Brazil has withdrawn its offer to host a large U.N. conference on climate change next year, the foreign ministry said on Wednesday, leading environmental groups to question the government's commitment to reducing carbon emissions.
Labor unions and social groups blocked streets in downtown Buenos Aires on Wednesday, with more marches planned over the days ahead over austerity measures proposed by the government and backed by the International Monetary Fund. Protesters are angry about the belt-tightening policies, which are cutting services to low-income Argentines already walloped by inflation of 31 percent and climbing.
Uruguay's fiscal deficit climbed to 3.2% of GDP during March, the highest since October 2003, --equivalent to 1.69 billion dollars--, but Economy minister Mario Bergara said that there is no risk for the sustainability of public accounts or sustainability of current macroeconomic policies.
Uruguay’s fiscal deficit increased 0.7 percentage points of GDP in April reaching 1.6% of GDP in the accumulated twelve months, reports the Ministry of Economy and Finance. The 1.6% of GDP is the fiscal budget deficit target established by the government for the whole of 2011, which was recently increased.
Uruguay’s fiscal deficit in February increased GDP 0.3 percentage points over the previous month and reached 1.4% of GDP according to the Economy Ministry. In nominal terms the overall public sector deficit (including regional governments and the National Insurance bank) was 453 million US dollars, 20% higher than in January.