Stories for December 31st 2009
Dear MercoPress subscribers and readers:
MercoPress wishes all subscribers and readers a very prosperous New Year, hoping 2010 will definitively help to lift the world out of global recession.
Lula da Silva ends 2009 with a military crisis over reviewing the past
Brazilian president Lula da Silva praised as one of the most influential leaders of the world ends 2009 with a serious political crisis: the Minister of Defence and the commanders on the three services have threatened to resign over the creation of a “truth commission” to investigate human rights abuses during the military dictatorship that extended from 1964 to 1985.
Argentine archbishop convicted for sexual abuse
Argentine cleric gets 8 years in sex abuse case. An Argentine judge convicted a former Roman Catholic archbishop Wednesday of sexually abusing a seminarian in 1992.
Uruguayan economy forecasted to grow 4%; peso appreciated 25% in 2009
Uruguay’s peso achieved a record annual gain as neighboring Brazil’s economic recovery fueled demand for the country’s exports. The peso has jumped 25% this year, (9.4% in the last quarter) its biggest annual advance since the government created it in 1993 to replace the nuevo peso as part of an effort to stem surging inflation.
Argentina’s stock market completes biggest annual gain in 18 years: 115%
Argentina’s main stock index completed its biggest annual gain in 18 years. The Merval index’s 115% rise this year is its best performance since 1991 and reverses a 50% drop in 2008.
Chile’s share-index advanced 51% in 2009; Peso 26% stronger
Chile's leading share index ended 2009 with an annual gain of 51% as utility, retail and commodity stocks fuelled the biggest annual rise in 16 years. At the same time, Chile's currency, the peso ended with a 26% annual advance against the dollar, traders said.
Brazil’s market soars 83% in 2009 and Real appreciates 34% against US dollar
The performance of Brazilian stocks in 2009 has been one of the highest in the world while the local currency, the Real reflected the recovery of Latinamerica’s largest economy by appreciating 34% against the US dollar this year.
