Argentina renationalizes Parana-Paraguay waterway operations
Argentine President Alberto Fernández has renationalized the administration of the Paraná-Paraguay Waterway by decree, granting control to the General Ports Administration (AGP).
The decision, formalized on Thursday via Decree 427/2021, assigns the tasks of the hands control of the river network’s maintenance (including dredging) to the port authority for at least 12 months until a new, long-term international concession is awarded.
The AGP administration extends for some 1,238 kilometers (769 miles) to the Paraná River’s outlet into the River Plate estuary downstream, near Buenos Aires.
The waterway is a key route for exports, carrying 125 million tons of cargo annually and accounting for 80% of Argentine foreign trade.
Extending some 3,500 km (2,175 miles) into central Brazil - it's believed to account for most of the estimated $10 billion in unregistered exports, mainly soy and grains.
Thursday’s decree brings to an end a quarter-century of administration by the Belgian dredging company Jan de Nul and its local partner Emepa since 1995, once the 90-day rollover ruled by Resolution 129/2021 last April expires.
At: https://www.batimes.com.ar/news/economy/government-hands-control-of-parana-paraguay-waterway-to-port-agency.phtml
Freighters ply the Paraná River near Rosario, Argentina.
The Paraná-Paraguay Waterway, whose operations were privatized in 1995, accounts for most of the estimated $10 billion in unregistered exports (mainly soy and grains).
Senator Jorge Taiana, a leading proponent of its renationalization, noted that the concession had expired and that "in the U.S. the important rivers are dredged by the Army (Corps of Engineers) because it's a matter of national security."
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But then, they've been that way non-stop since Trump's pal Macri was defeated a year and a half ago.
You may recall that Trump strong-armed the IMF to give him a $45 billion bailout in 2018, hoping that this might rescue Macri's re-election chances (the money was then mostly offshored).
The bailout did help him a little (Macri got 40% - when polls had him at 30/35%) - but it couldn't sway nearly enough swing voters.
Meanwhile, Argentina is stuck with a $45 billion IMF debt - and $37 billion is due within the next two years.
Argentina, as you may know, isn't a poor country per sé (2nd world, you might say) - but it's dollar-poor:
It can't earn that kind of foreign exchange in so short a time - and since it's cut off from global bond markets, they'll have to default on it unless the IMF extends the repayment period.
Biden's so far been reluctant to lean on the IMF to reschedule because it would be a tacit admission that a former U.S. president did, in fact, use the IMF like a toy to help a buddy.
But what I'd tell him is: look, everyone already knows that - and everyone already knows that Trump is, well, Trump.
Thank you for your time and thoughts, Warpy. Have a great Fourth! 
