Latest news with #LaNacion
Yahoo
10-06-2025
- Sport
- Yahoo
Diego Simeone speaks out on Liverpool's Julian Alvarez RAID
© IMAGO 'How can everyone not want him!' Speaking to La Nacion, he said: "Everything is logical, I can't imagine any other scenario: Julian [Alvarez] is 25 years old, he's an extraordinary player, with hunger, with enthusiasm, with humility, with work, with goals, with hierarchy... How could everyone not want him? Advertisement "And Barcelona, PSG, Arsenal, Liverpool... the best have to want him. And for us, Atletico fans, it should be a source of pride that everyone wants him. Why? Because he's ours. And since he's ours, we have to take care of him. We have to help him feel happy. How will he be happy? By winning. "And to get there, we all have to give 110%. And not just for him, of course, but for everyone." If there was every a rallying cry to the fans, denouncing rival club's attempts to sign Alvarez, then that was it - a firm and direct reminder that he is a player Atletico are unwilling to sell this summer. And in fairness, it makes a hell of a lot of sense. The Argentinian is approaching the prime of his career, he only made the move from Manchester City last season and he's made 36 goals and assists in 54 games of his maiden season in Spain - if they can help it, he's not going anywhere.
Straits Times
27-05-2025
- Entertainment
- Straits Times
Milei beefs with Netflix star over price of a dozen empanadas
The price of empanadas – and the impact of Mr Javier Milei's policies on pocketbook issues – dominated headlines on May 26. PHOTO: REUTERS BUENOS AIRES - President Javier Milei and his finance chief criticised a globally known Argentine actor for complaining that the country's staple food was overpriced, stirring debate about how expensive Argentina has become in dollar terms. Mr Ricardo Darin, the award-winning star of Netflix science-fiction hit The Eternaut drew the administration's ire when he told a popular weekend dinner-show host he paid 48,000 pesos (S$54) for a dozen empanadas and questioned Mr Milei's latest tax measures meant to spur dollar spending. The government accused the actor of snobbery and making generalisations after buying a gourmet version of the savory pastry. The price of empanadas – and the impact of Mr Milei's policies on pocketbook issues – dominated headlines on May 26, a preview of what's to come as October midterm elections inch closer. 'There's a lot of people having a very hard time,' Mr Darin said May 24 on Mirtha Legrand's show. 'Empanadas aren't that expensive, Ricardito,' Economy Minister Luis Caputo shot back in a May 25 interview. 'People can eat good empanadas for 16,000 pesos,' Mr Caputo told La Nacion. 'I'm glad he can eat the most expensive ones.' Mr Milei joined in May 26, posting an AI-generated image of Mr Darin from an Instagram story holding a small gold empanada in a jewellery box. Empanadas – a classic takeout option in Argentina – range in price depending on size, ingredients and restaurant status. Mi Gusto, a popular chain on the higher end, sells a dozen for 47,900 pesos. But the median price for 12 in the city of Buenos Aires was 22,000, closer to Mr Caputo's estimate, according to data from the municipal government. Darin defended his remarks Monday when asked by a local television station. 'Of course there are empanadas of every kind – more expensive, cheaper, depending on the neighbourhood,' he told America TV. 'But it's clear what we're talking about. Prices are elevated. People know it.' The president's measures have forcefully tamed inflation, bringing monthly price hikes down to 2.8 per cent from a peak of 25.5 per cent when he took office. But in dollar terms, the peso has strengthened significantly since Milei took office. It was one of the five best-performing currencies around the world in 2024, gaining more than 40 per cent against the US dollar. For locals and foreigners alike that's also made Argentina home to the world's second most expensive Big Mac ($7) and Latin America's priciest cup of coffee ($3.50). Mr Milei's economy will a dominant ballot question in October's midterm vote, when Argentines will elect half of the House of Deputies and a third of the Senate. Investors are watching the election closely to see whether the country is willing to keep backing the libertarian economist in longer-term reforms. 'For the average voter, it's a blessing to be expensive in dollar terms because their buying power goes up,' said economist Martin Rapetti, founder of consultancy Equilibra. 'The thing is salaries in dollar terms went up a ton, but buying power fell.' Prices for some items in the Argentine capital, like the popular pastry, have increased faster than inflation. Empanada prices are up 240 per cent in the city since November 2023, compared with overall consumer price gains of 219 per cent over the same period. 'It is true that the price of empanadas exceeds cumulative inflation and I think it's owed mainly to the fact that the previous government either subsidized or otherwise stepped on food prices,' said Mr Sebastian Menescaldi, an economist at Buenos Aires-based consultancy EcoGo. Everything from wheat flour to milk received government subsidies under Mr Milei's predecessor, Mr Alberto Fernandez, while barriers to meat exports forced down local prices – all of which the libertarian president removed. Meanwhile, price increases since he took office have outpaced pay increases by 3.6 per cent, Mr Menescaldi calculated using the national statistics agency. 'People lost purchasing power,' he said. BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
23-05-2025
- Business
Argentina's Milei unveils bold plan to lure billions in undeclared dollars back home
BUENOS AIRES, Argentina -- Argentina's government on Thursday unveiled an ambitious scheme to bring billions of undeclared U.S. dollars tucked under mattresses or stashed in foreign bank accounts back into the crisis-prone country, as libertarian President Javier Milei seeks to boost Argentina's low international currency reserves and stimulate the limping economy. By eliminating tax reporting requirements, the plan invites savers — who long have swapped their depreciating pesos for American currency in the country's underground market — to spend unreported dollars on everyday transactions at home. The government won't ask questions regarding the source of the repatriated funds, officials promised. 'Your dollars, your decision. What's yours is yours, not the state's,' Milei's presidential spokesperson, Manuel Adorni, said in a press conference announcing the policies. 'You can use them however you want, without having to prove where you got them from.' Milei — who ran on a controversial campaign pledge to 'dollarize' Argentina's troubled economy — wants a new gush of greenbacks to boost the volume of U.S. dollars in circulation. Although Argentina's depleted currency reserves sent Milei backpedaling from his initial campaign trail-fervor for 'burning down' the central bank and adopting the U.S. dollar as the national currency, these latest measures seek to hasten the country's transition to a new currency system that would see dollars gradually replacing pesos. Milei's 'endogenous dollarization' scheme would involve fixing the supply of the local currency even as Argentines could use dollars or pesos. He hopes this would encourage Argentines to use their dollar-denominated savings to buy houses and cars as the economy grows and more cash is needed in circulation. To lay the groundwork, Milei's government last year imposed a generous tax amnesty for Argentines willing to repatriate capital. In April, it lifted most currency controls as part of a $20 billion bail-out deal with the International Monetary Fund, which conditions its support on the government boosting its scarce foreign reserves. 'You can spend those dollars without anyone bothering you. So, you go, you want to buy, I don't know, a house for $200,000, no one has to ask you anything,' Milei told the TV channel of Argentine newspaper La Nacion in an interview Monday. Over decades of financial turmoil, Argentines have come to depend on U.S. dollars to evade a byzantine system of currency controls, hedge against hyperinflation and protect their nest eggs from government freezes, as has happened several times in the country's recent history, such as during the catastrophic 2001 foreign-debt default. 'This is how we reached a catastrophic outcome in which 50% of our economy ended up being informal, and the state, like Big Brother, controlled all of its citizens' transactions, as if they were criminals deserving of punishment,' Adorni said. Argentina's official statistics agency estimates that, as of late 2024, Argentine households and firms held more than $270 billion outside their financial system, largely denominated in U.S. currency. While most of the billions are in foreign bank accounts, a significant amount of cash is also stuffed under mattresses and floorboards and in rented safety deposit boxes in underground vaults across the country. 'Those who do this are not criminals,' Economy Minister Luis Caputo said Thursday. 'They are the vast majority of Argentines who have been abused by excessive taxes and controls. To encourage Argentines to spend their repatriated funds, the new measures scrap strict requirements for businesses and credit card providers to report citizens' purchases to ARCA, Argentina's equivalent of the IRS. They relax strict tax evasion rules so property buyers and public notaries won't need to report transactions. Banks won't be able to request access to clients' tax records. 'It sounds like an invitation not to pay taxes,' said Ignacio Labaqui, a Buenos Aires-based senior analyst at advisory firm Medley Global Advisors. That raises concerns about an injection of potentially dirty funds, some of which could be the product of illegal activity. Asked about the danger created by the new fiscal incentives, the IMF sounded a cautious note. 'The authorities have committed to strengthening financial transparency,' said Julie Kozack, an IMF spokesperson. 'Any new measures, including those that may be aimed at encouraging the use of undeclared assets, should be, of course, consistent with these important commitments.'
Winnipeg Free Press
22-05-2025
- Business
- Winnipeg Free Press
Argentina's Milei unveils bold plan to lure billions in undeclared dollars back home
BUENOS AIRES, Argentina (AP) — Argentina's government on Thursday unveiled an ambitious scheme to bring billions of undeclared U.S. dollars tucked under mattresses or stashed in foreign bank accounts back into the crisis-prone country, as libertarian President Javier Milei seeks to boost Argentina's low international currency reserves and stimulate the limping economy. By eliminating tax reporting requirements, the plan invites savers — who long have swapped their depreciating pesos for American currency in the country's underground market — to spend unreported dollars on everyday transactions at home. The government won't ask questions regarding the source of the repatriated funds, officials promised. 'Your dollars, your decision. What's yours is yours, not the state's,' Milei's presidential spokesperson, Manuel Adorni, said in a press conference announcing the policies. 'You can use them however you want, without having to prove where you got them from.' Milei — who ran on a controversial campaign pledge to 'dollarize' Argentina's troubled economy — wants a new gush of greenbacks to boost the volume of U.S. dollars in circulation. Although Argentina's depleted currency reserves sent Milei backpedaling from his initial campaign trail-fervor for 'burning down' the central bank and adopting the U.S. dollar as the national currency, these latest measures seek to hasten the country's transition to a new currency system that would see dollars gradually replacing pesos. Milei's 'endogenous dollarization' scheme would involve fixing the supply of the local currency even as Argentines could use dollars or pesos. He hopes this would encourage Argentines to use their dollar-denominated savings to buy houses and cars as the economy grows and more cash is needed in circulation. To lay the groundwork, Milei's government last year imposed a generous tax amnesty for Argentines willing to repatriate capital. In April, it lifted most currency controls as part of a $20 billion bail-out deal with the International Monetary Fund, which conditions its support on the government boosting its scarce foreign reserves. 'You can spend those dollars without anyone bothering you. So, you go, you want to buy, I don't know, a house for $200,000, no one has to ask you anything,' Milei told the TV channel of Argentine newspaper La Nacion in an interview Monday. Over decades of financial turmoil, Argentines have come to depend on U.S. dollars to evade a byzantine system of currency controls, hedge against hyperinflation and protect their nest eggs from government freezes, as has happened several times in the country's recent history, such as during the catastrophic 2001 foreign-debt default. 'This is how we reached a catastrophic outcome in which 50% of our economy ended up being informal, and the state, like Big Brother, controlled all of its citizens' transactions, as if they were criminals deserving of punishment,' Adorni said. Argentina's official statistics agency estimates that, as of late 2024, Argentine households and firms held more than $270 billion outside their financial system, largely denominated in U.S. currency. While most of the billions are in foreign bank accounts, a significant amount of cash is also stuffed under mattresses and floorboards and in rented safety deposit boxes in underground vaults across the country. 'Those who do this are not criminals,' Economy Minister Luis Caputo said Thursday. 'They are the vast majority of Argentines who have been abused by excessive taxes and controls. To encourage Argentines to spend their repatriated funds, the new measures scrap strict requirements for businesses and credit card providers to report citizens' purchases to ARCA, Argentina's equivalent of the IRS. They relax strict tax evasion rules so property buyers and public notaries won't need to report transactions. Banks won't be able to request access to clients' tax records. Monday Mornings The latest local business news and a lookahead to the coming week. 'It sounds like an invitation not to pay taxes,' said Ignacio Labaqui, a Buenos Aires-based senior analyst at advisory firm Medley Global Advisors. That raises concerns about an injection of potentially dirty funds, some of which could be the product of illegal activity. Asked about the danger created by the new fiscal incentives, the IMF sounded a cautious note. 'The authorities have committed to strengthening financial transparency,' said Julie Kozack, an IMF spokesperson. 'Any new measures, including those that may be aimed at encouraging the use of undeclared assets, should be, of course, consistent with these important commitments.' ___ Associated Press writers Almudena Calatrava and Debora Rey in Buenos Aires, Argentina, contributed to this report.
Yahoo
22-05-2025
- Business
- Yahoo
Argentina's Milei unveils bold plan to lure billions in undeclared dollars back home
BUENOS AIRES, Argentina (AP) — Argentina's government on Thursday unveiled an ambitious scheme to bring billions of undeclared U.S. dollars tucked under mattresses or stashed in foreign bank accounts back into the crisis-prone country, as libertarian President Javier Milei seeks to boost Argentina's low international currency reserves and stimulate the limping economy. By eliminating tax reporting requirements, the plan invites savers — who long have swapped their depreciating pesos for American currency in the country's underground market — to spend unreported dollars on everyday transactions at home. The government won't ask questions regarding the source of the repatriated funds, officials promised. 'Your dollars, your decision. What's yours is yours, not the state's,' Milei's presidential spokesperson, Manuel Adorni, said in a press conference announcing the policies. 'You can use them however you want, without having to prove where you got them from.' Milei — who ran on a controversial campaign pledge to 'dollarize' Argentina's troubled economy — wants a new gush of greenbacks to boost the volume of U.S. dollars in circulation. Although Argentina's depleted currency reserves sent Milei backpedaling from his initial campaign trail-fervor for 'burning down' the central bank and adopting the U.S. dollar as the national currency, these latest measures seek to hasten the country's transition to a new currency system that would see dollars gradually replacing pesos. Milei's 'endogenous dollarization' scheme would involve fixing the supply of the local currency even as Argentines could use dollars or pesos. He hopes this would encourage Argentines to use their dollar-denominated savings to buy houses and cars as the economy grows and more cash is needed in circulation. To lay the groundwork, Milei's government last year imposed a generous tax amnesty for Argentines willing to repatriate capital. In April, it lifted most currency controls as part of a $20 billion bail-out deal with the International Monetary Fund, which conditions its support on the government boosting its scarce foreign reserves. 'You can spend those dollars without anyone bothering you. So, you go, you want to buy, I don't know, a house for $200,000, no one has to ask you anything,' Milei told the TV channel of Argentine newspaper La Nacion in an interview Monday. Over decades of financial turmoil, Argentines have come to depend on U.S. dollars to evade a byzantine system of currency controls, hedge against hyperinflation and protect their nest eggs from government freezes, as has happened several times in the country's recent history, such as during the catastrophic 2001 foreign-debt default. 'This is how we reached a catastrophic outcome in which 50% of our economy ended up being informal, and the state, like Big Brother, controlled all of its citizens' transactions, as if they were criminals deserving of punishment,' Adorni said. Argentina's official statistics agency estimates that, as of late 2024, Argentine households and firms held more than $270 billion outside their financial system, largely denominated in U.S. currency. While most of the billions are in foreign bank accounts, a significant amount of cash is also stuffed under mattresses and floorboards and in rented safety deposit boxes in underground vaults across the country. 'Those who do this are not criminals,' Economy Minister Luis Caputo said Thursday. 'They are the vast majority of Argentines who have been abused by excessive taxes and controls. To encourage Argentines to spend their repatriated funds, the new measures scrap strict requirements for businesses and credit card providers to report citizens' purchases to ARCA, Argentina's equivalent of the IRS. They relax strict tax evasion rules so property buyers and public notaries won't need to report transactions. Banks won't be able to request access to clients' tax records. 'It sounds like an invitation not to pay taxes,' said Ignacio Labaqui, a Buenos Aires-based senior analyst at advisory firm Medley Global Advisors. That raises concerns about an injection of potentially dirty funds, some of which could be the product of illegal activity. Asked about the danger created by the new fiscal incentives, the IMF sounded a cautious note. 'The authorities have committed to strengthening financial transparency,' said Julie Kozack, an IMF spokesperson. 'Any new measures, including those that may be aimed at encouraging the use of undeclared assets, should be, of course, consistent with these important commitments.' ___ Associated Press writers Almudena Calatrava and Debora Rey in Buenos Aires, Argentina, contributed to this report.
