Travel Reference
In-Depth Information
blood clot on her brain in 2013. She lost even more political support in the October 2013
mid-term elections. This made the possibility of a Chavez-like third term - currently not
allowed in the constitution, but something many thought Cristina was after - very un-
likely.
But nobody can write 'la presidenta' off yet - she still maintains majorities in both
chambers, her term won't be up until 2015 and she's been known to make comebacks.
And despite her many detractors, Cristina has made admirable social strides. She has ad-
dressed abuses perpetrated by the military dictatorship, championed same-sex marriage
laws and, above all, supported the blue-collar classes. And her people will still love her
for it, just as they did Evita.
Economic Woes
Argentina's currency devaluation in 2002 caused surging demand for its suddenly cheap
agricultural products. Helped along by skyrocketing government spending and strong
growth in Brazil and China, this economic boom lasted through 2007 and revved up
again in 2010. But high inflation, a stronger peso and lower commodity prices have
reined in the economy.
In October 2011, in an effort to curb the flow of capital heading overseas, the govern-
ment started requiring Argentines to substantiate their purchases of US dollars. This cre-
ated a black market for US dollars, which are highly sought after as a stable currency.
And the real-estate market stalled, since purchases were pretty much always transacted in
US dollars.
Many economists believe that the government needs to reduce spending and stop bor-
rowing from its central bank; control inflation; and maintain foreign-exchange reserves.
Moreover, government policies need to become more transparent to encourage both do-
mestic and foreign investment. These are tall orders and go against the traditional Argen-
tine economic flow, but recession and even devaluation are increasing risks. Who knows
- maybe another crash is just what Argentina needs to get on top again.
(Almost) Everyone Loves the Pope
After Cardinal Jorge Mario Bergoglio, the archbishop of Buenos Aires, was named pope
in March 2013 he took the name Francis I. Not only was he the first pontiff to bear that
moniker, he was also the first to hail from the Americas and the first to belong to the Je-
suit order. It's a fair bet that he's also the first pope to have grown up drinking mate, tan-
going at milongas and ardently supporting the San Lorenzo fĂștbol club.
Search WWH ::




Custom Search