Read this news report on Argentina from Sofia D.

Argentina

Sofia D.

4/15/22

Argentina is a country located in the southern half of South America. It is the largest Spanish speaking country in the world by area as it covers 2,780,400 km. It has vast natural resources in both energy and agriculture along with extraordinary fertile lands and has great potential for renewable energy. Argentina is also a leading food producer with large scale agriculture and livestock industries. The country additionally has significant opportunities in some manufacturing subcontractors and innovative services in high tech industries. Throughout the last week Argentina has been faced with some major changes in their country. One of the biggest changes being their highest inflation rates in the last 20 years. Just like the rest of the world the current war between Russia and Ukraine has affected the economy immensely. According to the National Institution of Statistics and Census (INDEC), education rose by 23.6 percent followed by clothing and footwear by 10.9 percent. The inflation has affected other areas of Argentina as well. Argentina’s Central Bank has raised their interest rates for the fourth time this year to 47 percent as well as the effective annual rate that is correlated to the compound interest to 58.7 percent. This of course has all been the result of the inflation that the war has caused. On the political spectrum there are some in Juntos por el Cambio which is a centre-right political coalition in Argentina that was created 2015 composed of Republican Proposal, Radical Civic Union, and Civic Coalition ARI who want the former president to step aside who was trying to convince some of the opposition that they should not support the government’s debt agreement with the International Monetary Fund (IMF). He argued that qualified opinions had been informing him that the negotiations were disappointing and assuring that if everything came to grief Kirchnerism would place them in the role of accomplices. On a different subject matter, the VP of Netflix Latin America content, Francisco Ramos, has announced the new original projects set to come out including “Hecho en Argentina” (Made in Argentina) which will be made up of documentaries, original productions, and other titles made in the country. With the making of these new productions it has symbolized the advancement forward for Latin America streams.

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