Stories for May 2003

Tuesday, May 20th 2003 - 21:00 UTC

Boost for Falklands Tourism.

Tourism in the Falklands Islands has developed spectacularly in recent years, and the
trend continued in the season just ended.

More than 1,600 visitors travelled around the islands on land tours either in
organised groups or independently ? an increase of 800 per cent in only five years.

Tuesday, May 20th 2003 - 21:00 UTC

US Senate approves tax reduction.

The United States Senate finally approved last Thursday a 350 billion US dollars tax cut presented by the White House in an attempt to pull the US economy out of its anemic condition. However the ten year proposal passed the higher House with a tight 51-49 majority and now faces a conference with the House of Representatives that approved a 550 billion US dollars cut, more in line with the original President Bush proposal of 726 billion.

Tuesday, May 20th 2003 - 21:00 UTC

G 8 recommends optimism.

Meeting for the first time since the end of the Iraq war, the Finance Ministers of the seven richest industrialized countries, plus Russia, the G 8, expressed their confidence in the world's economy recovery and recommended long term reforms both for rich and poor nations. The meeting took place in Deauville, north of France in preparation for the G 7 summit scheduled in two weeks time in Evian.

Tuesday, May 20th 2003 - 21:00 UTC

Kirchner cabinet choice to reveal clues.

Néstor Kirchner, Argentina's president-in-waiting, was on Monday putting the finishing touches to his executive cabinet, which he is expected to unveil on Wednesday, four days before he takes power.

Monday, May 19th 2003 - 21:00 UTC

Kirchner promises support for fisheries sector.

Elected President Néstor Kirchner's, who takes office May 25 says the fishing industry will form a substantial part of Argentina's economic and social development. He intends to strengthen fishing and associated industries in existing production areas, optimizing the benefits of a rational and sustainable use of fishery resources.

Monday, May 19th 2003 - 21:00 UTC

Successful Uruguayan debt exchange.

Almost 90% of Uruguayan sovereign bond holders accepted the voluntary debt exchange proposed by Uruguayan authorities involving 5,393 billion US dollars. This means that 4,854 billion US dollars will be formally changed next May 29 with the documentation passing through the United States Securities and Exchange Committee.

Monday, May 19th 2003 - 21:00 UTC

IMF, WTO and WB push for market access.

The need to fully appreciate the value of liberalizing world trade, particularly in agriculture, is essential to allow trade negotiations to move forward again before the WTO ministerial conference in Cancún next September, was emphasized in a joint statement by the International Monetary Fund, World Trade Organization and the World Bank.

Monday, May 19th 2003 - 21:00 UTC

Risk of deflation extends.

For decades Keynesian and growth policies stimulated employment and domestic demand, but also inflation, until it became a kind of curse. Now, according to one of the latest papers of the International Monetary Fund, IMF, several countries, including Japan and Germany, face the risk of deflation.

Monday, May 19th 2003 - 21:00 UTC

“A new Argentina is emerging”

Elected Argentine president Nestor Kirchner, who takes office next May 25, anticipated he will struggle to recover the government's action capacity and “Argentines can count that I'm not going to be an employee of financial interests”.

Monday, May 19th 2003 - 21:00 UTC

Rammell welcomes new Postcode for the Falkland Islands.

From today, residents of the Falkland Islands will be able to enjoy a postcode, similar in format to those used in the UK. Bill Rammell, Foreign Office Minister, welcomed the innovation, saying:

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