Briefly

ARGENTINA

Poverty rate spikes in Milei's shock therapy

Argentina's poverty rate jumped from almost 42 percent to 53 percent during the first six months of Javier Milei's presidency, the statistics agency reported on Thursday, a steep rise reflecting the pain of the country's most intense austerity program in recent memory. The government's finding that Argentina's half-year poverty rate in 2024 had surged to its highest level since 2003 when the country was reeling from a catastrophic foreign debt default and currency devaluation, marks a setback for the far-right economist.

AUSTRALIA

Sydney, London agree submarines treaty

Australia and Britain said they would strike a bilateral treaty to produce a new class of nuclear-powered submarines, under the AUKUS partnership, which also includes the United States. Australia will buy US Virginia class nuclear-powered submarines from the United States in the next decade, with Britain and Australia later building a new class of AUKUS submarine at Barrow-in-Furness in England and in South Australia under the AUKUS pact announced in 2023. A joint statement said the AUKUS partners were increasing their ability to develop and deliver offensive and defensive hypersonic technologies, and will conduct a large-scale drone exercise later this year.

Agencies Via Xinhua