Stories for November 10th 2011
Euro crisis: IMF chief warns of a “lost decade”; China calls for strong political will
The head of the IMF warned on Wednesday that Europe's debt crisis risked plunging the global economy into a “lost decade” and said it was up to rich nations to shoulder the burden of restoring growth and confidence.
Close advisor of CFK denies she wants to remain in power beyond 2015
A close Senator and advisor to President Cristina Fernandez denied on Wednesday the Argentine leader is interested in staying in power beyond 2015 and said a constitutional amendment “is not viable”.
Arguello named as the next Argentina ambassador in Washington
Jorge Argüello was appointed as the new Argentine Ambassador to the United States by President Cristina Fernández, according to a release from the Foreign Affairs ministry. Government sources in Buenos Aires said Argüello, who currently represents Argentina before the United Nations, will replace Alfredo Chiaradia in Washington DC.
Brazil preparing battery of incentives if Q3 GDP growth is not convincing
Brazil’s government is debating whether to remove credit restrictions imposed in the last eleven months as President Dilma Rousseff seeks to shore up economic growth, according to government officials.
Brazilean court allows construction of controversial gigantic dam to continue
A Brazilian federal court on Wednesday rejected an appeal for suspending construction of the controversial 11 billion dollars Belo Monte hydroelectric dam in the heart of the Amazon until after indigenous people has been consulted.
Chinese leading bank planning to expand business in Argentina
China Industrial and Commercial Bank Ltd. plans to invest 100 million dollars in Standard Bank Argentina once it receives regulatory approval to buy a majority stake in the company, according to Argentine financial sources.
Obama/CFK meeting “warm” but Argentina must pay its debts
The US referred to last week’s meeting between Barack Obama and President Cristina Fernández as “warm,” but once again “encouraged” Argentina to pay off the debt it holds with US bondholders and companies.
The Falkland Islands in search for a voice
By John Fowler - In the first of a planned series of extended articles written exclusively for the Penguin News web site, Deputy Editor John Fowler examines the causes of the frustration felt by many Falkland Islanders in the face of the recent plethora of statements issuing from the Argentine propaganda machine
Uruguay advised to lower Mercosur expectations and ‘follow your own interests’
Mercosur expectations must be lowered and made to prosper in energy integration, infrastructure and trade, said a Uruguayan leading economist adding that without sounding dramatic “we must follow our interests”.
Uruguay best place to live in Latin America, says Legatum Institute
Uruguay is the best place to live in Latin America according to the Legatum Institute fourth year index on quality of life conditions which ranks 110 countries world wide representing 90% of world population and 97% of the global economy.
