Since the poineering work of Walker [1, 2], evidence has been mounting that the E1Nifio-Southern Oscillation (ENSO) phenomenon causes rainfall anomalies in various parts of the globe [3, 4]. These anomalies are particularly well defined over the region of South America [4 6]. Rivers exhibit the advantage of being rainfall integrators over large areas. This approach was used by Richey et al. [7], who have shown a significant (5% level) coherent relationship in the crossspectral analysis of deseasonalized Amazon discharge data and atmospheric pressure anomalies at Port Darwin, Australia. Precipitation over the Amazon basin appears to be stimulated by the ascending motions associated with the Southern Oscillation (SO) positive phase and, hence, its positive level departures occur mainly during cold events, also known as La Nifia [31. Early in the study of the SO, a keen interest arose on the connection which might exist between the SO and the flow regime of the Paranfi River. Originally Mossman [8], and, a few years later, Bliss [9], pointed to the relationship of the SO with rainfall over southern Brazil, Paraguay, and northern Argentina, as presented by the level of the Paranfi River 420 km above the mouth, at Rosario, Argentina. In opposition to the Amazon, the Paranfi positive level departures are significantly correlated with ENSO warm extremes. Moreover, the "season" of ENSO-related precipitation in the Paranfi River drainage basin is in phase with the normal annual precipitation cycle [10], thus causing flooding events often disastrous during E1 Nifio years. To the best of our knowledge, the Paranfi is the largest river system in the world which exhibits such a behavior. A relatively long record of the Paranfi discharge oscillations is available for the Corrientes section (Fig. l). In analyzing this daily record (Fig. 2A), we seek to establish the frequency of the variability and the significance of the teleconnection with the ENSO phenomenon. This record reflects the hydrologic conditions prevailing over 1.95 x 106 km 2 (ca. 70o7o of the total basin area), including the runoff supplied by the Andean headwaters of the Bermejo and Pilcomayo rivers, the discharge provided by the Mato Grosso through the Paraguay River, and the water output delivered by the Upper Paranfi River basin with headwaters in Brazil's Serra dos Preneos. When the discharge time series of Fig. 2A is considered, the most outstanding features which arise are the pronounced seasonality with high waters in February/March and low waters in August/September the substantial variability, and the magnitude of the 1982/83 flood. This flood, obviously related to the strong 1982 E1 Nifio event, caused profound modifications in the biogeochemical functioning of the river [l l , 12]. Other large floods, such as those of 1904, 1911, 1932, and 1965, also occurred in accordance with ENSO warm events [4]. Worthy of attention are the negative deviations in the record (Fig. 2B), which persisted longer than positive ones, at least until
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