Friday, June 21st 2002 - 21:00 UTC

Uruguay prepares for the worse

Two days after the International Monetary Fund, IMF, approved a massive support package, Uruguay announced the free flotation of its currency.

Uruguay, locked between its two powerful Mercosur partners, Argentina and Brazil, has been suffering the direct consequences of the regional financial instability, particularly when Argentines fearing a contagion flocked to withdraw deposits from Uruguayan banks.

Thursday, June 20th 2002 - 21:00 UTC

Mercosur openly supports Argentina's sovereignty claim over the Falklands in United Nations

The Special Committee on Decolonization of the United Nations adopted a draft resolution, presented by Chile, calling on Britain and Argentina to resume negotiations to find a peaceful resolution to the sovereignty dispute over the Falkland Islands/Malvinas. The resolution presented Wednesday morning in New York was sponsored by Chile, Bolivia, Cuba and Venezuela, and specifically supported by Mercosur.

Thursday, June 20th 2002 - 21:00 UTC

People's power

A delegation of Peruvian cabinet ministers and local elected officials from the city of Arequipa reached an agreement suspending the controversial privatization of public utilities that triggered a week of violent protests in the south of Peru.

Wednesday, June 19th 2002 - 21:00 UTC

G 7 Optimistic

Finance Ministers of the seven most industrialized countries, meeting in Halifax Canada, expressed confidence in the world's economic prospects, that they describer as “encouraging”.

The economies of the G 7, United States, Canada, Germany, Britain, Italy, France and Japan “have not ceased to strengthen and should continue to do so for the rest of the year”, said the official release after the meeting was over.

Wednesday, June 19th 2002 - 21:00 UTC

Inflation under control

United States and United Kingdom seem to have inflationary pressures under control diminishing prospects of an interest rate rise in the coming months.

Tuesday, June 18th 2002 - 21:00 UTC

World Bank vigilant

The World Bank is concerned about diminishing direct investments in Latinamerica that could have a negative impact in a continent already suffering from financial and political difficulties, according to the organization's head economist for the area, Guillermo Perry.

Monday, June 17th 2002 - 21:00 UTC

How to weaken a president

The IMF mission currently in Buenos Aires discussing the resumption of credit to Argentina increased demands regarding financial and banking reforms, while the Duhalde administration, limited in its political support, must also address growing differences between the Economy Ministry and the Central Bank.

Saturday, June 15th 2002 - 21:00 UTC

Financial scare in Brazil

Markets reacted positively to the measures announced on Thursday by the Brazilian government to help restore confidence among investors, although doubts about the long term capacity of the country to repay its foreign debt remain.

Thursday, June 13th 2002 - 21:00 UTC

Breaking News

Headlines: Chile moves ahead; ICU for the “agonizing patient”; Tough negotiation ahead; G7 to press Argentina and the IMF.

Wednesday, June 12th 2002 - 21:00 UTC

Death of Peruvian statesman ?Belaunde Terry

Fernando Belaunde Terry, twice President of Peru, has died , aged 88. Here is an appraisal of the man and his contribution to Peruvian politics by Mercopress Correspondent Harold Briley, who knew him personally.


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