Stories for December 2012
The Falkland Islands Government announced the completion of the booklet “Our Islands, Our History”. The booklet provides a succinct and accessible summary of the key aspects of the history of the Falkland Islands, and of the people whose determination and character have forged them to a democratic, prosperous and dynamic community.
Venezuela gave another step in its integration process as full member of Mercosur underlining recent achievements with its partners Argentina, Brazil and Uruguay but completely ignored Paraguay, the fourth full member currently suspended from the block.
Three days after Argentina’s ruling military junta seized the Falkland Islands in the South Atlantic (April 1982), the Prime Minister Margaret Thatcher called for an “urgent assessment” of Britain’s ability to defend Gibraltar, prompted in part by the “jubilant reaction” to the invasion in the Spanish press.
Argentina’s nationalized oil and gas company YPF announced on Friday that Pan American Energy, PAE, would be investing 3.4bn dollars in gas production in the next five years while Bridas, belonging to the Bulgheroni brothers said it plans to invest 1.5bn dollars in the development of the non conventional shale deposits in Vaca Muerta.
Spain has taken a step back with import restrictions on Argentina’s bio-diesel applied in a reprisal move after Argentine president Cristina Fernandez decided to seize control of energy company YPF, subsidiary of Spanish Repsol, earlier this year.
Brazil on Friday named its World Trade Organization envoy Roberto Azevedo to succeed Pascal Lamy as head of the Geneva-based trade oversight body. Brazil's ambassador to the WTO since 2008, Azevedo has been tackling the country's cotton subsidy dispute with the United States.
Brazil's central bank announced it would cut reserve requirements on demand deposits under specific conditions to free up around 15 billion Reais (7.3 billion dollars) for lending in a move aimed at boosting investment in the stagnating economy.
Brazilian President Dilma Rousseff, who survived lymphoma cancer in 2009, was pronounced healthy by doctors after a routine exam. Rousseff's health was within normal levels, according to a statement released by her office following the check-up at the Sirio-Libanes Hospital in Sao Paulo, one of South America's leading cancer treatment centers.
Uruguay’s Central bank raised its benchmark interest rate on Friday for the second time this year as policy makers struggle to bring inflation into the government’s target range. The IMF and local economists have warned about the need to “tackle inflation”, particularly since the budget’s fiscal deficit has soared in just twelve months from 0.4% of GDP to over 3% of GDP.
Argentina will be making a presentation before the US Court of Appeals for the second circuit, in Manhattan on Friday regarding Federal Judge Thomas Griesa recent ruling that Argentine defaulted bondholders must be paid simultaneously with those who accepted the restructured bonds.