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Argentina’s economy is collapsing. Here come the Peronistas, again

The peso is falling — and so, it seems, is the sky. Inflation and poverty rates are soaring. National reserves are shrinking fast. In short, Argentina — in a terrible deja vu of crises past — is hurtling once again toward the economic abyss. But on the bar stools and wooden chairs of Santa Evita, a grill house dedicated to Eva “Evita” Perón, the political heroine who died a Broadway-worthy death in 1952, the customers are retranqui,…

Argentina profile – Timeline

A chronology of key events: 16th century – Spanish colonisation of the River Plate coast and inland areas begins. 1774 – Spain settled the Malvinas Islands. 1776 – Spain establishes separate Viceroyalty of the River Plate. 1806 – First English Invasion of Buenos Aires. British force of 1,500 men under Colonel William Carr Beresford occupied the city, for about six weeks until surrendering in mid-August. 1807 ( July) – Second English invasion of Buenos Aires. The British…

Argentine and Brazil agribusiness have an “ecological surplus”

Economist Nicolás Torre, from the IERAL Institute of the Mediterranean Foundation, published an extensive thread on the social network Twitter, highlighting that both Argentina and Brazil have a positive “ecological footprint”. That is, they have more natural resources available than those they consume annually to survive. Torre’s report came in response to accusations against South America in recent weeks. First by The President of France, Emmanuel Macron, when he said that Brazil…

Speculation vs. opportunism – a dangerous difference

The ability to be flexible and reactionary appeals to many would-be investors. They like the idea of identifying an opportunity and seizing it with gusto, certain it will pay handsomely. I agree there are advantages to being quick on your feet when locking down an opportunity, but this sort of transaction should trigger a moment of self-assessment. When making the choice on whether to purchase, ask yourself, “Am I a speculator or opportunist,” because the differences between the two are dramatic…

Properties. Where are the most expensive and cheapest neighbourhoods in Greater Buenos Aires

Gran Buenos Aires ( B.A. Province ) is home to almost 10 million inhabitants and many differences in property values. The scenario in 2019 shows the lowest values in some localities in the South, and peaks in Northern such as San Fernando, with numbers coming to exceed the prices of the prefered points of the Capital. The difference between the two ends can be more than seven times. The data is derived from the publications made on the Zonaprop site. According to a survey of the portal, the most exclusive neighbourhood…

Buenos Aires Classic Styled Racecourse

It was one of the first places in Argentina where all the social classes were mixed together. Towards the end of the 19th century, horse racing was one of the main collective attractions of the inhabitants of the City of Buenos Aires. They say that on the day of their inauguration, on May 7, 1876, around 10,000 people were able to see the first race on the track that today has been witnessing the history of the Argentine turf. The racecourse of Palermo was a major event for the society in its hayday. There,…

Latam Investor – Argentines Macri Miracle Ends in Default

When Mauricio Macri was elected in 2015 it seemed to herald a new era for Argentina. Now it looks like being more of the same. In August Buenos Aires announced that it would reprofile its debt. In effect it’s another default, with investors having to take a write down for having lent to the Argentine government for the fourth time in the last 30 years and the ninth time since independence from Spain. It’s a sad culmination to a presidency that began with such hope. When Macri came to power his early…

Argentina economy needs Intensive Care to recover

Argentina’s President Mauricio Macri knew that he had inherited a sick economy when he took office in 2015 but failed to put in place the medicine. As a result, the country now has no choice but to face up to a period of painful structural adjustment. Imagine a man who has lived too extravagantly and eventually must go to the doctor for treatment of an acute disease, along with several other chronic conditions. The doctor prescribes a ten-day course of antibiotics, and advises his patient to start taking…

Potential new Argentine President Alberto Fernández is like a matryoshka doll, “you open it and out pops, Cristina, Lula, Chavez…”

Argentine primary winner, Alberto Fernandez is like the Russian mamushka doll, “you open it and out pops Cristina Fernandez, again you open it and out pops Lula, and again, Hugo Chavez”, said Brazilian foreign minister Ernesto Araújo. Money leaving Ezeiza after the shock election result Araújo joined president Jair Bolsonaro, and Finance minister Paulo Guedes is openly expressing their aversion to the current political situation in Argentina, and the possibility of a return to office…

Selling Exclusive or Unique Real Estate is a challenge in any market but none more so than in South America

  Selling Exclusive or Unique Real Estate is a challenge in any market but none more so than in South America Advice for the new broker looking to get into the Luxury  Property Market Ok, you’ve just taken your first million-dollar-plus listing. After celebrating your victory over the area’s top luxury agent, reality will no doubt begin to set in. If you don’t know the first thing about marketing high-end properties, you may wonder what you’ve gotten yourself into. You should…

Argentina’s beleaguered government imposes capital controls

Fear of a return of the authoritarian and highly corrupt previous Kirchner government provokes a market crash, forcing the president’s hand When Maurico Marci was elected president of Argentina in 2015, one of his first acts was to abolish capital controls that restricted buying and selling of the peso. The move symbolised Argentina’s pivot back to open markets and liberal economic reforms under his rule. On September 1st, after weeks of market turmoil, Mr Macri was forced to issue a decree reimposing…

Buenos Real estate sales weak but prices keep rising?

The average price per square meter is around USD 2,330, close to a record. The owners prefer to delay selling rather than accept a lower price. This is not a new characteristic of the local market but reflects that few home owners have mortgagees so do not feel pressured to sell at what they see as a temporary pause. Whether this attitude will change with a likely change of government that has in the past put capital controls on the currency and wrecked the economy will remain to be seen but the high flow of…

Buenos Aires: recycling, environmental education, LED lights, parks and bikes all make it more a sustainable city

The development of a sustainable and modern metropolises that promote growth without neglecting the environment is one of today’s most important challenges. With small and large-scale recycling, environmental education programs, energy savings, the sustained increase in woodland and parked hectares, and the boost to bicycle use, the Government of Buenos Aires is working to make Buenos Aires a city every day cleaner and greener. Learn to recycle more and efficiently Thanks to the recycling programs already…

Argentine Crisis: the Real Estate Sector approaches 2001 levels

In July there was an improvement compared to June, but those numbers of real estate sales in the city of Buenos Aires does not reflect the 14 months of consecutive year-on-year decline, a historical cycle similar to what happened after the 2001 crisis, although still far from the exchange rate crisis, during the presidency of Cristina Kirchner, which caused 25 months of falling prices. Last July there were 3208 operations, according to the Colegio de Escribanos porteño, 18.7% more than in June, but a…

Argentina seen through different eyes

Historians will normally agree that history is best written by those who are not nationals of the country they are writing about. So it is not surprising that when The New York Times sent a journalist to cover the Southern Cone, once said that Argentina was like a five-star hotel in which all the guests were complaining about the room service. His metaphor had a message: that those fractious hotel guests had no reason to complain about the room service. They merely had to stop bickering and recognise what they…
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