Argentina April inflation 23.67% in 12 months; partial prices-freeze to continue until October election
Argentina’s inflation in April was 1.52% and 23.67% in the last twelve months according to the so called Congress index which is calculated by private agencies and was released on Tuesday.
Spain’s Foreign Affairs Minister José Manuel García Margallo said the Spanish government is no longer “discussing” Argentina’s “sovereign decision to seek energy sectors’ control.” “It could seem to me a mistake, but it is the responsibility” of the Argentine government, García Margallo stated.
An Argentine appeals court threw out the fines that Domestic Trade Secretary Guillermo Moreno had slapped on private firms that issued inflation estimates that were much higher than the government’s official rate.
Trading of the ‘blue’ or parallel dollar in Argentina remained flat on Monday for a second day following last week’s events when the 10 Pesos barrier was broken and the government reacted with a tax amnesty or whitewashing draft bill promising all dollar assets holders a new clean record and no questions asked if they turn their greenbacks into government bonds or promissory notes.
Argentina is negotiating with China a new 10 billon dollars equivalent swap of international reserves support based on the experience of 2009 when the global financial crisis. The new accord should theoretically help Argentina strengthen its international position vis-à-vis the run on the dollar (or the flight from the Peso) and which has cost the Central bank 4 billion dollars so far this year.
Visiting Chinese Vice-president Li Yuanchao expressed on Friday “full support for Argentina’s sovereign claims over the Malvinas Islands” while his Argentine peer, Amado Boudou matched his words ratifying the ‘one China’ policy.
Venezuelan President Nicolas Maduro got strong backing from regional heavyweight Brazil on a tour of Mercosur allies to cement his legitimacy as political heir to the late Hugo Chavez.
News this week that Argentina had decided to undertake fisheries research in the South Georgia and South Sandwich Islands (SGSSI) is not connected in any way to the Falklands, Acting Governor Sandra Tyler-Haywood has assured.
The Isle of Man concluded a Tax Information Exchange Agreement with Argentina on 14 December 2012 and on January this year the Embassy in London confirmed that Argentina had completed its ratification procedures in relation to the agreement.
China is determined to advance in mutually beneficial cooperation with Argentina visiting Chinese Vice President Li Yuanchao said on his arrival on Thursday to Buenos Aires. He underlined that the new Chinese leadership will continue to perceive and develop bilateral relations from a long-term strategic perspective.