Lining up at a Buenos Aires bank
Lining up at a Buenos Aires bank

BUENOS AIRESInflation has become a palpable reality in Argentina, as citizens face regular hikes in consumer, energy and transport prices. The 100-peso bill is now worth a quarter what it was in 2007, and several banks have suggested to the Central Bank that it start printing notes in larger denominations.

Currently, 100 pesos are trading around $12, down from a little over $14 in January and roughly $19 a year ago.

Petty change — Photo: Jorge Gobbi

The presidential office has apparently ruled that out already, as the move would be a public recognition of inflation’s gravity. Banks are finding it increasingly costly to use larger numbers of banknotes for the same banking operations. Cash dispensers, for example, have had to be stuffed with more notes, and the cost of printing five 100-peso bills is higher than the cost of printing a single 500-peso bill.

The 100-peso note now has the purchasing power of about 27 pesos. But a recent poll shows that only 42% of Argentines favor printing more notes of larger denominations.

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Geopolitics

In Sudan, A Surprise About-Face Marks Death Of The Revolution

Ousted Prime Minister Abdalla Hamdok was the face of the "stolen revolution". The fact that he accepted, out of the blue, to return at the same position, albeit on different footing, opens the door to the final legitimization of the coup.

Sudanese protesters demonstrating against the military regime in London on Nov. 20, 2021

Nesrine Malik

A little over a month ago, a military coup in Sudan ended a military-civilian partnership established after the 2019 revolution that removed President Omar al-Bashir after almost 30 years in power. The army arrested the Prime Minister Abdalla Hamdok and, along with several of his cabinet and other civil government officials, threw him in detention. In the weeks that followed, the Sudanese military and their partners in power, the Rapid Support Forces, moved quickly.

They reappointed a new government of “technocrats” (read “loyalists”), shut down internet services, and violently suppressed peaceful protests against the coup and its sabotaging of the 2019 revolution. During those weeks, Hamdok remained the symbol of the stolen revolution, betrayed by the military, detained illegally, unable to communicate with the people who demanded his return. In his figure, the moral authority of the counter-coup resided.

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