised.

The August primary elections will be decisive to measure the political pulse and to see who has real chances of winning.

International

US panel backs Trump-themed coin amid controversy

The United States Department of the Treasury confirmed to AFP that the Commission of Fine Arts approved the design of a new collectible coin featuring Donald Trump, with members of the commission appointed by the current administration.

According to the proposal, the coin will feature an image of Trump standing with clenched fists over a desk on the obverse, while the reverse will display an eagle, a traditional symbol of the United States.

The sale price of the collectible has not yet been disclosed, although the United States Mint typically offers similar items for more than $1,000.

“There is no more iconic portrait for the front of these coins than that of our president Donald Trump,” U.S. Treasurer Brandon Beach said in a statement sent to AFP. He added that two additional coins — a $1 piece and a one-ounce gold coin — are also under consideration.

However, the Citizens Coinage Advisory Committee (CCAC), another body responsible for reviewing new coin proposals, declined to discuss the Trump design in late February.

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“Only nations governed by kings or dictators place the image of a sitting leader on their currency,” said Donald Scarinciat the time. “No country in the world has minted coins featuring a democratically elected leader during their term in office,” he added.

When contacted by AFP, the Treasury Department did not immediately respond to requests for further comment.

International

Fed’s Waller warns of rising inflation risks amid Middle East conflict

Christopher Waller, a governor at the Federal Reserve, said Friday that he is increasingly concerned about the inflationary impact of the ongoing conflict involving United States and Israel against Iran, particularly due to the prolonged closure of the Strait of Hormuz.

Waller, who had supported interest rate cuts over the past year amid concerns about the labor market, said he has shifted his stance in recent weeks due to rising inflation risks.

“Since the Strait of Hormuz was closed, it suggests this conflict could be much more prolonged and that oil prices will remain elevated for longer,” Waller said in an interview with CNBC.

“Therefore, this indicates that inflation is a greater concern than I had previously assessed,” he added.

Waller also backed the Federal Reserve’s decision earlier this week to keep interest rates unchanged, signaling a more cautious approach as global geopolitical tensions continue to affect economic outlooks.

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International

Brazil offers to mediate Colombia-Ecuador tensions, calls for restraint

The government of Brazil has offered to mediate in the ongoing tensions between Colombia and Ecuador, while calling on both nations to exercise restraint.

In a statement released Wednesday, Brazil’s Ministry of Foreign Affairs urged the parties involved to act with moderation and seek a peaceful resolution to the dispute.

“Brazil encourages all sides to act with moderation in order to find a peaceful solution to the controversy. It stands ready to support dialogue efforts aimed at preserving peace and security in the region,” the statement said.

Brazil also expressed “serious concern” over reports of deaths in the border area between Colombia and Ecuador, noting that the circumstances surrounding the incidents have not yet been clarified.

The diplomatic move comes amid rising tensions between the neighboring countries, increasing regional concern over stability and security along their shared border.