Argentine ambassador in the United States Jorge Argüello assured that Argentina and the US “are having the best trade relationship in almost 200 years of bilateral relations” and said that “they’ve never had a trade volume similar to the one reached this year, which left a 13 billion dollar surplus.”
Argentine former Economy Minister Roberto Lavagna considered the “economic model” led by President Cristina Fernandez administration is entering “a clear downfall” and slammed Kirchnerite politicians, unionists and businessmen “for, out of fear, clapping at political rallies instead of saying what they really believe about the economy”.
The International Monetary Fund is set to cut its forecast for global growth next month when it updates its projections for the world economy, the head of the IMF said.
Poverty in Argentina is at least three times the official figure presented by the controversial government stats office, Indec, if the criteria and methodology applied by the Argentine Catholic University Social Debt Barometer are taken into account.
IMF Managing Director Christine Lagarde warned Argentina on Monday that the multilateral lender is willing to show it a red card if by December the government of Cristina Fernández does not meet its promises of providing reliable inflation and GDP statistics, during a conference at the Peterson Institute in Washington DC.
German business sentiment dropped for a fifth straight month in September to its lowest since early 2010, raising fears of recession and underlining that a bold bond-buying plan laid out by the European Central Bank is no economic blessing.
Chilean Under Secretary for Tourism Jacqueline Plass said that in the first eight months of the year the number of arriving international tourists increased 16%, while August became the arrivals record month since 1988.
Korea’s Hyundai Motor is expanding its presence in Africa and Brazil, two of the several automobile markets with mammoth growth potential by diversifying export models. While the largest carmaker in Korea is making the most of its manufacturing factory in India it launched regular operation of its Brazilian factory over the weekend.
The Argentine opposition strongly criticized the budget bill sent to Congress and questioned the real growth of the economy during the current year, wondering who are the real holders of sovereign bonds tied to GDP growth maturing later this year.
The Argentine economy remained flat in the second quarter of the year compared to the same time period of 2011, the poorest performance in three years, according to the national statistics office Indec.