Center-left candidate wins elections in Uruguay

Yamandu Orsi, a center-left candidate, won the Uruguayan presidential elections with 49.81% of the votes against conservative Alvaro Delgado's 45.90%. Orsi's victory was celebrated by the Organization of American States and other Latin American countries. He promised to focus on attracting investors and improving worker skills without increasing taxes. The election marked the end of a year of global elections, with Uruguay remaining relatively free of political tensions. The Frente Ampla, Orsi's party, secured 16 of 30 Senate seats, positioning him well to lead the next government.

As Putin’s war continues, thousands of Russian emigres settle in Latin America

President Vladimir Putin's recent election victory in Russia underscores his stronghold on power amid the ongoing war in Ukraine. Meanwhile, a significant number of Russians are emigrating to Latin America, attracted by lenient visa rules, affordable living, and easier paths to citizenship. Countries like Argentina, Mexico, Brazil, Uruguay, and Paraguay have seen a notable increase in Russian residency visas. Emigres are establishing businesses and integrating into local communities, despite challenges such as adapting to new cultures and dealing with financial transactions. The migration trend is driven by factors including political repression, economic impacts of the war, and changes to Russia's conscription system.

Russian exiles bring banyas and blinis to Buenos Aires

Russian emigrants, such as Ilia Gafarov and Nadia Gafarova from Vladivostok, are establishing roots in Buenos Aires, Argentina, by opening a traditional Russian sauna, or 'banya', and cooking Russian dishes like blini. This is part of a larger trend of Russian migration to Latin America, with Argentina, Mexico, Brazil, Uruguay, and Paraguay granting residency to almost 9,000 Russians in the past year, a significant increase from 2020. The region's lenient visa policies, affordable lifestyles, and neutral stance on international sanctions are attracting Russians seeking to escape the war's impact. Latin America is seeing a cultural shift with Russian cafes, beauty salons, and community groups emerging, while locals adapt by learning Russian phrases. Some Russians are also turning to cryptocurrencies and Chinese bank cards to circumvent banking issues. The trend includes entrepreneurs and families, partly due to changes in Russia's conscription system and political repression.

Russian exiles bring banyas and blinis to Buenos Aires

Russian exiles, including Ilia Gafarov and Nadia Gafarova, are establishing businesses like traditional Russian saunas and cooking traditional dishes in Buenos Aires, reflecting a broader trend of Russian migration to Latin America since the 2022 invasion of Ukraine. The influx is driven by lenient visa rules, easier paths to citizenship, and a favorable lifestyle. Argentina, Mexico, Brazil, Uruguay, and Paraguay have seen significant increases in residency visas for Russians. The migration is gradually changing the cultural landscape of cities, with Russian-run businesses and community activities becoming more common.

New lives: Russian war exiles bring banyas and blinis to Buenos Aires

Ilia Gafarov and Nadia Gafarova, a couple from Vladivostok, Russia, have moved to Buenos Aires, Argentina, and are opening a traditional Russian sauna, or 'banya', as part of a growing Russian migration to Latin America following the 2022 invasion of Ukraine. Argentina, Mexico, Brazil, Uruguay, and Paraguay have seen a significant increase in Russian residency visas, with Argentina issuing 3,750 in 2023. Latin America's lenient visa rules, affordable lifestyles, and neutral stance on the conflict are attracting Russians. The influx is influencing local culture, with Russian cafes and salons emerging, and Russian Orthodox church groups seeking a permanent priest. Some Russians have chosen Latin America to avoid conscription and political repression, while others invest to preserve their wealth amid economic instability.

Argentina takes unwelcome Latin America inflation crown from Venezuela

Argentina surpassed Venezuela as the Latin American country with the highest inflation rate in 2023, reaching over 200% for the year, the highest in 30 years. Venezuela, which had previously experienced hyperinflation, saw a significant decrease in inflation rates due to government measures. Argentina's new President Javier Milei is implementing major reforms and austerity measures with IMF support to control inflation, while analysts remain cautious about the challenges ahead.

Argentina takes unwelcome Latin America inflation crown from Venezuela

Argentina surpassed Venezuela as the Latin American country with the highest inflation rate in 2023, reaching over 200% annually, the highest in 30 years. Venezuela's inflation was lower at an estimated 193%. Argentina's CPI increases have been driven by fiscal deficits, distrust in the peso, and central bank policies. President Javier Milei is implementing reforms and austerity measures to control inflation, with IMF support. Venezuela has reduced inflation through currency controls, import relaxation, and informal dollarization. Analysts believe Argentina's inflation convergence with Venezuela may be temporary if Milei's reforms succeed.

Argentina takes unwelcome Latin America inflation crown from Venezuela

Argentina surpassed Venezuela as the Latin American country with the highest inflation rate in 2023, recording a 211.4% annual inflation with December prices rising by 25.5%. Venezuela's inflation was lower at an estimated 193% last year. Argentina's inflation has been driven by fiscal deficits, distrust in the peso, and central bank policies. President Javier Milei is implementing reforms and austerity measures, with IMF support, to control inflation. Venezuela has reduced inflation through economic policy adjustments, but lacks a solid fiscal strategy. Analysts believe Argentina's inflation convergence with Venezuela could be temporary if Milei's reforms succeed.

Argentina takes unwelcome Latin America inflation crown from Venezuela

Argentina surpassed Venezuela as the Latin American country with the highest inflation rate in 2023, reaching over 200% annually, the highest in 30 years. Venezuela's inflation was lower at an estimated 193%. Argentina's inflation has been driven by fiscal deficits, distrust in the peso, and central bank policies. President Javier Milei is implementing reforms and austerity measures with IMF support to control inflation. Venezuela has reduced inflation through currency controls, import relaxation, and informal dollarization. Economic adviser Peter West believes Argentina's inflation convergence with Venezuela may be temporary if Milei's reforms succeed.

Argentina takes unwelcome Latin America inflation crown from Venezuela

Argentina surpassed Venezuela as the Latin American country with the highest inflation rate in 2023, reaching over 200% annually, the highest in 30 years. Venezuela's inflation was lower at an estimated 193%. Argentina's CPI increases have been driven by fiscal deficits, distrust in the peso, and central bank policies. President Javier Milei is implementing reforms and austerity measures to control inflation, with IMF support. Analysts believe Argentina's inflation convergence with Venezuela may be temporary if Milei's reforms succeed.