Stories for May 4th 2011
IMF warns Latam of ‘complacency’, leading to overheated economies
Economic growth in much of Latin America remains strong, propelled by rising commodity prices, easy financing conditions, and stimulative policies. Growth exceeded 6% in 2010, and while it is projected to moderate to about 4¾% in 2011, the IMF says countries should remove the policy stimulus on a timely basis.
Argentina’s economic performance ‘below’ South America’s average
The Argentine ‘development model’ had had its successes but it belongs to the average group of most South American countries that benefited by the explosive advance of commodity prices and since 2007 has fallen to the bottom half of performers in the region according to former Economy minister Martin Lousteau.
Argentina leads in horse meat exports: 23.880 tons in 2010
In spite of its love for horses, Argentina is the world’s leading exporter of horse meat having shipped 23.880 tons in 2010, valued 75 million US dollars according to the country’s Animal health and Agro-food quality service, SENASA.
Peru accepts Ecuador maritime borders, much to Chile’s chagrin
Peru recognized maritime borders with Ecuador on Monday employing the same criteria they took Chile to The Hague in 2008 for using.
Radioactive contamination found in Japanese cars ready to unload in Chile
Last Sunday Chile’s customs agency in the northern Iquique port detained a cargo ship carrying 2,500 Hyundai cars after at least 21 of the cars were found with traces of radioactive contamination.
Royal Caribbean awarded the “Investment in People” prized
Royal Caribbean Cruises Ltd. received recognition for its shipboard “Building On Talent” leadership development program during this year's Seatrade Awards Ceremonial Dinner.
Latam FDI soars 40% in 2010, mainly natural resources and services
Latin America and the Caribbean was the region with the strongest percentage increases as a recipient and source of Foreign Direct Investment (FDI), according to a report presented Wednesday in Mexico City by the Economic Commission for Latin America and the Caribbean, ECLAC.
World Press Freedom Day established by UN Assembly December 1993
World Press Freedom Day was established by the General Assembly of the United Nations in December, 1993, as an outgrowth of the Seminar on Promoting an Independent and Pluralistic African Press.
First South America Seatrade cruise convention in Sao Paulo May 30/31
For the first time ever South America will be hosting the cruise industry major event, the Seatrade Cruise Convention organized by the Seatrade Group and Abremar, the Brazilian Association of maritime cruises. The event is scheduled for May 30 and 31 in Sao Paulo and CEO from some of the leading cruise companies have already confirmed their attendance.
Mercosur main partners heading for a record year in bilateral trade
Trade among the two leading Mercosur partners reached 11.7 billion US dollars during the first four months of the year with Argentine exports to Brazil reaching a record 5.2 billion USD. This is 29% higher than in 2010 and 23% above the 2008 record year.
