My Extraordinary Experiences In Banco Provincia.
As part of my motorcycle courier service, I go to several banks to make payments on behalf of my main customer.
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State Owned Companies Lost US$18 Billion
State Owned Companies Lost US$18 Billion During The Previous Administration
Inflation Drops To 13.2% In February
That’s a monthly rate by the way, but much improved over December 2023 which was around 25%, if we’re still counting.
Prosecutor Wants 12 Years For Ex-President, Cristina Kirchner
Prosecutor Mario Villar requested that Cristina Kirchner be sentenced to 12 years in prison for being the head of the illicit association that operated in the corruption of public works in Santa Cruz. He did so before the Federal Chamber of Criminal Cassation in the case known as “Vialidad”.
Villar assured that the former president was the one who “generated the continued trickle of millions to Lázaro Báez” by signing decrees that allocated funds for public works. At the same time, he assured that “the illicit association is proven”.
This will roll on and on…
President Milei’s Chainsaw Takes Effect!
Just over two months after his stunning election win, Javier Milei is delivering exactly what he promised – more pain, high inflation, but a drastic cutting back of state spending.
We’ve yet to see a drop in inflation because January’s monthly figure of 25% is not really indicative, yet Milei himself has said that a monthly figure of 15% for February would be a major step in the right direction.
His biggest problems are revolts from the Pro party, his removal of funds from social groups, constant threats from unions, endless strikes and possible widespread social unrest. However, his popularity has dropped by at least nine points to around 48%.
More Peronist Scandals Add To Government Election Woes
The Insurralde scandal
The cabinet chief of Buenos Aires province, Martin Insurralde, resigned on Saturday after his girlfriend posted pictures on Instagram of their luxury holiday on board a yacht off Marbella, Spain. Sofia Clerici also posted pictures of gifts that Insurralde had given her including a Rolex watch, jewellery and top of the range handbags. The scandal is exacerbated by the fact that Insurralde represents one of the poorest areas of the province, La Matanza, with 40% of Argentina below the poverty line.
Provincial governor, Axel Kicillof, has tried to play down the scandal, brushing it aside as nothing more than an ethical error. However, Insurralde will have trouble justifying these expenses on a public employee’s salary, not to mention his US$20m settlement with his ex-wife, Jessica Cirio earlier this year.
Cases against for money laundering are now being presented.
Fake employees in La Plata
A man known as ‘Chocolate’ Rigau has been withdrawing cash with 48 debit cards from phantom employee bank accounts, often up to AR$1m per day and AR$30 per month in yet another corruption expose. Rigau is said to be an electrician, but no one has even see him change a light bulb.
Banco Nacion hired a ‘numbers energy creator’
Silvina Batakis, the head of Banco Nacion, a state owned bank, hired an numerologist, “Pitty”, la Numeróloga, for thousands of pesos per month, her ex husband for similar amounts and numerous other people either related distantly or friends, for thousands of dollars per month for doing nothing.
This is the extent of the endemic corruption that is so rife and practically socially and culturally accepted in Argentina over decades.
Blue Dollar Catching Up With Official Exchange Rate.
While the government maintains an artificial exchange rate with the US dollar of around $367, the informal black market rate, also known more commonly as the Blue rate, jumped to $790 yesterday (September 29). Uncertainty, which is the perennial key word in Argentina as of late, largely drives the Blue rate which is considered to be the real rate of exchange.
Many experts predict a huge devaluation in December and a Blue rate of around $1200.
Fasten your seatbelts!
Edited 4th October 2023 to reflect out of control economy with the Blue dollar at $845.
Edited 6th October 2023, dollar at $885.
Edited 26th February 2024, dollar at $1080
Edited 4th April 2024, dollar at $1000.
ESMA Detention Centre Declared World Heritage Site
The former detention and extermination centre has been named as a Heritage Site by UNESCO.
I drive past this macabre building several times a week and have been meaning to visit for a long time. Unspeakable acts were carried out here in the 70s and 80s, so paying one’s respects and learning from history would be my reason for going.
Not only that, I lived in Argentina for part of that military dictatorship and witnessed some of the repression.
Milei Leads In Latest Opinion Poll
If you can believe the polls, Javier Milei (Libertad Avanza) is still in the lead.
The Joys Of COTO Supermarkets
What is it with me and Coto, the stack em high, in your face supermarket?
Anyway, Adri wanted to go the larger one on Maipu, Olivos at 1300 today and I said I’d join her just to keep her company, which I knew was a bad idea.
I become a tad murderous in Argentine supermarkets after three seconds.
This one has a car park the size of a postage stamp, so I volunteered to sit in the queue while she went on ahead as the advance party, which is just as well, since I didn’t make it in until 20 minutes later, jostling for a space to dump the car.
There’s something about the smell of Cotos, which reminds me of bad drains and sewers, and so often I’m tempted to talk to management and ask them why they don’t clean up their act.
As luck would have it, Adri had almost filled up the trolley by the time I tracked her down and I quickly threw in the odd item so as to make the journey slightly more worthwhile.
We were even permitted to purchase Cracker Barrel cheese on this occasion, can you believe?
As usual, the checkouts were choc a bloc, so instead of carrying out harakiri on myself, I snapped a few shots for Google maps, to be uploaded with my review later today. I mean, what else can you do whilst waiting for the twenty questions and the endless reams of paperwork?