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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

At Least Eight Dead and 19 Injured in Deadly Bus Crash in Veracruz, Mexico

A tragic bus accident in the eastern state of Veracruz left at least eight people dead and 19 others injured on Wednesday afternoon, according to local authorities.

The vehicle was traveling through the town of Zontecomatlán when it crashed near a ravine, state Civil Protection officials reported late Wednesday night. “Regrettably, the prosecutor’s office has confirmed eight fatalities,” the agency stated in an official release.

Emergency Response and Medical Care Rescue teams worked into the night to assist the survivors. The 19 injured passengers were stabilized at the scene before being transported to hospitals in the nearby municipalities of Chicontepec and Huayacocotla. While the identities of the victims have not yet been released, Mexican press reports indicate the bus was en route from Mexico City to Chicontepec.

A Recurring Issue on Mexican Highways Road accidents involving long-haul passenger buses and freight transport are a frequent occurrence in Mexico. Experts often cite excessive speed, mechanical failure, or driver fatigue as the primary catalysts for these tragedies.

This latest incident follows another major disaster in late November, where 10 people were killed and 20 injured in a similar bus crash in the western state of Michoacán. The recurring nature of these accidents continues to spark national debate regarding the enforcement of stricter safety regulations for commercial transport units.

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Jair Bolsonaro Hospitalized for Inguinal Hernia Surgery While Serving Sentence for Attempted Coup

Brazil: Court bans Bolsonaro from running in elections until 2030

Former Brazilian President Jair Bolsonaro, currently serving a 27-year prison sentence for an attempted coup, underwent surgery this Thursday for an inguinal hernia. The procedure took place at the DF Star Hospital in Brasilia, according to his wife, Michelle Bolsonaro.

The 70-year-old former leader left prison on Wednesday for the first time since his incarceration in late November to prepare for the operation. “My love has just gone to the surgical center,” Michelle Bolsonaro posted on Instagram, where she has been documenting her accompaniment during his hospitalization.

Surgical Expectations and Health History Medical professionals treating the far-right ex-president (2019-2022) anticipate the operation will last approximately four hours. His recovery period in the hospital is expected to extend between five and seven days.

Dr. Claudio Birolini explained on Wednesday that while the surgery is standardized, it remains complex due to the patient’s history. Bolsonaro continues to suffer from the long-term effects of a 2018 campaign rally stabbing, an injury that required several major abdominal surgeries in the years following the attack.

“There is no such thing as a simple surgery. However, this is a scheduled and standardized procedure, so we expect it to be carried out without major complications,” Dr. Birolini stated.

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Potential Additional Procedures Following the hernia repair, the medical team will evaluate whether Bolsonaro can undergo a second procedure: an anesthetic block of the phrenic nerve. This nerve controls the diaphragm, and the intervention would aim to resolve a chronic case of recurrent hiccups that has plagued the former president for years.

Bolsonaro remains under heavy security at the medical facility as he serves his lengthy sentence related to the events surrounding the January 2023 institutional crisis in Brazil.

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International

Trump Orders Construction of New ‘Golden Fleet’ to Revitalize U.S. Naval Superiority

President Donald Trump issued an executive order this Monday for the immediate construction of two new warships that will bear his name. These vessels will be the pioneers of what he described as the “Golden Fleet,” a future generation of “Trump-class” battleships that he claimed would be “100 times more powerful” than those currently in service.

The announcement took place at his private residence in Mar-a-Lago, Florida. The President indicated that following the initial two ships, the administration aims to commission up to 25 additional vessels. He is scheduled to meet with Florida-based contractors next week to expedite production, criticizing existing defense firms for failing to deliver results efficiently.

This naval expansion is a cornerstone of Trump’s goal to revitalized the American shipbuilding industry and address the strategic gap between the U.S. and competitors like China.

The move comes amid heightened geopolitical tension. Just last week, Trump ordered the seizure of all sanctioned tankers involved with Venezuela’s “ghost fleet” to cripple the country’s crude oil industry. Since December 10, the U.S. military—deployed in the Caribbean under the guise of counter-narcotics operations—has already detained two tankers linked to Venezuelan oil transport.

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