Freight truckers and customs’ brokers’ staff paralyzed the Buenos Aires port five terminals for a second day running to protest restrictions on import trade recently implemented, which has caused a collapse in port activities and thus jobs.
Argentine President Cristina Fernández minimized Spain’s decision to reduce the bio-diesel imports as a retaliation over the expropriation of YPF and called for “calm” after assuring that Argentina “is in condition to absorb” that production in the domestic market.
Brazilian Finance minister Guido Mantega said on Friday that IMF Managing Director Christine Lagarde makes a mistake in recommending emerging countries not to intervene in the money exchange markets to counter the strong devaluation of currencies from the rich countries.
A new strain of Foot and Mouth Disease, known as SAT2, has broken out in Egypt and is threatening to spread to other areas of northern Africa and the Middle East.
The US government considers Argentine is obliged to submit its economic statistics to be validated by the IMF, and Washington will support all efforts from the multilateral organization so that the objective can be achieved.
Argentina's move to nationalize local oil company YPF, controlled by Spain's Repsol, was strongly criticized by the World Bank president Robert Zoellick and French Foreign Minister Alain Juppé.
Brazil lowered its benchmark interest rate to a near-historic low of 9% on Wednesday, as expected, but the central bank surprised with hints that more cuts may follow to revive Latin America's largest economy.
Colombia has sent a letter to the World Trade Organization protesting Argentina's import restrictions on its products, the government announced Wednesday.
Argentina accused Spain's Repsol oil company on Tuesday of hiding the true value of its Argentine YPF unit and said a thorough review of its books after seizing control of its offices will affect the compensation paid to its shareholders.
Fitch Ratings has placed Repsol YPF, SA's ratings on Rating Watch Negative (RWN) following news that YPF takeover has been set in motion by the Argentine government.