Unemployment in Chile during the June-August quarter dropped slightly (0,1%) to 9,6% compared to a year ago, but actually increased 0,2% over the previous quarter.
Following currency devaluations and recession in Mercosur member countries, Chile has become the most expensive country in US dollars of the region. This means that countries once considered expensive have now become a bargain.
Chilean president Ricardo Lagos is in an uncomfortable situation following the disclosure that the Air Force Commander, General Patricio Ríos, allegedly had knowledge of the resurgence of a Joint Command extremist group, closely linked to the force and involving the wife of another Air Force general, but did not report it.
The Italian Parliament unanimously approved an all party resolution in support of Argentina promising to promote specific initiatives in the European Union and internationally.
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.
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.
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.
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.
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.
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.