These are the trending news headlines in Argentina on Thursday April 6, 2023 Argentina is facing billions of dollars in legal losses after courts in the US and UK ruled against the country in a series of lawsuits related to growth-linked securities and the nationalization of an oil company a decade ago. This is the latest challenge for Argentina, which is struggling with 100% inflation, dwindling foreign reserves, a drought that is damaging export crops, and a looming presidential election in October. Experts predict that the settlements could be in the billions of dollars. Argentina's dollar bonds extended losses after the latest ruling out of the UK, which holds the nation liable for losses in so-called GDP warrants after the country changed its method of calculating growth. A third US-based court case will be heard later this year over a similar dispute involving Argentina’s dollar-denominated warrants. Argentina is no stranger to lengthy court battles and the country's new administration will inherit both the potential legal payouts, as well as a $65 billion pile of overseas bonds that begins maturing in 2025. The International Monetary Fund (IMF) has lowered economic targets for Argentina, but some analysts believe the targets are still too high and may set the country up for further failure. The IMF cut the level of foreign currency reserves Argentina needs to build up by the end of this year due to a drought that has affected production of top exports soy and corn. However, analysts have criticized the IMF's inflation aims, crop production forecasts, fiscal targets, and reserves buildup aims as overly optimistic and out of Argentina's reach. Goldman Sachs' Sergio Armella wrote that Argentina seemed unlikely to have met the adjusted reserves and fiscal targets for the first quarter and that the country would face rising pressures as it approaches October's presidential elections. MotoGP rider Marco Bezzecchi has described his emotions as "desperate" upon learning that the Argentina GP would be held in the wet. However, he went on to make history at the race, taking his maiden victory in MotoGP and the first for Valentino Rossi's team. Bezzecchi dominated the race from the start, finishing over four seconds ahead of his nearest rival. He admitted that mentally, the rain made the race much tougher, but he managed to stay focused and calm, telling himself to be gentle with the bike and keep his concentration. Despite not understanding why he was stronger than the rest of the field, Bezzecchi was overjoyed with the result, saying it was "something that you can’t describe, it’s incredible". For more trending news headlines in Argentina, simply search ‘Auscast Argentina News Headlines’ in your favourite podcast app.    See omnystudio.com/listener for privacy information.