Argentina Politics and Pesos
[QUOTE=c-m;639426]In 2015/16 I did some 16,000km around South America over 6 months. My initial planning started right here on HUBB
When I was in Argentina the Peso wasn't free floating so currency was exchanged on street corners at the blue dollar or pound rate (think it was something like 20). Half way through, Argentina had a new president and the currency was allowed to float freely. ..............
Good Questions, I can respond to Politics and Pesos.
Elisa and I are permanent foreign residents of Argentina, first arriving during a sabbatical year in 2004 and in 2006 decided to retire in Argentina. We currently live about 350 K south of Buenos Aires in the beach town of Pinamar.
We have established a motorcycle parking business in Buenos Aires.
We have motorcycled Argentina and 7 other South American countries.
The current political scene began in October 2023 when Javier Milei, a university educated economist calling himself an anarcho-capitalist , was elected President of Argentina with 54% of the vote. Now, don't get excited this does not mean he is a "narco - capitalist" think anarchy instead. In plain terms, Milei is the first Libertarian Party President to be elected in Argentina and I think in all of South America. He is systematically defunding about half of the government's ministries, trying to honor debt payments to the IMF (Argentina was headed for another IMF default) and limiting Argentine government trade with China, but in no way is he inhibiting civilian business trade with China. He is systematically devaluating the Peso AR officially so the official rate is now much closer to the "Blue rate. President Milei has suggested
a path to "dollarize" the Argentine economy in years to come.
He defeated the Peronistas who have more or less been in Power since Peron in the forties. Milei has a sister who is his "right hand man" who many say really calls the shots. He lives with a very hot model/actress girlfriend.
The relationship between the official rate (today 10jan23 is approx 814 Pesos AR to One USD) and the blue Rate (today 10jan23 is approx 1,100 Pesos AR to One USD). Tourists can sell USDs to Western Union Offices or on the street for an amount somewhere between the official rate and the blue rate.
Prices are up almost daily. Government subsidies, electric, water etc
are being diminished or dropped, public transportation cost has risen slightly, and there is much talk about privatizing IPF gas, and outsourcing some government agencies to private industry. Some agricultural export taxes are being dropped and in general business is finally being given a free hand. Rent restrictions and thousands of government restrictions are being dropped. The government agency fiefdoms created by corruption and nepotism are being dismantled.
President Milei has turned internal security over to his right wing opponent Ms Bullrich, she is a long time politician with a large following. A big protest is being organized by labor party and Peronistas and planned for the 24th January and I advise to stay clear of the city on that day. There has already been a large but mostly peaceful protest.
Tourism in Pinamar, one of Argentina's spring/summer break hot spots is less than last year, but the beaches are still packed. Life is good on the east coast of Argentina under our "Wing." see photo of Veronica and Elisa.
Generally speaking if you have USD buying food locally, eating out, lodging, and essentials are about half what it costs in the USA. We pay very little for excellent expat health insurance, and medical care is much better than it was in the USA. Tourism in Argentina is mostly from Brazil, other South American countries, Europe and of course there are a few North Americans - we have not met any in Pinamar. For this we are grateful, no offense.
We love our home and our Hondas and our Argentine friends.
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