The Euro zone slipped deeper into recession in the last three months of 2012 after its largest economies, Germany and France, shrank markedly at the end of the year. It marked the bloc's first full year in which no quarter produced growth, extending back to 1995.
The finance ministers of the G20 group of nations are meeting in Moscow amid concerns that major trading powers may be heading towards a currency war. Japan's monetary stance has seen a big decline in the Yen, while the Euro has risen against a basket of currencies.
Fitch ratings has lowered Argentina, Venezuela and El Salvador credit and growth prospects to negative, while for the rest of Latinamerica the situation remains stable, according to a seminar in Frankfort, on “Latinamerica opportunities and challenges”.
The good news for the Chinese leadership is that their fiscal policies have paid off, producing both the world's second largest economy and the globe's leading creditor nation in less than a generation.
A Youth Orchestra from Uruguay which performed in the Hall of the Americas at the headquarters of the Organization of American States (OAS) in Washington DC received a standing ovation.
UK joined the group of countries that vote against granting multilateral organizations’ loans to Argentina as a form of protesting the mistrust generated by the government of President Cristina Fernandez recurrent international misconduct, reports the Buenos Aires media.
Argentina’s inflation last January was the highest in twenty two months, 2.58%, according to the average of private estimates which are banned from making public their findings, but which are released by the Congressional Freedom of Expression Committee.
A New York federal appeals court has agreed to hear from more parties potentially affected by its review of a decision requiring Argentina to pay 1.33 billion dollars to bondholders who did not participate in two debt restructurings.
By Vicente Palermo (*)
The international resolutions which Argentina appeals to support its claim over the Falklands/Malvinas Islands are not definitive on the sovereignty issue, and do not ignore the rights of the Falkland Islanders, argues an Argentine scientific researcher and member of the Argentine Political Club who published an opinion article in Buenos Aires daily Clarin.
The International Association of Antarctica Tour Operators (IAATO) announced on Wednesday a restructuring of its Secretariat, re-establishing the post of Executive Director, with Dr. Kim Crosbie named to the position.