Our Thursday Sociedad Media Now newsletter featuring the latest on Argentina’s economic situation & the racism scandal with Paraguayan senator Celeste Amarilla involving French fútbol star Kylian Mbappé.
Argentina’s Financial Risk Level Hit Eight-Year Low. Milei’s Bet Is Paying Off — For Now
BUENOS AIRES — Argentina’s country risk dropped to 406 basis points on July 8 — an eight-year low not seen since April 2018 — after Economy Minister Luis Caputo presented a 2026-2027 debt roadmap that convinced markets Argentina will honor its obligations without raising net debt.
Fitch and S&P both upgraded Argentina’s sovereign credit rating within a two-month window, the Central Bank hit its dollar-buying target in just six months, and inflation fell from over 200 percent in 2024 to a projected 17-18 percent in 2026 — delivering the strongest single data point yet for the Milei economic model, even as analysts warn that low foreign reserves, political resistance to reform, and the 2027 midterm election cycle represent the variables that could still unwind a turnaround that has been, by any historical measure of Argentine finance, remarkable.
France Files Criminal Charges After Paraguayan Senator Hurls Racist Insults Towards French Striker Kylian Mbappé Following World Cup Loss
Paraguay senator Celeste Amarilla posted a series of racist attacks on X targeting Kylian Mbappé after France eliminated Paraguay 1-0 in the round of 16 — mocking his “Cameroonian roots” and attacking his appearance and education using racially coded language that French prosecutors classified as aggravated public insult and incitement to hatred — prompting Mbappé to call her “a despicable woman and unworthy of your position” whose “brazen racism” had erased the memory of Paraguay’s historic World Cup run.
French Football Federation to file criminal charges in Paris, French President Macron backs Mbappé’s response, and Paraguay’s own foreign ministry to condemns the senator’s remarks, as Amarilla deletes posts as part of international incident.
