Stories for November 3rd 2012
IMF top marks for Uruguay’s economy but beware of inflation and wage indexation
An International Monetary Fund (IMF) mission headed by Ulric Erickson von Allmen visited Uruguay from October 22 to November 2 to conduct the country’s annual Article IV consultation. At the conclusion of the visit, Mr. Erickson von Allmen division chief in the IMF’s Western Hemisphere Department issued the following statement in Montevideo:
South African minister admits a second Argentine navy vessel could be impounded
When Argentina still has not recovered from the impounding of the Navy’s flagship, ARA Libertad, retained in Ghana, another piece of bad news was confirmed in Pretoria on Friday when South African Foreign minister admitted that a second navy vessel, ARA Espora, docked in Simonstown was exposed to a similar fate.
Bank of England governance ‘defective’ with ‘centralized and hierarchical’ structure
Governance of the Bank of England is “defective”, according to the chairman of the Treasury Committee following the publication of three independent reviews into the Bank's performance. Andrew Tyrie said the reviews were too little, too late.
Peru reminds Argentina Shinning Path terrorists are an illegal group
Peru slammed reports that Movadef, the nascent political wing of the Shining Path armed group, had met with representatives of human rights groups in Argentina, including the Mothers of Plaza de Mayo Association, with the aim of gaining political credibility.
Peru considers rescuing debt to cool inflow of capital and currency appreciation
Peru is considering the anticipated cancelling of public debt to drain ‘dollars’ from the market and impede the sustained appreciation of the local currency, Sol, said Economy minister Luis Castilla. This would be the first step for a new liabilities management approach to extend in time the maturing of Peruvian bonds and other debt papers.
