Mercosur

Mercosur
Monday, September 30th 2002 - 21:00 UTC

“Unprecedented crisis”

Argentine is suffering an unprecedented crisis and will end 2002 with a 16% drop in the country's Gross Domestic Product, GDP, according to the IMF report “World Economic Prospects” released during this year's annual assembly in Washington.

Monday, September 30th 2002 - 21:00 UTC

48 million Euros for Mercosur

The European Commission will invest 48 million Euros to strengthen Mercosur in the framework of a program targeted to help build the home market, reinvigorate democratic institutions and the participation of the civil society.

Monday, September 30th 2002 - 21:00 UTC

G 7 forecasts growth improvement

The Group of Seven, G7, of industrialized nations said in Washington it was committed to accelerate global economic growth in the coming months, in spite of some lingering risks.

Monday, September 30th 2002 - 21:00 UTC

Mercosur, Lula's priority

Luiz Inacio Lula da Silva, Brazil's almost certain next president wrote in a column in an Argentine newspaper that Mercosur will be his administration's foreign policy priority if he's elected next October 6th.

Wednesday, September 25th 2002 - 21:00 UTC

Fed keeps rates unchanged

The US Federal reserve decided this Tuesday to leave US interest rates unchanged at its lowest level in 41 years, but warned once again that the world's richest economy was at risk of further weakness particularly given “heightened political tensions”.

Wednesday, September 25th 2002 - 21:00 UTC

Chileans celebrate in Argentina

According to press reports over 20,000 tourists crossed to Argentina during Chile's two days national independence holiday, Wednesday 18th and Thursday 19th that many Chileans extended until last Sunday.

Wednesday, September 25th 2002 - 21:00 UTC

Financial storm in Brazil

With just two weeks to the presidential election that according to polls anticipates a possible clear victory in the first round of opposition candidate Luiz Inacio Lula da Silva the Brazilian currency is plummeting, financial markets are sliding and investors rejecting Brazilian bonds.

Wednesday, September 25th 2002 - 21:00 UTC

“Elections can be advanced”

Following the growing paralysis of his administration and with international credit totally non existent and the country in the verge of defaulting with multilateral organizations such as the IMF, Argentine president Eduardo Duhalde admitted to Brazilian television that “presidential elections scheduled for next March can be advanced for December or January”, but this depends on the Judiciary branch.

Wednesday, September 25th 2002 - 21:00 UTC

Markets for Argentine produce

Economy Nobel Prize winner Joseph Stiglitz in a long column published in the Financial Times said that Argentina needs the opening of foreign markets if the country is to recover its real economy.

Tuesday, September 24th 2002 - 21:00 UTC

Sheep are coming back in Patagonia

Following the devaluation of the Argentine currency and the strong world market for wool and lamb, Patagonia sheep farmers are again enthusiastic and timidly beginning to invest.

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