Argentina has cut 461 million dollars in annual tax breaks granted as investment incentives to big oil companies operating in the country, the government said on Friday, as part of a wider austerity program.
International Monetary Fund should proceed with talks on increasing the size of its war-chest at the same time as Europe discusses how to build a firewall to contain its debt crisis, a senior official from the fund said on Friday.
China's Premier Wen Jiabao said on Friday the Asian giant had neither the ability nor the intention to buy Europe, amid concerns over growing Chinese investment in debt-stricken Euro zone economies.
The US economy created jobs at the fastest pace in nine months in January and the unemployment rate dropped to a near three-year low of 8.3%, indicating last quarter's growth carried into early 2012.
The growth of US government debt relative to GDP is clearly unsustainable, Federal Reserve Chairman Ben Bernanke said in a congressional testimony.
Uruguay's inflation rate rose in January 0.74% from December as housing, hotel and restaurant prices jumped, the national statistics agency, INE, reported this week. The consumer price index rose 8.05% on the year at the end of January, INE said.
Argentina’s flag carrier ended the last twelve months with a drop in the number of passengers transported, totalling 6.017.886, which is 5.97% less than in 2010. However income from the sale of tickets reached 1.334 billion dollars, which is 14% higher, according to the latest numbers available.
Brazilian Secretary of Foreign Trade Tatiana Prazeres will be travelling to Buenos Aires next Monday to address with Argentine counterparts the extent of the last set of measures implemented by the administration of President Cristina Fernandez to slow down the flow of imports.
Argentine President Cristina Fernández ruled out that the Government is planning to set a ceiling on this year’s collective bargaining and said that unions must “carry on with their salary negotiations freely by taking corporate profit into account.” She announced, however, the creation of a committee in order to follow them closely.
The Brazilian government expressed concerns over the new Argentine trade barriers going in effect on Wednesday and informed that it would “evaluate its impact and legality” before making any decisions, Foreign Trade secretary Tatiana Prazeres announced.