Bolivian president Evo Morales clearly took distance from Argentina’s expropriation of YPF, the Argentine affiliate of Spain’s Repsol which was announced on Monday and caused a major rift between Argentina and Spain and the European Commission.
Uruguay growth estimate has been downed for 2012 while prices will be higher, according to the latest IMF World Economic Outlook released on Tuesday. The economy is set to grow 3.5% down from 4.2% while prices will climb to 7.4% compared to the 6.5% estimate of the previous WEO last September.
Mexican president Felipe Calderón and G-20 group head, said that Argentina’s plan to seize a majority stake in Repsol’s Argentine branch YPF is “very regrettable” and called on President Cristina Fernandez to reconsider and rectify the decision.
Argentine president Cristina Fernandez received late Monday the first international support for her announced takeover of YPF from the Spanish corporation Repsol: the Venezuelan government and President Hugo Chavez, revealed the Foreign Affairs ministry.
The Chilean government reacted with concern at the announcement by Argentina of a bill to expropriate 51% of the oil company YPF from Spain’s Repsol, since this will have a direct impact for Chile, said on Monday evening the Executive Secretary General Andres Chadwick.
The US-Colombia free trade agreement will enter into force next month, far earlier than expected, as a result of what the Obama administration called historic progress for Colombian worker protections and human rights.
US nominee Jim Yong Kim has been chosen as the new president of the World Bank. The Korean-American health expert, president of Dartmouth College faced a strong challenge for the post, which has traditionally gone to an American, from Nigerian Finance Minister Ngozi Okonjo-Iweala.
Argentine President Cristina Fernández de Kirchner sent to Congress a draft bill to expropriate Spain’s Repsol’s holdings of YPF oil and gas company. The announcement was made on Monday at the Government House during a sudden meeting with officials, political leaders, unionists and businessmen.
Unprecedented Latin American opposition to US sanctions on Cuba left President Barack Obama isolated at a summit on Sunday and illustrated Washington's challenged influence in a region being aggressively courted by China.
President Barack Obama pressed on US policy toward Cuba by other leaders from the Americas, on Sunday voiced hope for a transition to democracy in the region's only one-party system state.