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
Pope Leo XIV Says Countries Have Border Rights but Migrants Deserve Respect
Pope Leo XIV said Thursday that migrants must be treated with dignity as he addressed the global migration crisis during a press conference aboard the plane returning from his tour of Africa.
The pontiff answered questions from journalists regarding his upcoming trip to Spain, which will include a visit to the Canary Islands, a region heavily affected by migration flows and growing political polarization surrounding the issue.
“Obviously, migration is a very complex issue and affects many countries — not only Spain, not only Europe, but also the United States. It is a global phenomenon,” the pope said.
Pope Leo XIV also questioned the role of developed nations in addressing the crisis.
“My response begins with a question: What is the Global North doing to help the Global South and those countries where young people no longer see a future and dream of going north, even when the North sometimes has no answers to offer?” he asked.
While acknowledging that “a state has the right to establish rules for its borders,” the pope insisted that the debate must go beyond border control and address the structural causes that force people to leave their home countries.
International
Authorities Say Teotihuacán Gunman Was Obsessed With Mass Shootings and Extremist Symbolism
Julio César Jasso Ramírez, identified by authorities as the gunman behind the armed attack at the archaeological site of Teotihuacán, had allegedly spent years building a personal narrative shaped by an obsession with historical mass shootings, extremist symbolism, and an increasing detachment from reality.
According to preliminary findings from the Fiscalía General de Justicia del Estado de México, the 27-year-old suspect, originally from the southern Mexican state of Oaxaca, acted alone and appeared to have carefully planned the attack.
Investigators also pointed to signs of a severe psychological or psychiatric disorder. One official involved in the case stated that the suspect seemed to live in “his own reality,” disconnected from the world around him.
“I would not speak of a motive; I would speak of psychopathy, a condition, an illness,” the official said while discussing the ongoing investigation.
Authorities reported that Jasso Ramírez was allegedly fixated on mass violence incidents that occurred outside Mexico, particularly in the United States.
Among the items found in his possession were writings, images, and materials reportedly linked to the Columbine High School massacre, the school shooting that took place on April 20, 1999.
The investigation remains ongoing as authorities continue analyzing evidence connected to the suspect’s background and mental state.
International
Iran refuses to reopen strait of Hormuz amid ongoing U.S. Naval blockade
Iran reaffirmed on Wednesday that it will not reopen the Strait of Hormuz while the United States maintains its naval blockade against Iranian ports and vessels, amid rising geopolitical tensions in the region.
Iranian Parliament Speaker Mohamad Baqer Qalibaf warned that reopening the crucial maritime route depends on Washington honoring the ceasefire agreement. According to Qalibaf, Iran considers the deal to be violated due to ongoing U.S. actions.
The Iranian official accused the United States of carrying out a “naval blockade and the hijacking of the global economy,” while also pointing to Israeli military operations in Lebanon as part of the broader conflict affecting the region.
Qalibaf stated that military and economic pressure would not force Iran to change its position. “The United States and Israel failed to achieve their goals through military aggression, and they will not succeed through intimidation. The only path forward is to recognize the rights of the Iranian nation,” he said.
His remarks come amid stalled negotiations between Iran and the United States following direct talks held on April 11 and 12 in Islamabad.
The discussions, led by U.S. Vice President JD Vance and Iranian representatives, have shown little progress in recent days, increasing uncertainty over whether dialogue between the two sides will resume.
U.S. President Donald Trump recently announced an extension of the ceasefire but decided to keep the naval blockade in place, a move Tehran considers incompatible with ongoing negotiations.
Meanwhile, Iran’s Islamic Revolutionary Guard Corps intensified operations in the area by seizing two vessels in the Strait of Hormuz, accusing them of operating without the required permits and escorting them into Iranian territory.
The Strait of Hormuz remains one of the world’s most critical oil trade routes, and any prolonged disruption could have significant consequences for global energy markets.
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