Stories for March 22nd 2004
Breaking News from Pta. Arenas.
Headlines:
Lagos campaigning in Magallanes; Benthonic survey to tap Magallanes resources; Chilean Antarctic Institute HQ in Punta Arenas; Magallanes trade with EU jumped 31%; Minke whale sighted in Magellan Strait; Belfast Queen's University in Punta Arenas.
Argentina before the IMF Executive Board.
The International Monetary Fund, IMF, Executive Board is scheduled to formally approve this Monday the second review of the three year stand by program with Argentina, which will open the way for a reimbursement of 3,1 billion US dollars to Argentina and other pending credits from the World Bank and the Interamerican Development Bank.
Counter cyclical Fiscal Fund proposed.
One of Buenos Aires most respected private financial consulting organizations is recommending given the strong fiscal situation of Argentina, the creation of a Counter cyclical fiscal fund to help restructure debt and invest in social development.
Brazilian minister criticizes “moaning” countries.
Brazilian Finance Minister Antonio Palocci criticized countries that “spend their time insulting the International Monetary Fund”.
Peru purchases four frigates.
Peruvian president Alejandro Toledo announced last week the purchase of four missile frigates Type Luppo offered by the Italian government.
Optimistic forecast for Latinamerica.
Latinamerica is forecasted to expand 4% in 2004 according to Enrique Iglesias president of the Inter-American Development Bank, IDB.
