Argentine Central Bank Governor Mercedes Marcó del Pont assured on Wednesday that the flight of dollar deposits from the local financial system has slowed down and highlighted the fact that Government’s policy of regulated exchange rate has given “certainty” to savers and investors. She also forecasted 6% growth next year for the Argentine economy.
Argentina’s new cabinet chief and former Media Secretary of the Executive, Juan Manuel Abal Medina, 43, besides his own proven merits carries an illustrious name in the Peronist nomenclature.
Hernán Lorenzino, 39, currently Finance Secretary and beginning next Saturday Argentina’s Minister of Economy is considered market friendly, has a vast experience in debt negotiations and accompanied President Cristina Fernandez in her recent trip to the G20 summit in France.
The UK has protested to Argentina over its interception of Falkland Islands-licensed fishing boats, mainly Spanish in disputed South Atlantic waters and in the River Plate when they approach the port of Montevideo.
The Argentine government unveiled on Tuesday the list of the new cabinet members for President Cristina Fernández second mandate which will start next Saturday when she takes the oath of office. The initial reactions were positive both in the political system and from markets.
The newly appointed Argentine Lower House president, Julián Domínguez, in a conciliatory message assured on Tuesday that “plurality is guaranteed in Congress” and called for “everyone’s political commitment to guarantee everybody’s interests.”
Brazil is going through a wind power boom as production prices fall and government incentives attract a growing number of foreign suppliers. The wind power sector has a current capacity of around 1,400 megawatts, and is expected to grow nearly eight-fold by 2014, according to the Brazilian Association of Wind Energy ABEEolica.
Argentine Vice-president Julio Cobos confirmed that he will be part of the swearing-in ceremony of re-elected president Cristina Fernández, and that he is “ready to face any uncomfortable situation that may happen.”
Uruguay’s Vice-president Danilo Astori blasted Argentina’s protectionist and foreign exchange policies because they damage Mercosur, which is currently living its “worst possible moment”.
THE third of a planned series of extended political articles written exclusively for the Penguin News web site by Deputy Editor John Fowler. John is a former Superintendent of Education and a former Manager of the Falkland Islands Tourist Board.