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 to skip COP30 in Brazil but plans future visit, Lula confirms
Brazil’s President Luiz Inácio Lula da Silva announced that Pope Leo XIV will not attend the COP30 climate summit in Belém, but will visit Brazil “at the right moment,” following their meeting on Monday at the Vatican.
“I invited him to come to COP30, considering the historic importance of hosting a Climate Conference for the first time in the heart of the Amazon. Due to the Jubilee, the Pope told us he will not be able to attend,” Lula wrote on X (formerly Twitter).
Although the pontiff will not be present at the 30th United Nations Climate Change Conference, he assured that the Vatican will be represented and confirmed his intention to visit Brazil in the near future.
“We were very happy to hear that His Holiness intends to visit Brazil when the time is right. He will be warmly welcomed with the affection, hospitality, and faith of the Brazilian people,” the president said.
Lula also congratulated the Pope on his first exhortation, Dilexi Te, which focuses on poverty, and emphasized that “faith cannot be separated from love for the poor.”
“I told him we need to build a broad movement of indignation against inequality, and I see this document as a reference that should be read and practiced by everyone,” Lula added.
International
Venezuela calls for continued global pressure to secure ‘just peace’ for Palestine
The Venezuelan government stated on Monday that international pressure “must continue” until a “just peace” is achieved for Palestine, as the official end of the war in Gaza is expected to be signed later today—an agreement that follows the release of surviving Israeli hostages and Palestinian prisoners.
In an official statement, President Nicolás Maduro’s administration emphasized that “the global popular mobilization, along with political and diplomatic pressure from the international community—including Arab and Muslim nations—has been decisive in paving the way for this peace process.”
The statement further urged that “such mobilization must continue until the full implementation of international law, particularly the United Nations Security Council resolutions that call for the withdrawal of occupying forces from territories invaded in 1967 and the establishment of the State of Palestine with East Jerusalem as its capital.”
The Venezuelan government noted that the agreement comes “after the near-total destruction of the Gaza Strip, where more than 65,000 people—mostly children, women, and defenseless civilians—were killed by the criminal bombings of Zionist occupying forces, in flagrant violation of international humanitarian law.”
“Venezuela maintains that true peace can only be achieved through the application of international justice, which must include the investigation and prosecution of war criminals and human rights violators responsible for the atrocities committed against the Palestinian people,” the statement concluded.
The peace accord is expected to be signed Monday in the Egyptian resort city of Sharm el-Sheikh. Neither Israel nor the Palestinian group Hamas will attend the ceremony, which will be attended by around thirty heads of state, government leaders, and representatives of international organizations.
International
Mexico reports 64 dead, 65 missing after devastating central region floods
The Mexican government reported on Monday that 64 people have died and 65 remain missing following the heavy rains that struck five central states between October 6 and 9. The storms left thousands affected and caused severe damage to homes, businesses, and infrastructure across 111 municipalities.
According to Laura Velázquez, head of the National Civil Protection Coordination (CNPC), the fatalities were distributed as follows: Veracruz (29), Hidalgo (21), Puebla (13), and Querétaro (1). The figures were confirmed during President Claudia Sheinbaum’s daily press briefing.
Velázquez also stated that 65 individuals are still unaccounted for in the states of Veracruz (18), Hidalgo (43), and Puebla (4). “We understand the population’s anguish and concern. Everyone will receive assistance. Cleanup operations will be carried out in full, with no resources spared,” President Sheinbaum assured.
The Civil Protection chief explained that the rainfall report from October 6 to 9 showed maximum precipitation levels on October 8 — 280 millimeters in Veracruz and 286 millimeters in Puebla — causing rivers and streams to overflow in surrounding areas.
The updated report also detailed 111 municipalities affected: Veracruz (40), Hidalgo (28), Puebla (23), Querétaro (8), and San Luis Potosí (12).
Since October 10, the Mexican government has been holding continuous emergency sessions in coordination with state authorities to address the crisis and provide relief to affected populations.
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