Stories for January 17th 2013
The European Parliament regretted that negotiations for an association agreement between the European Union and Mercosur remain stalled or have hardly advanced since they officially resumed two years ago.
Private analysts lowered their forecasts for Uruguay’s GDP growth this year from an average of 4% in December to 3.86%, according to the latest monthly survey on economic expectations released by the Central Bank. Expectations for January ranged between 3.2% and 4%.
IMF Managing Director Christine Lagarde confirmed to the Argentine media that next February first the fund will be assessing her critical report on Argentine statistics, which could lead to sanctions for the country.
Uruguay’s economy is poised to grow 4% this year and in 2014, which is above the region’s average, according to the World Bank’s latest Global Economic Prospects issued this week. However Uruguay will be ranked twelfth in the growth ranking of Latinamerica this year but ahead of Brazil and Argentina with 3.4%.
The Brazilian currency and energy rate cuts will help tame inflation this year, allowing the Brazilian central bank to keep interest rates at a record low even as growth accelerates, said Treasury Secretary Arno Augustin.
Twenty one countries from South America and Africa strongly supported their commitment to keep the South Atlantic free of arms of massive destruction and expressed concern over the British military presence in the Falklands/Malvinas, which are claimed by Argentina.
The Brazilian central bank kept its benchmark interest rate at a record low for the second straight meeting, 7.25%, despite admitting inflation was a short term risk and economic recovery less intense than expected.
Four years after the onset of the global financial crisis, the worst appears to be over. However, the global economy remains fragile, as high-income countries continue to suffer from volatility and slow growth, says the World Bank’s latest Global Economic Prospects, issued on Wednesday.
In anticipation of the business opportunities the oil industry will bring to the Falkland Islands, a leading company has plans to build in the capital Stanley 26 two bedroom apartments in the form of an 80 metre long terrace on land were previously there were temporary housing and offices since removed.
British Prime Minister David Cameron came under renewed pressure to loosen his country's ties with the European Union today, two days ahead of a major speech in which he will spell out plans to renegotiate Britain's membership of the EU.