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Latin America in Short: Argentina Makes an Economic Readjustment | Kansas Votes on Abortion Rights

This week, Argentina has a new Minister of Economy, who has presented an adjustment plan according to the demands of the IMF. In more global news, Kansas voted yes on abortion rights. This and more summarized here.

Argentine peso and hand in support of abortion

Photo: Pixabay, Méxicosocial

LatinAmerican Post

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Leer en español: Latinoamérica en resumen: Argentina hace un reajuste económico | Kansas vota sí al derecho al aborto

Given the strong inflation situation in Argentina, the southern country has a new Minister of Economy. Massa, the new person in charge, has presented this week an adjustment plan in accordance with the demands of the IMF. In Chile, on the other hand, a very deep hole has appeared in the middle of the Atacama desert. The authorities are investigating. In global news, Kansas, a traditionally conservative state, voted yes to decriminalize abortion. This week is also the week of breastfeeding, so the WHO has invited governments to promote the protection of nursing mothers. Finally, in sports the Super Cup and the Champions League will have a semi-automatic offside system in their next edition.

Argentina presents adjustment plan in accordance with IMF requirements

The new economy minister of Argentina, Sergio Massa, is already showing his cards and presented the plan he has to calm the demands of the IMF and thus send a message of calm to the international markets that hit the fragile southern economy with special force. Massa's plan tries to strengthen the devalued Argentine peso, accumulate reserves and reduce the fiscal deficit. All these measures have been requested by the International Monetary Fund since the beginning of 2022 when an agreement was signed to refinance the 44 billion dollar debt that the South American country has abroad.

The goal, according to Massa, is to reduce the fiscal deficit to 2.5% and for this, not to use the balance of advances from the Central Bank to the Treasury. No more issuance will be requested to finance the Government. It did not close, even so, the door of private financing. Argentina will also deepen in sustaining the value of the peso through increasing international reserves. For this, there will be an income of 7,000 million dollars to the Central Bank and there will be a voluntary swap of public debt in pesos. Now, the most difficult issue is that he will have to reduce subsidies to gas and electricity generating companies, which will lead to an increase in rates for Argentine households with higher incomes. In this way, Minister Sergio Massa and President Alberto Fernández hope to reduce the inflation of the Argentine peso, which is estimated at close to 80% per year in the most optimistic projections.

Also read: Why Is the Price of the Dollar Increasing in Latin America?

The right to abortion wins an important battle in the United States

This, despite the decision of the Supreme Court of the United States to overturn the decision of Roe vs. Wade, which guarantees the right to abortion throughout the country. Now, each of the states must legislate in this regard, which opens the possibility that in the most conservative states, the possibility of a voluntary abortion, or even, for reasons of rape or mother's health, is completely eliminated.

Well, this week, the traditionally conservative state of Kansas voted to keep abortion legal. The state that in 2020 voted 56% in favor of Donald Trump, this time chose the policy supported by Joe Biden. This is the first state to go to the polls to define its decision, after June 24, when the Court, with a conservative majority, granted each state the power to legislate on the subject. This liberal victory within a traditionally conservative state may give a glimmer of hope in other territories that will owe their abortion legislation in the coming months. Likewise, many read this vote as an endorsement of the Democratic agenda, despite a weakened Biden who has skyrocketing inflation, a slowing economy and fuel prices that many cannot afford. With a view to November's midterm elections, he gives hope to a White House that fears losing control of the House of Representatives and the Senate.

WHO: "Breastfeeding is the first vaccine for babies"

This week marks World Breastfeeding Week. UNICEF Executive Director Catherine Russell and WHO Director-General Tedros Adhanom Ghebreyesus made a joint statement urging governments and organizations to allocate more resources to protect lactating mothers, especially the most vulnerable . "Less than half of newborns receive breast milk in the first hour of life, and this makes them more vulnerable to disease and death," the statement said. It also ensures that breastfeeding acts as the first vaccine for babies and protects them against various childhood diseases and helps prevent malnutrition.

A huge hole appears in Chile: the authorities investigate it

A huge sinkhole has appeared in the Atacama region of Chile. It is a hole 32 meters in diameter and 64 deep. That is, higher than the tower of Pisa or a 20-story building. This is an abnormal event that has occurred in a field where copper mining activities are carried out. "This event did not affect people, equipment, or facilities, both inside and on the surface of the mine," the National Geology and Mining Service said in a press release. However, the investigations have not yet concluded and it is speculated that it may be a consequence of extractivist activities and the environmental damage they cause.

The Super Cup and the Champions League will have a semi-automatic out of place

The Super Cup and the Champions League will have a semi-automatic offside system in their next edition. UEFA Chief Referee Mauricio Mochettini said: “This innovative system will allow VAR teams to determine offside situations quickly and more accurately, thus improving game play and consistency of decisions. ” The technology works thanks to cameras that are capable of following up to 29 different body points per player. Since 2020, it has undergone a total of 188 tests.