Mercosur

• Thursday, June 19th 2003 - 21:00 UTC

  Brazil reduces basic interest rate.

  After two days of deliberations Brazil's Central Bank Monetary Policy Committee, COPOM, reduced the Selic basic interest rate half a point to 26%. The much expected announcement was interpreted as a clear signal that after almost a year of persistent steady prices, inflation had reached its inflexion point and has began a moderate slide.

• Thursday, June 19th 2003 - 21:00 UTC

  Mercosur target: single market by 2006.

  Under the undisputed leadership of Brazil and Argentina, Mercosur members, associate members Chile and Bolivia, and as special guest Venezuela, the South American trade block celebrated the XXIVth presidential summit in Asunción, Paraguay with the commitment to strengthen the political agenda and expand regional integration creating a genuine single market by 2006.

• Wednesday, June 18th 2003 - 21:00 UTC

  Mercosur takes a step towards free trade pact talks with India.

  Mercosur foreign ministers have signed the draft of a negotiating protocol they hope will eventually lead to a mutually beneficial free-trade pact between the South American trade bloc and India.

• Wednesday, June 18th 2003 - 21:00 UTC

  Brazilian president awarded Prince of Asturias prize

  Brazilian President Luiz Inacio Lula da Silva was named Wednesday as this year's winner of the Prince of Asturias Prize for International Cooperation, the latest individual to be honored by the Hispanic world's equivalent of the Nobels.

• Wednesday, June 18th 2003 - 21:00 UTC

  Breaking News.

  Headlines:
  FTAA timetable in doubt;
  Ample support for President Kirchner;
  Buenos Aires and Montevideo among the cheapest cities.

• Tuesday, June 17th 2003 - 21:00 UTC

  Crucial week for Brazilian markets

  Brazilian market analysts believe the country controversially high interest rates could have reached a peak and will begin dropping following this week's meeting of the Central Bank's Monetary Policy Committee, Copom.

• Tuesday, June 17th 2003 - 21:00 UTC

  Lula's “neo-liberal” administration.

  Brazil's ruling party president Jose Genoino strongly reacted to allegations from a group of economists who described Luiz Inacio da Silva administration's economic policies as “neo-liberal”, anathema for any middle of the road Latinamerican politician.

• Tuesday, June 17th 2003 - 21:00 UTC

  Fujimori promises he will return to Peru.

  Former Peruvian president Alberto Fujimori, currently exiled in Japan, reiterated he's preparing to return to Peru to conduct the presidential campaign that will take him to office again.

• Tuesday, June 17th 2003 - 21:00 UTC

  “We're closer to Rio than to Paris”

  Argentine Foreign Affairs Secretary Rafael Bielsa debut in the United Nations proved an excellent opportunity to have a closer insight of President Nestor Kirchner administration's objectives in foreign policy, particularly the new “strategic alliance” with Brazil.

• Monday, June 16th 2003 - 21:00 UTC

  Mercosur presidential summit.

  Asunción, the capital of Paraguay that currently holds the chair of Mercosur will be hosting a presidential summit this Wednesday to which Venezuelan President Hugo Chavez has also been invited.