Tuesday Feb 28, 2023 - Argentina - Lowering Reserve Target, New Pipeline, World Cup-winning manager signs on

These are the trending news headlines in Argentina on Tuesday Feb 28, 2023

Argentina is discussing lowering its net reserve target for the third time with the International Monetary Fund (IMF). A staff-level agreement may be announced as early as February 27, with the IMF executive board voting on the fourth review of the program around March 22. Negotiators have met in Buenos Aires and Washington for the fourth review of the program, with both sides discussing a smaller figure for net reserve accumulation in 2023. The current deal is seen as the only major anchor providing some stability to the Argentine economy. Economy Minister Sergio Massa has stressed the need to be "realistic" and "predictable" with achievable objectives.

In Argentina, the construction of a new pipeline is a promising sign for the country's energy industry. The 356-mile long pipeline will carry natural gas from remote northern Patagonia to the east, helping to relieve bottlenecks that have stifled production of fossil fuels. This is a significant step towards reducing the country's dependency on fuel imports and regaining its status as a key energy exporter. The project comes as the US shale boom slows and global gas markets are affected by the war in Ukraine. Despite government restrictions, the Vaca Muerta geological formation is showing signs of renewed potential.

Argentina's World Cup-winning manager, Lionel Scaloni, has signed a contract extension until 2026, just a few months after leading his country to glory in Qatar. The 44-year-old coach, who initially faced opposition in securing the job, ended Argentina's 28-year trophy drought by leading them to the 2021 Copa America before winning the World Cup the following year. Scaloni, who was capped seven times for his country as a player, has been rewarded for becoming the fourth youngest manager in history to lift the World Cup. Despite pressure to craft a squad that could beat anyone, he has earned a new contract and the chance to continue leading Argentina's football team.

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