¡Buenos días from Greenway Parks! This is the Rorshok Argentina Update from the 12th of March twenty twenty-six. A quick summary of what's going down in Argentina.

It was Argentina Week this week which means President Milei spent some time in New York for a high-level roadshow designed to pull in international investment. He met with major financial figures like Jamie Dimon, the head of JPMorgan Chase, to pitch Argentina’s economic comeback. Milei also took the stage at an investors’ forum where he didn’t hold back, railing against business leaders he calls “crony businessmen” for profiting from political privileges. He specifically singled out the owners of the tire company Fate.

During the same trip, Milei sat down with US President Donald Trump in Miami to launch the Shield of the Americas, a new military initiative aimed at fighting drug cartels and limiting Chinese influence in the region. Milei fully committed Argentina to this alliance, even declaring Iran an enemy of the country due to historical terror attacks in Buenos Aires. This marks a total shift from Argentina’s traditional neutral stance, as Milei now positions the nation as the United States’ and Israel’s closest ally in Latin America.

Speaking of the President’s combative style during global turmoil, journalist Agustino Fontevecchia recently shared a sharp essay titled Argentina: the safest country in the world. Writing for the Buenos Aires Times, Fontevecchia argues that Milei is essentially ignoring the burning Middle East to focus on his own political survival at home. He explains the President’s recent aggressive speeches aren’t just rants, but calculated moves to keep the spotlight on himself while the rest of the world deals with war.

You can check out the full piece with the link in the show notes.

While the President looks abroad, local data shows a slight breather for the wallets. Inflation in the City of Buenos Aires slowed down to 2.6% in February, a drop from over 3% in January. Even though prices for housing and meat continue to climb, the overall trend is heading in a direction the government likes to see. However, the first two months of the year still saw a total price hike of nearly 6%, so the cost of living remains a top concern.

Unfortunately, the cooling inflation has not saved the industrial sector, which is facing its hardest moment in years. A recent report from the consultancy firm Audemus, based on United Nations data, shows Argentina has the second-worst industrial decline in the world, with production falling nearly 8% since twenty twenty-three. Milei acknowledged this struggle in a recent interview, bluntly stating that some economic sectors that can’t compete with imports will simply disappear.

In the midst of these heavy economic talks, Manuel Adorni, the President’s Chief of Staff, found himself in hot water. Critics are questioning why Adorni brought his wife along on the official government trip to New York. Adorni defended the move, saying he wanted his life partner by his side while he worked long hours and insisted the trip didn’t cost the state a single peso.

As we look toward the end of the month, human rights groups are preparing for a massive march on the 24th of March to the Plaza de Mayo in Buenos Aires, which marks the 50th anniversary of the start of the ninety seventy-six military coup. Organizers are asking everyone to wear A4-sized photos of the disappeared around their necks to keep the memory of the victims alive. This year’s event carries extra weight as the current government continues to challenge the traditional narrative surrounding that dark era of Argentine history.

While you’re marking your calendar for the 24th of March, remember that there are two very short weeks ahead of us. Monday the 23rd of March is a non-working bridge day, followed by the National Day of Memory on Tuesday the 24th, which is a full public holiday. Just a few days later, the country will pause again for Easter. Thursday the 2nd of April is a non-working day, while Friday the 3rd is an official holiday.

To explain the difference between the two: On a full holiday, shops and banks are closed and employees are entitled to a day off or double pay. On a non-working day, the employer gets to decide if you work or not, and banks and schools are usually closed, but you don’t get extra pay if you do head into the office.

Earlier this week, the city also saw massive rallies for International Women’s Day on the 9th of March. Thousands of women marched against gender-based violence and the recent cuts to state funding for women’s programs. The United Nations recently warned the government that dissolving the Ministry of Women and cutting budgets for emergency hotlines puts many people at risk.

On the health front, the government is rolling out the national flu vaccine campaign three weeks earlier than last year. Health officials moved the date up because respiratory viruses are starting to spread sooner, including a new, more contagious variant of the flu. If you are over sixty-five, pregnant, or have a chronic health condition, you can get your free shot at public hospitals and health centers starting this week.

Since we’re talking about protection, let’s talk about your car. Global oil prices just shot past 100 dollars a barrel due to the conflict in the Middle East. While this usually means a big jump at the pump, the state oil company YPF says it won’t shock consumers with sudden price hikes. They are using a micropricing strategy to smooth out the spikes, so you shouldn’t see massive daily changes in fuel costs.

While fuel stays stable, the same cannot be said for local shops specifically in the City of Buenos Aires. Nearly 40% more storefronts are sitting empty in the capital compared to last year. A new report by the Chamber of Commerce and Services shows that more than 280 shops are currently up for sale or rent along the city’s main avenues. The number of empty shops jumped significantly just in the first two months of this year as high rents and lower sales take their toll.

In Congress, the debate over the Glacier Law is moving slower than expected. Opposition lawmakers managed to delay a vote on Milei’s plan to deregulate mining and oil drilling in frozen areas. They’ve pushed the discussion to April to allow for more public hearings, where environmental experts and local governors will argue over how to balance investment with protecting the country's water reserves.

Beyond the borders, Argentina just granted political asylum to Joel Borges Correa, a Brazilian man involved in the twenty twenty-three riots in Brasília. Correa was facing over thirteen years in prison in his home country, but Argentine officials decided he was being persecuted for his political opinions. The Brazilian government isn’t happy about the move, calling it an attempt to interfere in their upcoming elections.

On that note, the current political climate doesn’t seem to be rubbing off on the next generation. A new study from the University of Buenos Aires reveals that seven out of ten young adults in Argentina have little to no interest in politics. While teenagers still value living in a democracy, most say they rarely talk about political issues with their friends or family. Researchers say this indifference is growing, especially among those who feel disconnected from the country's current direction.

Finally, we need to talk about the wave of criticism Lionel Messi is facing after visiting the White House this week. The football superstar joined his Inter Miami teammates as Donald Trump honored them for winning the MLS Cup. While the visit is a tradition for championship winners, many Argentine fans and journalists slammed the star for appearing alongside Trump while the US is involved in international conflicts. Critics pointed out that Messi, who usually stays away from politics, appeared to be lending his global influence to the US administration’s agenda.

Aaand that’s it for this week! Thank you for joining us!

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¡Nos vemos la próxima semana!