Stories for August 9th 2011
Argentina’s Congress ‘inflation index’ for July, 1.62%, doubles the official rate
Argentina’s “Congress inflation index” reached 1.62% in July, confirming well over 23% for the last twelve months according to the latest release from the Lower House.
Inflation in China higher than expected; food prices climb 14.8% in 12 months
Inflation in China was higher than expected in July, despite a series of efforts by the government to rein in prices. Consumer prices in July rose 6.5% compared with the same month last year, the National Bureau of Statistics said.
Corruption-shocked Brazilian government paralyzed; agenda blocked in Congress
Brazil’s federal Police arrested on Tuesday Deputy Tourism Minister in a corruption sweep tied to funding for major sports events, the latest in a series of scandals to tarnish President Dilma Rousseff’s government.
Argentina (and South America) “prepared to face rich countries economic crisis”
Argentina’s Minister of Economy and President Cristina Fernández de Kirchner running mate for the upcoming presidential elections Amado Boudou stressed Tuesday that the country is ready to face the recent international economic crisis that has pushed world markets down for the past week.
Federal Reserve anticipates low rates and current stimuli level through mid-2013
The Federal Reserve said on Tuesday it will keep its hefty monetary policy stimulus for at least another two years, an effort to support a flagging economy and fragile global markets that face considerable selling spree.
“Demanding Falklands’ sovereignty talks before anything else, states Argentina’ current default position”
In an interview with the Buenos Aires Herald, Argentine Defence Minister Arturo Puricelli demands that Falklands’ sovereignty talks must be started before any other issues can be discussed.
Brazil Defence minister wants the South Atlantic as a peace zone shared with Africa
Brazil’s new Defence minister Celso Amorim said he plans closer links with Unasur (Union of South American Nations) and Africa to ensure the South Atlantic turns into a peace zone free of weapons of mass destruction.
To face the crisis, it is necessary to act with “the criteria of a good housewife”
Uruguayan President Jose Mujica said Monday that the developed world financial scenario is quite disappointing almost regrettable, and recovery in those countries can be expected to be “very slow and full of uncertainties”
“The most significant financial crisis capitalism has faced in contemporary history”
“I have no doubts we are before the most significant financial crisis capitalism has faced in contemporary history”, said Uruguay’s Vice-president Danilo Astori when asked about the possible consequences for the region if the lack of confidence in the US dollar and Euro extends.
Leading wind turbine maker to establish assembly plant in Brazil
Danish wind turbine maker Vestas is to establish its first assembly plant in Brazil and expects it to be operational in the fourth quarter.
