Stories for June 29th 2012
Mercosur will not impose economic sanctions on Paraguay despite concerns over the ousting of the country's president, officials said on Thursday evening at the summit taking place in Mendoza, Argentina.
Besides the Mercosur summit, the Argentine city of Mendoza will also be hosting on Friday an emergency meeting from the Union of South American nations to discuss Paraguayan president Fernando Lugo’s swift removal and replacement by a government which has triggered strong resistance in the continent.
The removal of Fernando Lugo from the Paraguayan Executive office was legal, said Brazilian former president and Senator Fernando Collor, quoted by O’Globo. He insisted there was “no coup”.
Argentina's government is sticking to its 5.1% growth forecast for 2012 enshrined in the budget, Economy Minister Hernan Lorenzino said on Thursday, despite recent data that shows a sharp deceleration.
Brazilian president Dilma Rousseff has unveiled a 115-billion-Reais (55 billion dollars) loan program aimed at reinforcing agriculture's role as a lever of Brazilian economic growth.
Ahead of a regional meeting on Paraguay, United Nations Secretary General Ban Ki-moon has called on all concerned to “work in the days ahead to ensure the peaceful resolution of differences” which led to the removal of the Paraguayan president.
Uruguay’s government is going forward with plans to build its first deepwater port along the Atlantic coastline in a place called “La Angostura”, an investment estimated in over 700 million dollars and which it wants to use as a platform to begin exporting iron-ore to China.
China and Chile upgraded their bilateral ties to a strategic partnership and expect to double trade in three years once the bilateral free trade area agreement is completed with investment related supplementary accords.
China has offered to set up a 10 billion dollars credit line for Latin American countries to support infrastructure projects in the region. The proposal was made by China's Premier Wen Jiabao as he wrapped up his visit to the region with a conference at the UN Economic Commission for Latin America and Caribbean, ECLAC, main offices in Santiago de Chile.
Barrick Gold Corporation the world’s largest producer of the metal can’t block Goldcorp Inc.’s 2010 acquisition of a majority stake in the El Morro copper and gold project in Chile.