TFIGlobal
TFIGlobal
TFIPOST English
TFIPOST हिन्दी
No Result
View All Result
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
TFIGlobal
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
No Result
View All Result
TFIGlobal
TFIGlobal
No Result
View All Result
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean

A leftwing Argentina’s fall is a boon for its right-wing neighbour Uruguay

Vishwas Makkar by Vishwas Makkar
July 11, 2022
in Americas, China
A leftwing Argentina’s fall is a boon for its right-wing neighbour Uruguay

Source- INFOBAE

Share on FacebookShare on X

The Argentine economic structure is on the fall and a crisis of faith in the current leftwing government is on the rise. Reports of infighting between the country’s President Alberto Fernández and his Vice President, Cristina Fernández de Kirchner have paralyzed the decision-making power of the government.

To make matters worse, the creator of Argentine’s IMF program, i.e, the economy minister Martin Guzman, quit on 2nd July and was replaced by economist Silvina Batakis, who is known to be close to the powerful Vice President Cristina Fernandez de Kirchner.

Also Read

Indian FM Jaishankar Meets Xi Jinping Amid NATO’s Sanctions Threat on China and India

Narco-Terror Nexus Spanning China, Canada and Pakistan Discovered by US-DEA

NATO & U.S. to Impose Sanctions on Brazil, China & India Over Russia: Will BRICS Push Back?

Argentine Economy in Free Fall

Argentina, a major global seller of soybeans, corn, and wheat, has been witnessing its securities fall to historic lows, the local currency is under enormous pressure and the outflow of reserves to cater to the energy import is preventing it from ramping up crucial dollar holdings.

Cristina Fernandez, former president of Argentina, announces vice presidential bid - Los Angeles Times
Cristina Fernandez, Source- Los Angeles Times

The global economic crisis has further fueled the misfortune of the Argentine population. Domestic inflation is on the rise and is expected to hit around a whopping 70% by the end of this year. Interest rates are being ramped up to prevent the fall of the local currency. The Central bank would surely deliberate the monetary policy to control inflation, thereby halting growth.

China’s influence in Latin American countries should not come as a surprise. Argentina is considered much of a China dove and the country doesn’t like to rely on its mighty neighbor in the North. Argentina has been a part of China’s multi-trillion-dollar Belt and Road Initiative, which includes more than $23 billion in investment and cooperation agreements. The economic failure of nations possessing huge Chinese debt has almost become a trend now with Argentina next on the list.

Read More: Uruguay’s right-wing government has begun the expulsion of Chinese companies

Chinese President Xi Jinping has a habit of forwarding loans on the pretext of export cooperation but soon uses his newfound influence in the invested country to orchestrate an economic crisis and take over the reins of the local political system to suit its needs. Several examples like Pakistan and Sri Lanka have already been a part of Xi’s plan.

Uruguay Right-Wing Government Gains from the Argentina Crisis

Uruguay has profited from the terrible policies of the president of Argentina. Over the past two years, Uruguay, a tiny nation of only 3.4 million people, has been attracting some of richest entrepreneurs of Argentina to settle there by promising them economic stability, a tax vacation on their international income, and a more laid-back lifestyle. Reports from the Uruguayan foreign ministry indicate around 13000 Argentines looking for a residence in Uruguay.

Read More: Both UK and Argentina want India to resolve the Falkland issue

According to Ignacio Munyo, director of Uruguay’s Center of Economic and Social Reality Studies (CERES), Uruguay’s economy is expected to grow by 5% this year and become one of the fastest-growing economies in Latin America. The growth is the product of investments in the paper mill industry, train projects, and the influx of Argentine nationals mainly. The property market in Uruguay is all set to become a key driver of the country’s economy. Wealthy Argentines are setting up residences in the seaside resort of Punta del Este, thus orchestrating the influx of millions of dollars in Uruguay’s real estate sector.

Argentina has been the subject of the economic crisis in the past too but the recent political rift between the President and the Vice President has been making things worse for the nation. The upcoming election in 2023 is indicating a win for the opposition Juntos Por el Cambio coalition which is leading by a comfortable margin in the polls. Argentina is now expected to develop business-friendly policies to halt the outflow of securities from their country or else Uruguay is all set to enjoy the labor of Argentine businessmen.

Tags: Argentine businessmenChinaJuntos Por el CambioShort takes
ShareTweetSend
Vishwas Makkar

Vishwas Makkar

Columnist at TFI Media, Political Enthusiast.

Also Read

Is MAGA angry with Trump over Epstein files? (Picture Credit: AXIOS)

Is MAGA angry with Trump over Epstein files?

July 12, 2025
Elon Musk’s “SpaceX” Bargaining Chip Against Trump (Picture Credits: The Economist)

Trump and Musk Can’t Succeed Without Each Other!

July 11, 2025
Netanyahu to visit NEW YORK to Challenge Mamdani arrest threat?

Netanyahu to visit NEW YORK to Challenge Mamdani arrest threat?

July 11, 2025
Trump vs Musk (Picture Credit: Yahoo)

⁠ Trump Blasts Musk’s America Party as ‘Ridiculous’ and ‘Off the Rails’

July 7, 2025
"It's All Fake": Trump’s Trade War a ‘Theatrical Show,’ White House insider Claims in Bombshell Report

“It’s All Fake”: Trump’s Trade War a ‘Theatrical Show,’ White House insider Claims in Bombshell Report

July 7, 2025
Can Musk’s America Party Challenge Century Old Two-Party System?

Can Musk’s ‘America Party’ Challenge Century Old Two-Party System?

July 7, 2025
Youtube Twitter Facebook
TFIGlobalTFIGlobal
Right Arm. Round the World. FAST.
  • About Us
  • Contact Us
  • TFIPOST – English
  • TFIPOST हिन्दी
  • Careers
  • Brand Partnerships
  • Terms of use
  • Privacy Policy

©2025 - TFI MEDIA PRIVATE LIMITED

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
TFIPOST English
TFIPOST हिन्दी

©2025 - TFI MEDIA PRIVATE LIMITED

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. View our Privacy and Cookie Policy.