Stories for February 19th 2010
Argentina rejects orthodox recipes to fight inflation; promises “competitive” peso
Argentina’s Central bank new authorities rejected orthodox recipes as a way to fight rising consumer prices anticipating they will focus on helping companies boost output as private economic analysts forecast inflation ranging between 20 and 30% this year after having reached 15% in 2009.
Embattled Greek PM warns in London of “contagion”
The Greek Prime Minister has admitted there is a “fear of contagion” as his nation battles its debt crisis. George Papandreou also insisted his country was not looking for a banking-style bailout and denied that his people were “reckless”.
Abundant rainfall anticipate bumper soybean crops in Brazil and Argentina
Brazil and Argentina, the biggest soybean producers after the US, may harvest as much as a combined 120 million metric tons of the oilseed this year as rain boosts yields, Cargill Inc.’s Jose Luiz Glaser said.
Argentine central bank and Economy ministry seal “policies coordination”
Argentina’s Economy Minister Amado Boudou and Central Bank Governor Mercedes Marcó del Pont announced the appointing of the Council of Exchange, Financial, Economical and Monetary Politics.
Obama names bipartisan taskforce to tackle US budget deficit
President Barack Obama has set up a taskforce to tackle the growing US budget deficit.
The body will report back by the end of the year on what steps need to be taken to get the deficit down to 3% of GDP.
Argentine efforts to disrupt Falklands’ oil drilling round meet cool reception
As the “Ocean Guardian” oil rig was this morning due to arrive at Desire Petroleum’s prospecting site 100 miles off the Falkland Islands, Argentina’s latest efforts to disrupt exploration were treated to a cool response by the United Kingdom and Falklands elected authorities, reports this Friday edition of the Penguin News.
Federal Reserve tightens policy raises discount rate to commercial banks
The United State Federal Reserve tightened monetary policy Thursday for the first time in more than a year, raising by 0.25 percentage points the discount interest rate at which the US central bank lends directly to commercial banks.
Lula da Silva’s bets all his prestige on Dilma Rousseff as presidential candidate
“The Great Transformation” project takes off this weekend when the Brazilian ruling party of President Lula da Silva will be nominating his hand-picked candidate for the October presidential election, none else than cabinet chief Dilma Rousseff, 62.
US and Cuba resume immigration talks in Havana
The US government confirmed that one of its top diplomats for Latin America will participate this week in Havana in a new round of talks on immigration issues with Cuba.
China investing heavily in long term supply resources projects in Latinamerica
China’s voracious appetite for Latinamerican commodities is turning into a great opportunity for companies in the region not only because of the huge market but also as a great financial source.
