International
Rising Argentine inflation ends 2021 over 50%
AFP
Argentine inflation continued to rise in 2021, ending the year at more than 50 percent, the state statistics institute said on Thursday,
It was grim news for the South American country, given cumulative inflation in 2020 — a year when the economy was almost paralyzed by the Covid-19 pandemic — was just 36 percent.
The largest price increases in 2021 were in hotels and restaurants (65.4 percent), transport (57.6) and food (50.3).
“During 2021, the government tried to anchor inflation and to do so basically used the regulation of the price of utility rates and the exchange rate,” Hernan Fletcher of the Argentine Center of Economic Policy, told AFP.
“Although it certainly was not a success, without this, inflation would have been higher.”
Since 2019, Argentina has imposed ever stricter currency exchange controls, meaning citizens can only withdraw $200 a month at the official rate.
For 2022, the government predicted in its budget — which was rejected by the opposition-dominated parliament — an inflation of 33 percent.
Opposition figures derided the budget as unrealistic.
According to a Central Bank survey, inflation in 2022 will be 55 percent.
The news comes with the government embroiled in a tricky renegotiation with the International Monetary Fund (IMF) over the repayment structure of a $44 billion loan agreed in 2018.
Argentina is due to pay back $19 billion to the IMF this year, another $20 billion in 2023 and $4 billion the following year.
Yet analysts estimate that the country has just $4 billion in international reserves.
“A deal with the IMF could improve the economy in terms of expectations, but in terms of inflation I don’t see 2022 being very different to 2021,” said economist Pablo Tigani.
International
Ombudsman confirms deaths of six minors in bombing targeting FARC dissidents
Colombia’s Ombudsman’s Office reported on Saturday the deaths of six minors who had been recruited by guerrilla groups, killed during the deadliest airstrike ordered by President Gustavo Petro in an Amazonian region in the south of the country.
Amid pre-election criticism and pressure from the United States demanding stronger action against drug trafficking, Petro has intensified military operations against armed groups. Over the past week, a series of bombings have left 28 people dead.
The minors were killed in an airstrike announced on Tuesday against a camp belonging to dissident factions of the now-defunct FARC guerrilla in the department of Guaviare, resulting in 19 deaths—the largest operation of its kind under Petro’s administration.
“This is all deeply regrettable; it is war in its most painful and inhumane expression, harming the most vulnerable—minors recruited due to lack of protection and now turned into military targets,” said Ombudswoman Iris Marín in an audio message sent to the press, confirming the deaths of six minors without providing their ages.
Marín held the guerrilla group led by the country’s most-wanted man, alias Iván Mordisco, responsible for recruiting the children.
However, she also stressed that “the military forces must take every feasible precaution to protect children,” in accordance with international principles that require “careful evaluation of the means and methods of warfare to avoid disproportionate or unnecessary harm.”
International
Colombia reaches $4.5 billion deal to acquire 17 Gripen Fighter Jets from Saab
The Colombian government has finalized a negotiation agreement with the Swedish company Saab for the purchase of 17 SAP-39 Gripen fighter jets, valued at more than $4.5 billion, according to local media reports.
Colombian outlets indicated that payments are scheduled to begin in 2026, starting with an initial installment of 100 billion Colombian pesos. However, the aircraft will be delivered between 2027 and 2032, when the final jet is expected to arrive in Colombia.
This new contract represents the second-largest public purchase made by Colombia so far this century, surpassed only by the investment in the Bogotá metro system, local media noted.
The agreement is expected to be officially signed during the ceremony commemorating the 216th anniversary of the Colombian Aerospace Force, to be held in Cali on November 14 of this year.
International
Venezuela accuses U.S. of using Naval Deployment to pressure Maduro government
The world’s largest aircraft carrier, the USS Gerald R. Ford, joined the U.S. Navy’s anti-drug operation in Latin America on Tuesday—a deployment Venezuela has condemned as an attempt to pressure President Nicolás Maduro from power.
In a statement, the U.S. Southern Command confirmed that the carrier, ordered to deploy nearly three weeks ago, has entered its area of responsibility, which includes Latin America and the Caribbean.
“The world’s largest aircraft carrier will strengthen the United States’ ability to detect, monitor, and dismantle illicit actors and activities that threaten the security and prosperity of U.S. territory and our safety in the Western Hemisphere,” said Pentagon spokesperson Sean Parnell.
According to the White House, the U.S. government under Donald Trump has carried out about twenty operations in the Caribbean and the Pacific since early September, resulting in the deaths of 76 suspected drug traffickers.
However, U.S. authorities have not yet presented evidence that the targeted vessels were being used for drug trafficking or posed a direct threat to the country.
The operations have raised concerns in Caracas, where the Maduro administration views the deployment as a strategic move aimed at provoking regime change in Venezuela.
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