The Organization of American States (OAS) agreed on Wednesday to dispatch of a mission to Paraguay to accompany and observe the electoral process in the country that will conclude with the general elections of April 21, 2013.
“We must prepare for war to live in peace” said Paraguay’s Defence minister Maria Liz Garcia in reference to the new geopolitical situation following the suspension of Paraguay as a member of Mercosur and Unasur.
Three Argentine economists, particularly close to the government of President Cristina Fernandez have admitted that the Argentine Peso is overvalued and is causing problems for non commodity exports which need to be addressed.
The US Congress budget office launched on Wednesday a stern warning: massive spending cuts and tax hikes due next year will cause even worse economic damage than previously thought if Washington fails to come up with a solution.
The Federal Reserve is likely to deliver another round of monetary stimulus “fairly soon” unless the economy improves considerably, minutes from the US central bank's August meeting show.
Russia's formally joined on Wednesday 22 August the World Trade Organization after having waited for 18 years. On July 21, President Vladimir Putin signed the final accession document approved by all WTO countries, a final step clearing the way for Wednesday’s formal entry.
The Atlanta based Carter Centre said this week that it declined an invitation from Venezuela's National Electoral Council to have a team at the country's Oct. 7 presidential election. The Centre said it received the invitation too late ”to evaluate it and organize the necessary experts and financing”.
Forbes magazine ranked German Chancellor Angela Merkel the most powerful woman in the world for the second year in a row in the annual list dominated by politicians, businesswomen and media figures. US Secretary of State Hillary Clinton placed second, followed by Brazilian President Dilma Rousseff, making the top three spots unchanged from last year.
Some 130 billion dollars will be invested in Venezuela's Orinoco Oil Belt between 2013 and 2019 to boost national production from 3 million barrels per day to 6 million bpd, President Hugo Chavez announced on Tuesday evening.
Venezuela, the latest entry as full member of Mercosur has the cheapest petrol price in the world, 8 pennies per liter, (1 £ trading at 1.59 dollars on 22 August) according to the latest report from UK website, “This is money”, based on a research from Evans Halshaw.