IMF unlocks $4.7bn for Argentina amid economic crisis, Milei austerity cuts

Argentina, under President Javier Milei, has finalized an agreement with IMF to release $4.7 billion as part of a debt restructuring plan.
Argentina is grappling with severe economic challenges, including high inflation and 40 percent of the population living in poverty.
President Milei, who assumed office in December, aims to address the crisis by implementing measures such as currency devaluation, austerity measures, and privatization of over 40 public companies.

Ecuador president declares ‘war’ with criminal gangs amid soaring violence

Ecuadorian President Daniel Noboa declares his country is "at war" as drug gangs, led by the escaped Los Choneros gang leader Adolfo Macias, take over 130 prison guards and staff hostage.
The violence escalated after Noboa announced a state of emergency following the prison escape of Macias, one of Ecuador's most powerful narco bosses.
President Noboa orders the "neutralization" of criminal gangs, designating 22 of them as "terrorist" organizations and official military targets. Riots break out in multiple prisons where 125 guards and 14 administrative staff held hostage.
. France and Russia advise their citizens against traveling to the South American country amidst the unrest.

Guyana's government seeks assistance from the U.S. to enhance its defense capabilities amid concerns that Venezuela may attempt to seize a disputed region in western Guyana, known for its mineral and oil wealth.

Talks between top Guyanese officials and Daniel P. Erikson, U.S. Deputy Assistant Secretary of Defence for the Western Hemisphere, concluded with the U.S. committing to help Guyana establish a more organized and well-equipped military.

The discussions also focused on modernizing defence capabilities, including scope, capability, and cybersecurity.

The tensions between Guyana and Venezuela intensified after a century-old dispute over the Essequibo region, with Venezuela holding a December referendum to claim sovereignty.

The Chilean government has partnered with Google to develop the Humboldt Cable Project, an undersea fibre-optic cable connecting Chile's Valparaiso to Sydney, Australia.
Spanning 14,800 kilometres with a capacity of 144 terabytes and a 25-year lifespan, the cable aims to position Chile as a digital hub in South America, fostering new industries and opportunities.
The project is significant in the context of global technology competition, particularly between China and the United States, with undersea cables playing a crucial role.
The announcement coincides with efforts by both countries to expand their economic and political influence in Latin America.
Previous investigations revealed that U.S. diplomatic pressure influenced the routing of undersea fibre-optic cable projects to Asia, involving Google as an investor.

US and UK naval forces conducted air strikes in Yemen against Houthi rebel targets in response to repeated Houthi attacks on commercial vessels in the Red Sea.
The Houthi attacks in the Red Sea have escalated, leading to increased risks for shipping, economic disruptions, and a significant diversion of global shipping routes.
The international response aims to counter the Houthi threat and protect freedom of navigation in the region.
The Houthi rebel group, backed by Iran, claimed at least five casualties in the strikes and stated they would continue targeting Israeli ships.
The attacks are a response to perceived Israeli actions in the Gaza Strip. Iran and Hezbollah, Houthi allies, condemned the strikes.
The US and UK emphasised the need to defend freedom of navigation and the international community's warnings against Houthi attacks on commercial shipping.

China emphasized its unwavering stance on the Taiwan issue during its first military talks with the United States since 2021.
China urged the U.S. to "stop arming Taiwan" and take its concerns seriously, emphasizing that it would "never compromise" on the Taiwan question.
The talks come just days ahead of pivotal elections in Taiwan, adding to the existing tensions between China and the U.S. over Taiwan.

China has imposed sanctions on five U.S. arms manufacturers over their involvement in weapons sales to Taiwan. Beijing considers Taiwan as part of its territory and has not ruled out the use of force to assert its claims.
The sanctions target BAE Systems Land and Armament, Alliant Techsystems Operation, AeroVironment, ViaSat, and Data Link Solutions.
The move follows the approval of a $300 million arms package by the U.S. State Department to strengthen Taiwan's joint battle command and control system.
China sees such arms sales as a violation of its sovereignty and security interests and had previously warned of unspecified "countermeasures" against the involved companies.

Two U.S. Navy sailors are reported missing off the coast of Somalia as they were conducting operations.
The incident occurred when the sailors were boarding a vessel, and one fell into the water due to eight-foot swells. The second sailor jumped in to rescue the first one as per protocol.
The missing sailors were deployed to the U.S. 5th Fleet’s area of operations, and their names have not been released.
The incident comes amid rising U.S. attacks on Houthi rebels, although it is not specified if the missing sailors' situation is directly related to these operations.

News bits proofread and edited by:

Ayushi Attri (M.A. I.R., 2nd Year)

Drafted by:

Aita Dey (B.A. I.R., 3rd Year)

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