¡Buenos días from Louse Point! This is the Rorshok Argentina Update from the 3rd of July twenty twenty-five. A quick summary of what's going down in Argentina.

A blast of polar air swept across Argentina over the weekend, plunging temperatures and even bringing snow to places that rarely see it. Southern Buenos Aires, La Pampa in the central region, Mendoza in the West, and Trelew in the South all saw snowfall this week, some of them for the first time in twelve years. In parts of southern Patagonia, temperatures dropped well below freezing, reaching as low as -16°C or 3°F.

The National Weather Service says this cold snap poses a real health risk, especially for vulnerable groups like kids, the elderly, and people with chronic conditions. As the cold grips the country, several northern provinces, including Tucumán and Salta, have canceled classes to protect students and staff. Experts say Argentina’s closeness to Antarctica makes it prone to these cold snaps, especially when polar winds break loose and drift north.

All things considered, this may not be the best time to visit Argentina, but if you do, keep in mind that starting the 1st of July, anyone entering the country, except citizens or permanent residents, will need to show proof of health insurance before boarding their flight. Hospitals will also start asking non-residents for proof of insurance before offering care.

This new requirement is part of a broader migration overhaul aimed at tightening border controls and limiting access to public services for non-residents. Border officials may deny entry to travelers without valid coverage, and authorities can now turn away or deport those who rely on repeated tourist visa renewals or overstay their visits.

The reform also tightens the requirements for citizenship and permanent residency, including a two-year in-country stay requirement, financial self-sufficiency, and a clean criminal record. A new option also allows people to gain citizenship through investment. Officials say the changes respond to growing pressure on public resources and fears that deportees from other countries could head to Argentina.

In other news, two provinces held local elections this weekend, and in both cases, the ruling parties held on to power. In the central-eastern province of Santa Fe, Governor Maximiliano Pullaro’s party—a coalition aligned with the broader center-right Juntos por el Cambio—dominated most of the province.

Meanwhile, longtime Peronist strongman Gildo Insfrán secured yet another decisive victory in Formosa. President Milei’s party made some gains in Santa Fe, finishing second in Rosario, but largely failed to shake up the status quo, particularly in Formosa, where it placed third.

The president was more concerned about launching his campaign in Buenos Aires Province. On Thursday the 26th, he gave a combative speech in the province’s capital, La Plata, slamming Governor Axel Kicillof and calling the province a product of decades of failed Peronist rule. He framed the upcoming September and October elections as a choice between freedom and servitude, and pitched his party as the only real path to change.

On that note, the Buenos Aires Province Senate just passed a controversial bill that would allow local lawmakers to be reelected indefinitely. The measure, led by Luis Vivona, a Kirchnerist senator, split opinions across party lines and only passed after Vice Governor Verónica Magario cast the tie-breaking vote. If the lower house approves it, council members, provincial deputies, and public school board officials elected by popular vote could seek unlimited terms, though mayors would still face a two-term cap.

Next, another new bill: The Milei administration has introduced one that would dramatically raise the bar for what counts as tax evasion in Argentina, shifting the threshold from 1.5 million pesos (about 1,300 dollars) to 100 million pesos (85,000 dollars). The government’s goal is to encourage people to spend their undeclared US dollars and help boost the local economy. The plan would also shorten the statute of limitations for tax crimes and limit the tax agency’s ability to take people to court.

Speaking of undeclared dollars, new data shows some of that money is now circulating. According to INDEC, Argentina’s official statistics agency, cash and assets held outside the financial system dropped by over 3 billion dollars in the first quarter of twenty twenty-five, bringing the total down to 270 billion dollars. That continues a recent trend as economic optimism grows and fiscal controls loosen. While the drop is notable, the overall amount is still massive—about double what it was back in twenty sixteen.

Meanwhile, the International Monetary Fund or IMF just finished a four-day visit to Buenos Aires to review Argentina’s progress on a twenty billion dollar deal signed in April. While no official results came out, the IMF team focused on Argentina missing a four billion dollar reserve target. Still, experts expect a waiver, as officials highlighted alternative ways they’ve been boosting reserves without disrupting the exchange market.

In other moves to boost market confidence, the Central Bank just removed the six-month waiting period, in which foreign investors had to keep their money in local assets before pulling it out. While some see this as a step to attract more foreign funds, others warn it could invite volatile hot money flows, recalling the twenty eighteen episode when sudden capital exits forced the Central Bank to spend over a billion dollars defending the peso.

Just as Argentina is opening its financial markets to attract more foreign investment, it’s also strengthening ties with France to boost another key area: critical minerals. The two countries recently signed an agreement to deepen cooperation and investment in Argentina’s lithium sector. This deal aims to accelerate mining projects and position Argentina as a major player in the global energy transition.

Turning to transportation, July brought another hike in public transit fares. Bus tickets in Buenos Aires City and Province rose by 3.5%, now costing between 490 and 630 pesos (about forty to fifty US cents), depending on the distance traveled. This increase paves the way for a further 6% fare bump on the 16th of July for national bus lines serving Greater Buenos Aires. Meanwhile, subway fares in the capital are climbing to nearly 1,000 pesos (around eighty US cents) for those taking one to twenty rides a month, with a sliding scale that offers discounts for more frequent riders.

On a more positive note, a regional safety ranking by the website ArgentinaExpat rated Argentina as the third safest country in Latin America for expats in twenty twenty-five. The report evaluated twenty-three countries on factors like homicide, kidnapping, and road safety, using data from major global organizations. Only Chile and Uruguay ranked higher, with Haiti at the other end of the list. Argentina’s low murder rate and strong road safety contributed to its high placement, though theft remains a concern, especially in cities.

And speaking of things Argentina can be proud of—Ca7riel and Paco Amoroso just took Glastonbury by storm. If you haven’t heard of them yet, they’re one of Argentina’s most popular musical duos currently, blending trap, funk, and rock into a loud, bold style. They played not once, but twice in one day at the UK’s biggest music festival. Coming off a sold-out show in London and getting ready to open for Kendrick Lamar on his Latin American tour, the duo is clearly having a moment.

On that note about London, Argentina just got a big win at Wimbledon thanks to twenty-one-year-old Solana Sierra. The tennis player took down Australia’s Olivia Gadecki in straight sets, becoming the first Argentine woman to win a Grand Slam singles match in over a year. Originally from Mar del Plata, Sierra’s been turning heads since she was a kid, dominating junior circuits.

On the men’s side, it was a rough start—Cerúndolo, Báez, Etcheverry, and a few others all crashed out early—but Mariano Navone pulled off a solid win to keep Argentine hopes alive.

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

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