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.

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“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.

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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.

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International

Marco Rubio warns Cuba could be Trump administration’s next target

U.S. Secretary of State Marco Rubio did not rule out that Cuba’s communist government could become the next target of the Trump administration, just one day after the arrest of Venezuelan strongman Nicolás Maduro.

In an interview on Meet the Press, Rubio issued a warning to Havana, stating that Cuban authorities are “in a lot of trouble.”

“Is the Cuban government the next target of the Trump administration?” journalist Kristen Welker asked.
“Well, the Cuban government is a major problem. Yes,” Rubio replied.
“So that’s a yes?” Welker pressed.
“I think they’re in a lot of trouble, yes,” the Secretary of State added.

In a separate appearance, Rubio—who is the son of Cuban immigrants—claimed that Venezuela’s intelligence services were “full of Cubans” and said the island nation had effectively taken control of Venezuela.

“In some cases, one of the biggest challenges Venezuelans face is having to declare their independence from Cuba,” Rubio said from President Trump’s Mar-a-Lago club. “They basically tried to colonize the country from a security standpoint. So yes, if I were living in Havana and part of the government, I would at least be worried.”

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During a press conference on Saturday, President Trump himself said the United States seeks to be surrounded by “good neighbors.”

“It’s very similar in the sense that we want to help the people of Cuba, but we also want to help those who are forced to leave and live in this country,” Trump said. He also described the island as a “nation in decline” that is “not doing very well right now.”

The Cuban government has not yet responded to Rubio’s remarks. However, as a staunch ally of Maduro’s regime, Cuban authorities strongly condemned recent explosions and U.S. operations in Caracas.

“All nations in the region must remain alert, as the threat looms over everyone. In Cuba, our determination to fight is firm and unbreakable. The decision is one and only one: Homeland or Death,” Cuban officials said in a statement.

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International

Trump signals possible expansion of U.S. regional policy beyond Venezuela

U.S. President Donald Trump said on Saturday that Cuba could become a subject of discussion as part of a broader regional policy, highlighting the possibility that Washington may expand its focus beyond Venezuela amid rising tensions in Latin America.

The remarks suggest that the White House is considering a recalibration of its strategy toward the region, in a context shaped by recent actions and warnings related to political stability and hemispheric security.

International

World leaders react to U.S. attacks on Venezuela, sparking global divide

The following are international reactions to the U.S. attacks carried out on Saturday against Venezuela:

Chinese Ministry of Foreign Affairs

China said it was “deeply shocked” and strongly condemned the use of force by the United States against a sovereign country, as well as the use of force against the president of that nation.

“China firmly opposes this hegemonic behavior by the United States, which seriously violates international law, infringes upon Venezuela’s sovereignty, and threatens peace and security in Latin America and the Caribbean,” the ministry said. It urged Washington to comply with international law and the purposes and principles of the United Nations Charter, and to cease actions that violate the sovereignty and security of other countries.

French Foreign Minister Jean-Noël Barrot

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Barrot stated that the military operation that led to the capture of Nicolás Maduro violates the principle of non-use of force, which underpins international law. He stressed that no lasting political solution can be imposed from outside and that only sovereign peoples can decide their own future.

Russian Ministry of Foreign Affairs

Russia said the United States had committed an act of armed aggression against Venezuela, describing the move as deeply troubling and condemnable.

“The pretexts used to justify such actions are unfounded,” the ministry said, adding that ideological animosity had prevailed over pragmatism and the willingness to build relations based on trust and predictability.

Moscow emphasized the need to prevent further escalation and to focus on resolving the crisis through dialogue. It reiterated that Latin America should remain a zone of peace, as declared in 2014, and that Venezuela must be guaranteed the right to determine its own destiny without external — especially military — interference.

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Russia also said it supports calls by Venezuelan authorities and Latin American leaders for an urgent meeting of the United Nations Security Council.

United Nations

UN spokesman Stéphane Dujarric said Secretary-General António Guterres continues to stress the importance of full respect for international law, including the UN Charter. He added that the secretary-general is deeply concerned that international legal norms were not respected.

Government of Argentina and President Javier Milei

Argentine President Javier Milei, a close regional ally of Donald Trump, posted on X: “FREEDOM MOVES FORWARD. LONG LIVE FREEDOM, DAMN IT,” alongside a video showing him at a summit describing Maduro as a threat to the region and supporting the pressure exerted by Trump on Caracas.

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In a statement, the Argentine government praised “the decision and determination shown by the President of the United States and his administration in the recent actions taken in Venezuela that led to the capture of the dictator Nicolás Maduro, leader of the Cartel of the Suns.”

Argentina said it hopes these developments represent a decisive step forward in the fight against narcoterrorism in the region.

Mexican Foreign Ministry

Mexico strongly condemned and rejected the unilateral military actions carried out in recent hours by U.S. armed forces against targets in Venezuelan territory, calling them a clear violation of Article 2 of the United Nations Charter.

The Mexican government reiterated that dialogue and negotiation are the only legitimate and effective means to resolve disputes and reaffirmed its willingness to support any effort aimed at facilitating dialogue, mediation, or accompaniment to preserve regional peace and prevent confrontation.