Chilean diplomacy has been active preparing for the next G-20 meeting in Mexico which it plans to attend as a “special guest”, but also because the future could hold an even greater prize if Argentina’s erratic behaviour finally is no longer acceptable for the rest of the group’s members.
Latin American independent oil and gas explorer GeoPark Holdings Ltd is planning a major expansion of its activities in 19 licensed blocks in three countries with the purpose of significantly increasing oil and gas production in the next 18 months, according to a report released by the company.
The state, not banks, are to fund higher education scholarships through the creation of a new specialized government agency, Chile’s Education minister, Harald Beyer, announced in a press conference at La Moneda on Monday.
As has happened with other leading world opinion makers such as the Financial Times and The Wall Street Journal, that have condemned the seizure by the administration of President Cristina Fernandez of a majority share in the Spanish Repsol owned YPF, The Washington Post has also been extremely critical of the Argentine leader.
Uruguay growth estimate has been downed for 2012 while prices will be higher, according to the latest IMF World Economic Outlook released on Tuesday. The economy is set to grow 3.5% down from 4.2% while prices will climb to 7.4% compared to the 6.5% estimate of the previous WEO last September.
The Chilean government reacted with concern at the announcement by Argentina of a bill to expropriate 51% of the oil company YPF from Spain’s Repsol, since this will have a direct impact for Chile, said on Monday evening the Executive Secretary General Andres Chadwick.
Widely perceived to be the most developed and financially stable nation in South America, Chile is, for the most part, unaccustomed to critical analyses from the international press.
In the first quarter of this year, 1.2 million foreign tourists arrived in Chile, which represents a 14% increase over the same period a year ago, reported the Under Secretary of Tourism Jacqueline Plass.
The Chilean political system reacted angrily and demanded official apologies from the Argentine government following statements from former General Mario Menendez who said “Chileans behaved as pigs during the Malvinas war” three decades ago.
The former military governor of the Malvinas Islands during the Argentine occupation said that the negative outcome of the war for Argentina can only be attributed to “negligence and improvisation”.