Argentina and Brazil strongly questioned the IMF generalized “excess of pessimism” because of a slowing down in emerging economies but also underlined that these countries have the sufficient ‘training’ and recent experience to confront the new challenges.
The Argentine Foreign ministry denied on Friday it had given a two-day ultimatum to Uruguay to suspend the decision allowing the controversial Botnia/UPM pulp mill a production expansion and also demanded an immediate return to bilateral negotiations.
Argentina’s “Congress” Consumer Price Index which is an average of private consultants and is released by opposition lawmakers, showed that inflation in September increased 2.11%, the highest September since 1991, accumulating 25.44% in the last twelve months.
Brazil said on Thursday it will start work early next year on a new Antarctic base to replace the one gutted by a 2012 fire. The new station would be modern and built with more resistant material, Navy Admiral Julio Soares de Moura told reporters as he unveiled the 54 million dollar project.
“Only God sets an ultimatum” said Uruguay’s President José Mujica in a laconic reply to Argentine Foreign Minister Hector Timerman demand (and countdown) to return to negotiations regarding the UPM pulp plant and Montevideo’s decision to allow an increase in production.
Argentine President Cristina Fernández is “improving favourably” and “controls were satisfactory” according to Thursday’s daily medical report on the patient who last Tuesday underwent surgery to have a subdural haematoma removed at the Fundacion Favaloro Institute in Buenos Aires.
Argentine billionaire Eduardo Eurnekian announced that his company Corporation America continues to work with government controlled oil company YPF “to develop projects” which could involve a 500 million dollars investment in the country’s rich shale deposits.
Argentina will offer 500 million dollars in sovereign bonds to resolve disputes with corporations at a World Bank arbitration panel, a financial daily newspaper reported on Thursday.
Argentina will grow at an enviable rate compared to other countries in the region, Chief Economist for the World Bank’s Latin America and Caribbean Office Augusto de la Torre said this week, commenting on the institution’s projections for next year.
The Argentine government and the World Bank agreed on Thursday in Washington on a new Strategic Partnership involving an estimated 3 billion dollars in the next three years which will concentrate on loans for education, health care and rural development.