Stories that caught our eye: August 1 to 7

LAND LAW LANGUISHES

The government was obliged to withdraw the chapter removing all restrictions on the sale of land to foreigners from its private property bill in midweek on the eve of its Senate debate. At the start of the week the government had already diluted the legislation by raising the current 2011 cap on foreign ownership from 15 to 25 percent (with Senate La Libertad Avanza caucus chief Patricia Bullrich terming it “a reasonable limit at the request of the constructive opposition” and pointing out that foreign states remained barred) instead of removing all restrictions but this did not wash with even moderate senators refusing to back an initiative widely seen as a surrender of sovereignty. Removal of the chapter did not suffice to head off demonstrations outside Congress during the debate since the bill also included other sensitive items such as facilitating evictions but Thursday’s heavy rainfall dampened turnout although thousands still joined the protest, which included minor clashes with the police. 

BRAZIL: TENSION MOUNTING

In an escalation of the tension between South America’s two largest countries ever since President Javier Milei insulted his Brazilian counterpart Luiz Inácio Lula da Silva at a Brazilian opposition rally in São Paulo in the last weekend of July, Itamaraty Foreign Ministry announced on Tuesday that its Ambassador to Buenos Aires Julio Bitelli would not be returning with Brasília represented here by its chargé d’affaires. The Brazilian government justified its decision by saying that Milei had reiterated his insults of calling Lula a “thief” instead of apologising for them. The next day the Lula administration escalated the tension a notch further by asking the Argentine Ambassador to Brasília Daniel Raimondi to leave.

PAPAL VISIT CONFIRMED

Pope Leo XIV will visit Argentina between November 8 and 11, the Vatican confirmed last Wednesday in a brief communiqué reading as follows: “The Press director of the Holy See, Matteo Bruni, informed on August 5 that “the Holy Father Leo XIV will make an Apostolic Journey to Uruguay, Argentina and Peru from November 6 to 17, 2026, accepting the invitation of the heads of state and the ecclesiastical authorities in the respective countries. His Holiness will visit Montevideo, Paysandú and Florida from November 6 to 8, Buenos Aires, Córdoba and Luján from November 8 to 11 and Lima, Chiclayo, Cuzco and Pucallpa from November 11 to 17. The programme of the journey will be made known in due course,” it added.

SAN CAYETANO

The classic march for San Cayetano (or Saint Cajetan, as the 16th century Neapolitan saint Gaetano di Thiene is called in English and an icon for the vulnerable here since the depression year of 1930) was held yesterday with social organisations, trade unions and pickets mobilising under the slogan “Tierra, Techo y Trabajo (Land, a roof and a job)" for the 10th year running alongside the faithful. The celebration started on Thursday evening with a vigil at San Cayetano church in Liniers. At 8am yesterday Buenos Aires Archbishop Jorge Ignacio García Cuerva headed a mass for workers. This was followed by marching on Plaza de Mayo during the morning for the final event in front of the Casa Rosada around 1pm, disrupting traffic and various bus routes.

A TALE OF TWO STRIKES 

Harbour pilots and schoolteachers held disruptive strikes in the first half of the week. The government reached agreement with the former last Tuesday, lowering their fees by 20 percent in exchange for “temporarily” suspending Decree 690/2026 (authored by Deregulation & State Transformation Minister Federico Sturzenegger and abruptly published in the Official Gazette on the last day of July), which completely deregulated their work and provoked the stoppage. A working panel, including representatives of the Security and Defence Ministries, will be set up to debate future norms for the activity and arrive at a final consensus. The strike paralysing over 140 freighters was costing the farm sector over US$4.5 million daily. “Argentina needs its rivers to be a highway for development, not a regulatory toll-booth,” Sturzenegger had said in defence of his uncompromising deregulation. The nationwide teacher strike called by Ctera union was held on Monday to protest the denial of collective bargaining and low pay ranging from almost 2.3 million pesos in Neuquén to just over a million in Catamarca with a national average of around 1.2 million. Ctera claimed 90 percent adhesion in Buenos Aires Province but City Hall admitted to only 27 percent, docking the pay of shirking teachers. The government had pledged inspectors to control the strike and ensure that 75 percent of classes were taught in accordance with its labour legislation but there was little sign of them on the day – opinion was divided as to whether this was a bluff or whether there was obstruction by the Buenos Aires Province government.

RESERVES TOP US$50B

Central Bank reserves topped US$50 billion for the first time in seven years around the close of the Mauricio Macri presidency, it was announced on Wednesday (US$50.59 billion, to be exact), following purchases of US$417 million on that day. A 3.8 percent surge in world gold prices due to Middle East developments was the chief factor behind the milestone.

RED CARD FOR VILLARRUEL

At the turn of the month Cabinet Chief Diego Santilli called for the resignation of Vice-President Victoria Villarruel over her criticisms of President Javier Milei, saying: “If anyone disagrees, they should step aside, form their own group and compete.” Villarruel had expressed “genuine concern for his state [of mind] and the imaginary persecutions in Argentina and abroad to which he replies,” claiming that he had no more evidence for his affirmations than the “inventions of the microbe brain of Bolukalo” in reference to the libertarian deputy Lilia Adela Bolukalo Lemoine.

ANOTHER MOYANO SCANDAL

Tuesday’s news was dominated by massive media coverage of a scandal prompted by security camera footage of trade unionist and ex-deputy Facundo Moyano of the powerful teamster clan chasing his half-naked girl-friend Candela Arizaga down the Avenida del Libertador in the small hours of that day. Moyano was arrested on suspicion of attempted rape or abduction but released at the end of the day following Arizaga’s clarification that the couple had been engaged in days of sustained substance abuse ending in Moyano’s hallucinations which spooked his girl-friend into running down the street in a state of undress. Still a scandal.

KOREA CALLING

Just before last weekend President Javier Milei received his South Korean counterpart Lee Jae-Myung for a bilateral meeting also attended by ministers and senior officials from both countries. Lee congratulated Milei for lowering inflation and implementing the RIGI (Régimen de Incentivo para Grandes Inversiones) incentive scheme for major investments, according to a presidential communiqué. Their dialogue centred on strengthening bilateral trade with special emphasis on energy, critical minerals and food, as well as underlining the importance of artificial intelligence as an engine of economic growth. Prior to the meeting Foreign Minister Pablo Quirno informed that the two countries had signed a Memorandum of Understanding to deepen cooperation in critical minerals, especially lithium for use in batteries and advanced technology. “Our alliance will translate into investment, production, employment and a greater Argentine presence in global chains of technology,” concluded Quirno.

ROSALIA APOLOGISES

The Spanish singer Rosalía on tour here apologised to her Argentine fans at her concert last Saturday night after the avalanche of criticisms received over her reposting a TikTok video celebrating Spain’s victory over Argentina in last month’s World Cup final while insinuating criticisms of their rivals. Praising her fans as “the best public there is on Earth,” Rosalía claimed that she had not paid much attention to the offending video, quickly deleting it and already apologising on Instagram. She arrived here on July 30 to give four “Lux Tour” concerts at the Movistar Arena with 50,000 tickets sold in advance and many social network users calling for a boycott.