Stories for April 11th 2012
US and EU considering WTO actions against Argentine ‘protectionist practices’
The US and forty countries which formalized a joint statement before the World Trade Organization complaining about Argentina’s trade restrictions are considering moving a step further and begin a “disputes settlement” process which could lead to an open condemnation if the administration of President Cristina Kirchner does not lift the protectionist network.
IMF will make compulsory review of economy in spite of Argentina’s refusal
The International Monetary Fund will make a compulsory review of Argentina’s economy because of the country’s refusal to allow the multilateral organization to examine its finances since 2006, the Buenos Aires media reported on Wednesday quoting IMF sources.
Hillary says US interested in “a 21st century partnership” with Brazil
Secretary of State Hillary Clinton described Brazil as a “responsible country” in world affairs and praised Brazil’s “growing impact in global stability and security”, during an event at the US Chamber of Commerce.
Argentina’s Prosecutor General resigns, looses first round to Vice-president Boudou
Argentina’s Prosecutor-general Esteban Righi officially resigned to his post on Tuesday, following Vice-President Amado Boudou’s decision to press charges against the prosecutor leading the investigation into the politician's role in the Ciccone currency printing company investigation.
Paraguayan economy forecasted to suffer a strong contraction this year
The economy of Mercosur junior member Paraguay, is set to remain flat or even suffer a slight contraction in 2012 after several years of sustained growth announced on Tuesday the country’s central bank.
A possible Chinese exit for the ongoing clashes between Repsol YPF and Argentina
China National Offshore Oil Corporation, CNOOC, could prove to be the solution for the ongoing clash between the Argentine government and Spain’s Repsol which holds a majority stake in YPG, Argentina’s main oil and gas company.
Petrobras and Argentine government reach tentative agreement to increase investments
The escalade between the Argentine government and the oil companies seems to have cooled off for a few hours on Tuesday following a meeting of Planning Minister Julio De Vido with top officials from Petrobras Argentina, and which was described as ‘productive’.
Half a million Argentine tourists ‘invaded’ Chile during the first quarter of 2012
In the first quarter of this year, 1.2 million foreign tourists arrived in Chile, which represents a 14% increase over the same period a year ago, reported the Under Secretary of Tourism Jacqueline Plass.
Bolivia rescinds contract to build road through Amazon Indian reservation
Bolivian President Evo Morales says he is rescinding the contract of a Brazilian firm to build a controversial road through the Amazon rainforest. He accused the firm, OAS, of not complying with the terms of the deal.
Brazil will bring up Europe poultry-meat subsidies at next Mercosur/EU trade round
Brazil has given a clear indication of its intention to attack European export subsidies for poultry-meat the next time Mercosur and the EU meet to discuss a possible cooperation and trade agreement.
