World
Argentina’s poverty level rises to 57.4%, marking 20-year high
Argentina’s poverty level rose to 57.4% last month, reaching the highest percentage in at least 20 years, according to a report by the Catholic University of Argentina.
A local media company wrote about the report, according to Reuters, which said newly elected President Javier Milei’s devaluation of the peso, executed shortly after his inauguration in December, caused poverty levels to worsen.
In fact, the poverty level at the end of the year was 49.5%.
The devaluation of the peso also caused prices of nearly everything to rise.
IN ARGENTINA, SOUP KITCHEN SEES RISE IN HUNGRY FAMILIES AS INFLATION INCREASES
A sign outside a store reads in Spanish “We accept Dollars” in Buenos Aires, Argentina, December 12, 2023. (REUTERS/Tomas Cuesta/File Photo)
“The true inheritance of the caste model: Six out of every 10 Argentines are poor,” the libertarian president said in a social media post on Saturday. “The destruction of the last hundred years is unparalleled in Western history.
“Politicians have to understand that the people voted for change and that we are going to give our lives to bring it forward,” Milei added. “We did not come to play the mediocre game of politics. We came to change the country.”
Since taking office on Dec. 10, Milei has made good on many campaign promises to fundamentally overhaul the historically socialist federal government of Argentina.
ARGENTINA’S PRESIDENT MILEI HOLDS LIVESTREAM RAFFLE FOR HIS LAST SALARY AS LAWMAKER
President of Argentina Javier Milei gives a speech after his Inauguration Ceremony at National Congress on December 10, 2023, in Buenos Aires, Argentina. (Marcelo Endelli/Getty Images)
But Milei’s drastic overhaul of the country’s economy is not expected to be a smooth operation. The president himself has characterized it as financial “shock therapy” that will negatively affect thousands of citizens.
Milei signed a decree in December, outlining his plan to address the crisis. The plans included the privatization of state-owned companies, though he did not name the specific firms, Reuters reported. He previously said he favors the privatization of state-owned oil company YPF.
Argentina has South America’s second-largest economy, but is suffering 143% annual inflation, which has caused the country’s currency to plummet.
ARGENTINA’S MILEI CUTS 5,000 GOVERNMENT JOBS, WILL NOT RENEW CONTRACTS
A supporter holds a giant dollar bill with the face President elect Javier Milei as people start gathering outside National Congress ahead of his inauguration ceremony on Dec. 10, 2023 in Buenos Aires, Argentina. (Marcelo Endelli/Getty Images)
The country also has a trade deficit of $43 billion as well as $45 billion in debt to the International Monetary Fund, with $10.6 billion due to private and multilateral creditors by April.
On Friday, the country’s economy ministry reported a January budget surplus of 518.41 billion pesos, or $620.85 million. The announcement marked the first time the number has been in the green since August 2012.
Reuters reported that it was not immediately able to see a copy of the report.
Fox News Digital’s Timothy H.J. Nerozzi and Reuters contributed to this report.
World
Neon Closing in on Luca Guadagnino’s Sam Altman Open AI Movie ‘Artificial’ After Amazon Drops Controversial Film
“Artificial,” Luca Guadagnino‘s movie about Sam Altman and OpenAI, is about to get a new home.
Neon is closing in on a deal to acquire the nearly-completed $40 million film — set during the tumultuous time when Altman (played by Andrew Garfield) was fired and then rehired by the AI giant — after Amazon MGM Studios announced that it believed it would “be better served if it were released by a different studio.”
Variety reported that, of those who had seen the movie in screenings put on by CAA Media Finance — which is handling sales — Netflix, A24 and Focus chose not to pursue it. Mubi was also in the mix for the distribution rights.
Amazon’s decision came just months after the company signed a major partnership with OpenAI, including a $50 billion investment, and less than a year Altman’s relationship with Jeff Bezos was underlined by his appearance at the Amazon boss’s wedding. Variety heard that test screenings had been positive, but the studio still chose to exit, raising eyebrows about its motivations.
According to various people who have seen the film and read the script, “Artificial” portrays Altman as deeply untrustworthy and Elon Musk (played by Ike Barinholtz) as highly dislikable.
Alongside Garfield and Barinholtz, “Artificial” has a starry cast including Monica Barbaro as former OpenAI CTO Mira Murati and Yura Borisov as former OpenAI chief scientist Ilya Sutskever. Cooper Hoffman, Jason Schwartzman, Cooper Koch, Billie Lourd, Zosia Mamet, Angus Imrie, Chris O’Dowd and Mark Rylance also feature. The film was written by “SNL” alum Simon Rich.
Currently in the final stages of post-production, “Artificial” had been eyeing a festival launch at SXSW before Amazon’s departure. Given the latest acquisition, the movie could now potentially be in play for a slot at the Venice Film Festival, where Guadagnino’s previous films debuted.
Spokespeople for Amazon and CAA declined to comment, and a spokesperson from Neon did not immediately respond to a request for comment. Puck first reported Neon’s pole position in the dealmaking.
Angelique Jackson contributed to this report.
World
Trump admin backs Bolivia state of emergency as leftist ex-leader’s loyalists fracture nation
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The conservative, pro-U.S. government of President Rogrigo Paz is being challenged in the streets by radical elements led by a former socialist president recently forcing the new Bolivian government to introduce a state of emergency.
The landlocked mineral-rich nation is facing one of its deepest political crises in decades as economic turmoil, nationwide protests and a battle over the country’s future threaten to reshape the balance of power in South America.
The unrest comes after years of political divisions following the tenure of socialist President Evo Morales, whose Movement Toward Socialism (MAS) dominated Bolivian politics for nearly two decades. Internal fractures, economic decline and public frustration have weakened the movement and opened a new chapter of uncertainty.
US, SHIELD OF THE AMERICAS CONDEMN ‘ONGOING EFFORTS’ TO OVERTHROW BOLIVIA’S ELECTED PRESIDENT AMID UNREST
Bolivia’s President Rodrigo Paz delivers a speech in La Paz on June 3, 2026, after naming Ernesto Justiniano as defense minister following the resignation of Marcelo Salinas amid protests. (Claudia Morales/Reuters)
The Trump administration recently signaled strong backing for the Paz government while condemning efforts to destabilize the country.
Secretary of State Marco Rubio said the United States “Will not allow criminals and drug traffickers to overthrow democratically elected leaders in our hemisphere” and reaffirmed Washington’s commitment to Bolivia’s “stability, security, and a better future for all Bolivians.”
Speaking on background, a State Department spokesperson told Fox News Digital that, “The United States strongly supports President Rodrigo Paz’s decision on June 20 to declare a State of Exception to restore order and ensure the free flow of food, medicine, and essential supplies to the Bolivian people. We are glad that the blockades in Bolivia have ended and the government has restored order.”
Bolivia’s crisis has been driven by Morales and his supporters furious at the Paz reforms. Protests and road blockades have disrupted transportation, caused shortages and increased pressure on the Paz government.
José Luis Lupo, chief of staff and minister of the presidency of Bolivia told Fox News Digital: “After more than 50 days of blockades that severely disrupted the supply of food, fuel, and medicines, paralyzing much of the country’s economic activity and straining its democratic stability, I am convinced that Bolivia now faces a unique opportunity to transform a deep crisis into the starting point for a new phase of national reconstruction.”
26 June 2024, Bolivia, La Paz: Military police stand amid tear gas fired in front of the presidential palace on Plaza Murillo. (Photo by Radoslaw Czajkowski/picture alliance via Getty Images)
He noted that “for weeks, we sought agreements with various sectors because we believe that, in a democracy, every avenue for mutual understanding must be exhausted before resorting to extraordinary measures.”
He said the state of emergency [state of exception] “was the constitutional last resort to restore freedom of movement, protect critical infrastructure and ensure that Bolivians could once again access essential goods. It was not a measure intended to restrict rights, but rather to protect lives, preserve democracy and restore freedom of movement to millions of citizens.”
PETE HEGSETH WARNS NARCO-TERRORISTS AS US BACKS BOLIVIA’S GOVERNMENT AMID COUP WARNINGS
The turmoil has also had consequences beyond Bolivia’s borders. The country holds some of the world’s largest lithium resources, a key mineral for electric vehicles, batteries and advanced technology supply chains. Competition for influence in resource-rich Latin America has become increasingly important for Washington as China and other global powers expand their presence in the region.
Bolivia’s political crisis reflects a broader trend across Latin America, where voters in the last few election cycles have elected conservatives who challenged the left’s business-as-usual politics and in doing so have taken the continent in a rightward direction.
The socialist Morales remains an influential figure and continues to command support among rural and indigenous groups, keeping Bolivia’s political divisions alive even as the country searches for a path out of the crisis.
Mauricio Ríos García, manager of Crusoe Research and editor of FRACTAL Index in Bolivia, told Fox News Digital, “The 50-day blockades have caused estimated losses of $2.5 billion and the closure of around 13,000 companies. Once the blockades end, a rebound in demand combined with excess liquidity is expected to drive inflation higher.”
A police convoy clears one of the main highways after Bolivian President Rodrigo Paz declared a state of emergency following 50 days of blockades, in El Alto, Bolivia, on June 20, 2026. (Jorge Mateo Romay Salinas/Anadolu via Getty Images)
Ríos said, “The government is nearing an IMF agreement that would likely include a new devaluation (exchange rate unification) and other adjustments in exchange for financing of around $3.3–5 billion. This marks growing dependence on the IMF and the United States, while the gradualist approach has left the economy with very little room for maneuver and risks further instability.
“Expectations for Bolivia’s economy in the second half of the year have been revised downward. Blockades and deeper structural problems rooted in the government’s gradualist fiscal and monetary policies have worsened the difficult inheritance from the previous administration,” he concluded.
COLOMBIA’S ‘EL TIGRE’ SECURES PRESIDENCY AS LEFTIST RIVAL FINALLY CONCEDES DEFEAT
For Washington, Bolivia’s future represents more than a domestic political dispute. The outcome could influence America’s strategic position in the Western Hemisphere, the future of critical minerals, and whether Latin America’s recent political shift continues moving away from the left-wing movements that dominated parts of the region during the last two decades.
“I am convinced that stability will only endure if it is accompanied by inclusion. There can be no peace where neglect and inequality persist. That is why we are driving a development agenda for historically marginalized regions, particularly the provinces of La Paz, focused on infrastructure, basic services, productive development and the participation of the communities themselves,” Lupo said.
And as the barricades have lessened, Lupo, chief of staff and minister of the presidency of Bolivia, says, “A different phase is now beginning. I believe the country needs a broad political and social agreement involving the government, parliamentary forces, the regions, the productive sector, and civil society. Bolivia needs to pass reforms that provide legal certainty, promote investment, and modernize strategic sectors such as hydrocarbons, mining, lithium, renewable energy and the justice system. Such consensus is essential to restoring confidence, stabilizing the economy and generating sustainable growth.
“I hope to see Bolivia definitively replace confrontation with dialogue, strengthen its institutions, and build a more robust economy characterized by clear rules, democratic stability and greater opportunities for all,” Lupo concluded.
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The Trump administration had increased emergency humanitarian assistance to help address food and medical shortages caused by weeks of unrest, underscoring U.S. concerns that prolonged instability could have broader implications for regional security and democracy.
World
‘No MiGs for Ukraine’: Polish defence minister claims Kyiv backed out of deal with Warsaw
As relations between Ukraine and Poland remain at their worst state in years, the Polish defence minister claimed that Kyiv backed out of the two countries’ “MiGs in exchange for drones” deal and threatened to veto Ukraine’s EU accession.
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