Latest news with #Bolivian
Miami Herald
4 days ago
- Business
- Miami Herald
Milei eyes legislative win to push second wave of reforms
June 17 (UPI) -- Argentine President Javier Milei plans to introduce a new package of state and economic reforms to Congress after the country's legislative elections in October. Milei hopes the vote will strengthen his party, La Libertad Avanza, which holds limited representation in Congress. He aims to win control of the Senate with allies, unseat the Peronist-Kirchnerist bloc and push his reform agenda through quickly. Recent polls show Milei's party leading voter preferences by a wide margin, polling between 37% and 43%. The left-leaning coalition Unión por la Patria trails with support between 30% and 33%, while other parties lag far behind. If Milei wins big in October, he plans to launch a broader reform program targeting Argentina's government, judiciary and public security system. On fiscal policy, Milei says he wants to cut consolidated public spending to no more than 25% of GDP by 2027. "The national government, provinces and municipalities will all have to do their part," he said. The administration plans to eliminate 90% of national taxes, keeping only six, in a bid to dismantle Argentina's complex tax system and shrink the state bureaucracy. Milei has pledged to give Argentines "greater economic freedom," including lifting price controls and opening up foreign trade. On security, the government wants to lower the age of criminal responsibility, raise penalties under the penal code and pass a national security law. The measure would expand powers for the state, intelligence services and law enforcement to combat crime. The proposed justice reform seeks to address the country's public safety crisis by curbing what the government sees as excessive political influence over the judiciary. Milei has said he will nominate candidates this year to fill all vacancies in the federal justice system. That includes top judgeships, federal courts, prosecutors and public defenders -- positions that account for about 40% of Argentina's federal bench. On the economic front, the government plans to end controls on foreign currency transactions, expand deregulation, downsize overlapping agencies and speed up privatizations. Officials have not ruled out including Aerolíneas Argentinas. On immigration, Milei wants to tighten citizenship rules, restrict free access to public healthcare -- particularly along the Bolivian border -- and limit enrollment of foreign students in national universities. He also aims to authorize expedited deportation procedures. In labor policy, the government aims to curb union power. The plan would require 75% of normal operations to continue during strikes in essential services such as healthcare, education, security and telecommunications. For sectors deemed critically important -- including food production, banking, exports and construction -- a minimum service level of 50% would be required. Milei's first reform package included deep fiscal austerity, cutting public investment, halting money printing by the Central Bank, closing state agencies and laying off about 43,000 public employees. The government also launched privatization efforts for eight state-owned companies. The measures triggered a drop in consumption and wages, affecting employment and private sector output. Still, the administration points to falling inflation -- down to 1.5% in May -- along with rising imports and exports, climbing stock values for Argentine companies and a new agreement with the International Monetary Fund as key achievements. Copyright 2025 UPI News Corporation. All Rights Reserved.
UPI
4 days ago
- Politics
- UPI
Milei eyes legislative win to push second wave of reforms
Argentine President Javier Milei, pictured here at the United Nations Headquarters in 2024, plans to introduce a new package of state and economic reforms to Congress. File Photo by John Angelillo/UPI | License Photo June 17 (UPI) -- Argentine President Javier Milei plans to introduce a new package of state and economic reforms to Congress after the country's legislative elections in October. Milei hopes the vote will strengthen his party, La Libertad Avanza, which holds limited representation in Congress. He aims to win control of the Senate with allies, unseat the Peronist-Kirchnerist bloc and push his reform agenda through quickly. Recent polls show Milei's party leading voter preferences by a wide margin, polling between 37% and 43%. The left-leaning coalition Unión por la Patria trails with support between 30% and 33%, while other parties lag far behind. If Milei wins big in October, he plans to launch a broader reform program targeting Argentina's government, judiciary and public security system. On fiscal policy, Milei says he wants to cut consolidated public spending to no more than 25% of GDP by 2027. "The national government, provinces and municipalities will all have to do their part," he said. The administration plans to eliminate 90% of national taxes, keeping only six, in a bid to dismantle Argentina's complex tax system and shrink the state bureaucracy. Milei has pledged to give Argentines "greater economic freedom," including lifting price controls and opening up foreign trade. On security, the government wants to lower the age of criminal responsibility, raise penalties under the penal code and pass a national security law. The measure would expand powers for the state, intelligence services and law enforcement to combat crime. The proposed justice reform seeks to address the country's public safety crisis by curbing what the government sees as excessive political influence over the judiciary. Milei has said he will nominate candidates this year to fill all vacancies in the federal justice system. That includes top judgeships, federal courts, prosecutors and public defenders -- positions that account for about 40% of Argentina's federal bench. On the economic front, the government plans to end controls on foreign currency transactions, expand deregulation, downsize overlapping agencies and speed up privatizations. Officials have not ruled out including Aerolíneas Argentinas. On immigration, Milei wants to tighten citizenship rules, restrict free access to public healthcare -- particularly along the Bolivian border -- and limit enrollment of foreign students in national universities. He also aims to authorize expedited deportation procedures. In labor policy, the government aims to curb union power. The plan would require 75% of normal operations to continue during strikes in essential services such as healthcare, education, security and telecommunications. For sectors deemed critically important -- including food production, banking, exports and construction -- a minimum service level of 50% would be required. Milei's first reform package included deep fiscal austerity, cutting public investment, halting money printing by the Central Bank, closing state agencies and laying off about 43,000 public employees. The government also launched privatization efforts for eight state-owned companies. The measures triggered a drop in consumption and wages, affecting employment and private sector output. Still, the administration points to falling inflation -- down to 1.5% in May -- along with rising imports and exports, climbing stock values for Argentine companies and a new agreement with the International Monetary Fund as key achievements.
Cision Canada
5 days ago
- Business
- Cision Canada
Santacruz Silver Announces Appointment of Andrés Bedregal as Chief Financial Officer
VANCOUVER, BC, June 16, 2025 /CNW/ - Santacruz Silver Mining Ltd. (TSXV: SCZ) (OTCQB: SCZMF) (FSE: 1SZ) ("Santacruz" or "the Company") is pleased to announce that Mr. Andrés Bedregal, who has served as the Company's interim Chief Financial Officer since October 15, 2024, has been appointed Chief Financial Officer effective immediately. Arturo Préstamo, Executive Chairman and CEO of Santacruz, commented: "We want to congratulate Andrés on his well-deserved appointment as Santacruz's CFO. During his tenure as interim CFO, he has demonstrated exceptional leadership and a deep understanding of the Company's financial operations, helping us navigate through important milestones. Andrés has been instrumental in strengthening Santacruz's balance sheet through disciplined financial management, which has greatly improved the Company's financial health and ability to grow. He played a big role in securing better terms for our Bolivian asset acquisition through the Accelerated Option Plan, which will lead us to debt-free path by year-end. There is no one better suited for this position. Andrés has proven himself as an invaluable member of the team, and we're confident his dedication and expertise will continue to drive Santacruz forward." Mr. Bedregal is also the current CFO for Sinchi Wayra S.A., a wholly-owned subsidiary of Santacruz Silver Mining, Ltd., a position he has held since joining Sinchi Wayra S.A. in 2022. As CFO of Sinchi Wayra, Mr. Bedregal has successfully led the Bolivian finance group's upgrade of the financial and management reporting systems, as well as contributed to strategic business decisions, over the past three years. Mr. Bedregal has extensive expertise in financial planning, investment analysis, and leveraging data-driven tools to enhance decision-making processes. His skills include M&A, risk assessment, and the execution of complex financial strategies. Mr. Bedregal holds a Bachelor of Arts in Economics and Political Science from the University of Kansas, Lawrence, Kansas, USA. Additionally, Mr. Bedregal earned a Master's Degree in Finance (MDF) from the Universidad Católica Boliviana and an MBA from the Universidad Privada Boliviana in La Paz, Bolivia. He is also a Level III Candidate in the CFA Program from the CFA Institute. As CFO of Santacruz, Mr. Bedregal will continue to strengthen the Company's financial discipline, optimize capital allocation, and drive initiatives that support Santacruz's continued growth. About Santacruz Silver Mining Ltd. Santacruz Silver is engaged in the operation, acquisition, exploration, and development of mineral properties across Latin America. In Bolivia, the Company operates the Bolivar, Porco, and Caballo Blanco mining complexes, with Caballo Blanco comprising the Tres Amigos and Colquechaquita mines. The Reserva mine, whose production is provided to the San Lucas ore sourcing and trading business, is also located in Bolivia. Additionally, the Company oversees the Soracaya exploration project. In Mexico, Santacruz operates the Zimapán mine. 'signed' Arturo Préstamo Elizondo, Executive Chairman and Chief Executive Officer Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE Santacruz Silver Mining Ltd.
Los Angeles Times
6 days ago
- Politics
- Los Angeles Times
Bolivia's Andean festival clouded by economic, political crises this year
LA PAZ, Bolivia — Bolivia's largest Andean religious festival has long inspired joyous revelry and offered a chance for the nation to forget about its perpetual political turmoil and escape into the world of its rich folklore. But this year, Bolivians say the festival of the Gran Poder, or Great Power — the beloved carnival dedicated to a 17th century painting of Jesus Christ — reflects more than distracts from the country's spiraling economic and political crises. The typically exuberant crowd fell silent for a few moments Saturday before the folk dance performance kicked off in the major city of La Paz, paying respects to the victims of clashes between protesters and police days earlier that left two civilians and four police officers dead. One of the civilians, identified by protesters as a young student beaten by police, had been hospitalized and succumbed to his injuries Saturday, just before the festival. After Bolivia's electoral tribunal disqualified former President Evo Morales, a leftist political titan who still wields influence in the country's tropical heartland, from running in the August presidential election, his loyalists took to the streets this month to vent their outrage. Many of them have reported being bruised and beaten by officers in recent days in protests both peaceful and violent. The government sent military tanks to the streets of Llallagua, in central Bolivia. La Paz municipal authorities proposed postponing the festival, citing the 'pain of the Bolivian people.' But organizers refused, pointing to the $68 million that was expected to be generated Saturday — a shot of stimulus into a sputtering economy witnessing its worst crisis in 40 years. The annual festival, which takes place about eight weeks after Easter, was recognized by the UNESCO World Heritage Committee for displaying the nation's unique mix of Roman Catholic beliefs and Indigenous heritage. The ceremony pays tribute to what is believed to be a miraculous rendering of Jesus Christ — El Señor del Gran Poder, or the Lord of the Great Power — that shows the Christian savior with Indigenous Andean features and outstretched arms. Dancing in the festival is a holy act of spiritual devotion as dancers pray for personal forgiveness and salvation. This year, however, many turned their prayers on a more immediate target. 'Devotees are asking for economic recovery, as well as for peace and unity among Bolivians in this time,' said a priest leading the ceremony, Father Saul Mamani. Economic strain was visible at Saturday's giant party: Participants pared down their usually elaborate costumes and masks, and dancers traded their traditional gold jewelry for Chinese-made knockoffs. 'The price of my costume went up by 60%,' said dancer Jorge Rodríguez, 37. 'Many haven't been able to dance. Almost half of my group didn't come.' Organizers could afford to hire only about 70,000 dancers — some 20,000 fewer than last year — and scrapped their usual plans to invite regionally renowned musicians. Every year, one of La Paz's wealthy merchants, known as qamiris, gets the expensive honor of paying more than anyone else for Gran Poder. This year, the unlucky merchant, Edgar Apaza, said he had been saving all year and his budget was still tighter than ever before. 'The crisis is affecting everyone,' Apaza said. Inflation in Bolivia over the first five months of 2025 hit 9.81%, the highest rate in more than a decade, according to official figures, fueling public protests over President Luis Arce's handling of the economy and leaving many Bolivians struggling to buy even the basics. Plácida Quispe, 73, an embroiderer at the festival Saturday, said there wasn't enough demand to sell her colorful costumes this year. She said she would rent her handiwork to participants instead. 'There is no business,' she said. 'People want to celebrate, but they cannot afford to pay the price.' Flores writes for the Associated Press.
7 days ago
- Politics
As Bolivia celebrates its main Andean festival, it feels the pain of mounting crises
LA PAZ, Bolivia -- Bolivia's largest Andean religious festival has long inspired joyous revelry and offered a chance for the nation to forget about its perpetual political turmoil and escape into the world of its rich folklore. But this year on Saturday, Bolivians say the day of the Great Power, the beloved carnival dedicated to a 17th-century painting of Jesus Christ, reflects more than distracts from the country's spiraling economic and political crises. The typically exuberant crowd fell silent for a few moments on Saturday before the folk dance performance kicked off in the major city of La Paz, paying their respects to the victims of fierce clashes between protesters and police last Thursday that left six people dead, among them four police officers and two civilians. The second civilian, identified by protesters as a young student beaten by police, had been hospitalized and succumbed to his wounds on Saturday, just before the festival. After Bolivia's electoral tribunal disqualified former President Evo Morales, a leftist political titan who still wields influence in the country's tropical heartland, from running in Bolivia's August presidential election, his loyalists took to the streets to vent their outrage earlier this month. Many of them, both peaceful and violent, have reported being bruised and beaten by officers in recent days. The government sent military tanks to the streets of Llallagua, in central Bolivia. La Paz municipal authorities proposed postponing the festival, citing the 'pain of the Bolivian people." But organizers refused, pointing to the $68 million that was expected to be generated Saturday – a shot of stimulus into a sputtering economy now witnessing its worst crisis in 40 years. The annual festival, which takes place some eight weeks after Easter, was recognized by the UNESCO World Heritage Committee for displaying the nation's unique mix of Roman Catholic belief and Indigenous heritage. The ceremony pays tribute to what is believed to be a miraculous rendering of Jesus Christ — El Señor del Gran Poder, or The Lord of the Great Power — that shows the Christian savior with Indigenous Andean features and outstretched arms. Dancing in the festival is a holy act of spiritual devotion as dancers pray for personal forgiveness and salvation. This year, however, many turned their prayers on a more immediate target. "Devotees are asking for economic recovery, as well as for peace and unity among Bolivians in this time,' said a priest leading the ceremony, Father Saul Mamani. Economic strain was visible at Saturday's giant party as participants pared down their usually elaborate costumes and masks and dancers traded their traditional gold jewelry for Chinese-made knock-offs. 'The price of my costume went up by 60%," said dancer Jorge Rodríguez, 37. 'Many haven't been able to dance, almost half of my group didn't come." Organizers could only afford to hire some 70,000 dancers — some 20,000 fewer than last year — and scrapped their usual plans to invite regionally renowned musicians. Every year, one of La Paz's wealthy merchants, or 'qamiris," gets the expensive honor of paying more than anyone else for Gran Poder. This year, the unlucky merchant, Edgar Apaza, said he had been saving all year and his budget was still tighter than ever before. 'The crisis is affecting everyone,' Apaza said. Inflation in Bolivia over the first five months of 2025 hit 9.81%, the highest rate in more than a decade, according to official figures, fueling public protests over President Luis Arce's handling of the economy and leaving many Bolivians struggling to buy even the basics. Plácida Quispe, 73, an embroiderer at the festival Saturday, said there wasn't enough demand to sell her colorful costumes this year. She said she would rent her handiwork to participants instead. 'There is no business,' she said. 'People want to celebrate, but they cannot afford to pay the price.'
