Stories for June 18th 2005
Record high for oil and prospects of further surge
The price of oil finished Friday in New York at a new record, 58,47 US dollars per barrel pushed by growing supply concerns with the beginning of the United States vacation period and insufficient refining capacity.
Brazilians support Lula da Silva in spite of scandal
Two different public opinion polls show that Brazilian president Lula da Silva popularity has experienced some erosion because of the bribes scandal involving his administration and the ruling Workers party, but nevertheless is the favourite for next year's presidential election.
Argentina complains about Italian “hostility”
Argentina admitted Friday that relations with Italy are at their “worst moment” and complained of continuous hostility from the Silvio Berlusconi administration, particularly in the several multilateral organizations.
Ecuador redistributes oil income
Ecuador's Congress will give preference to social programs over lowering national debt. The country's Congress voted 64-1 to amend the law regulating the so-called Stabilization, Productive and Social Investment and Public Debt Reduction Fund, FEIREP, which feeds on revenue from the country's rich oil exports.
World Bank support for Uruguay's five year reform plan
The World Bank, (WB), extended Uruguay three credits totalling 175 million US dollars earmarked for infrastructure and social development during the official inauguration this week in Montevideo of the bank's regional headquarters.
