Argentina
Argentine President Javier Milei achieved an important victory with the legislative approval—in the Chamber of Deputies—of a controversial and sparse decree enabling him to sign a new agreement with the Washington-based global lender. Part of the controversy was the rare use of an emergency decree and not the usual legislative procedure—i.e., a bill—to deal with an issue that, from a certain legal interpretation, required it. However, even deputies usually criticized by the Pink House's communications army for generally opposing Milei's measures understand that reaching new conditions with the IMF is important in some way—and therefore a move not subject to veto this time. The South American nation is still grappling with a 2022 deal close to $45 billion negotiated by former president Mauricio Macri. “I have a critical view of the (decree). I think it lacks explanations .... but I think we need to think primarily about Argentina,” said opposition Congressman Miguel Pichetto.
Others on the left were highly critical instead. “This is one more event of a kind of state of exception which Javier Milei has been ruling by force of [decrees] and vetoes... Since when [decrees have been used] for when you don't have the votes in Congress? It is aberrant what they are voting today, it is bad, and it cannot be legitimized”, said Deputy Cristian Castillo. Peronism stresses that if it returns to the Pink House, it will not recognize the new bases in the relationship with the IMF. As Reuters acknowledges here, despite having little muscle of its own in Congress—a body often reduced to an embarrassing chicken coop—La Libertad Avanza has managed to muster enough support to navigate the turbulent legislative waters of Argentine politics in most storms.
The era of the influential libertarian politician leading the business of Balcarce 50 has been marked by a representative improvement in the macro economy, which could be underpinned by the spillover effect of a fresh restart with the Kristalina Gueorguieva-commanded institution. Even though last February's nominal register fell well below market expectations by 66%, the owner of the Rivadavia chair can boast about the fifteenth consecutive month with a trade surplus. But the problem lies in the “kitchen table issues” due to the erosion that the drastic budget cuts pushed by the Argentine president have meant for many Argentines and the lack of answers especially for the most vulnerable. With a new and powerful capital inflow, there are also fears of yet another edition of the “capital flight” movie that Argentines know well. However, late in the afternoon, the local markets reacted in a representative and positive way to the victory of the libertarians.
Argentina’s lower house of Congress upholds President Javier Milei’s emergency executive decree backing a new deal with the IMF, a key legislative step that clears the way for a formal announcement. https://t.co/1VR9xzuJZQ
March 19, 2025— Bloomberg (@business)
Quick notes
Four workers at a coffee farm in the western department of Antioquia, Colombia, were murdered on Tuesday by armed men who abandoned their bodies on a nearby road. The Gulf Clan is reported to have a strong presence in the area.
Nearly 60 women have been murdered in Honduras so far this year, confirming the negative leadership in femicide rates across the region. It is not just that these events—very difficult to prevent in my opinion—occur, but the impunity that bathes the “investigations”. EFE reports that “95% of the cases of murdered women” are unpunished .
The USAID saga
A rare relation?
Breaking from @AP: A member of Elon Musk’s DOGE team taking a leadership role at USAID, the agency DOGE has helped dismantle, according to an email from State official. https://t.co/TM2rPPTbJO
March 19, 2025— Ellen Knickmeyer (@EllenKnickmeyer)
Immigration
This 👇 law continues being challenged in court anyway.
The Trump Administration has dropped federal legal challenges to stop SB4, the Texas law that would allow local police to act as immigration enforcement. https://t.co/jFXBbCroP0
March 19, 2025— Voces Unidas RGV (@VocesUnidasRGV)
