Stories for September 25th 2002

Wednesday, September 25th 2002 - 21:00 UTC

Fed keeps rates unchanged

The US Federal reserve decided this Tuesday to leave US interest rates unchanged at its lowest level in 41 years, but warned once again that the world's richest economy was at risk of further weakness particularly given “heightened political tensions”.

Wednesday, September 25th 2002 - 21:00 UTC

Chileans celebrate in Argentina

According to press reports over 20,000 tourists crossed to Argentina during Chile's two days national independence holiday, Wednesday 18th and Thursday 19th that many Chileans extended until last Sunday.

Wednesday, September 25th 2002 - 21:00 UTC

Financial storm in Brazil

With just two weeks to the presidential election that according to polls anticipates a possible clear victory in the first round of opposition candidate Luiz Inacio Lula da Silva the Brazilian currency is plummeting, financial markets are sliding and investors rejecting Brazilian bonds.

Wednesday, September 25th 2002 - 21:00 UTC

“Elections can be advanced”

Following the growing paralysis of his administration and with international credit totally non existent and the country in the verge of defaulting with multilateral organizations such as the IMF, Argentine president Eduardo Duhalde admitted to Brazilian television that “presidential elections scheduled for next March can be advanced for December or January”, but this depends on the Judiciary branch.

Wednesday, September 25th 2002 - 21:00 UTC

Markets for Argentine produce

Economy Nobel Prize winner Joseph Stiglitz in a long column published in the Financial Times said that Argentina needs the opening of foreign markets if the country is to recover its real economy.