The International Monetary Fund, IMF, Executive Board is scheduled to formally approve this Monday the second review of the three year stand by program with Argentina, which will open the way for a reimbursement of 3,1 billion US dollars to Argentina and other pending credits from the World Bank and the Interamerican Development Bank.
One of Buenos Aires most respected private financial consulting organizations is recommending given the strong fiscal situation of Argentina, the creation of a Counter cyclical fiscal fund to help restructure debt and invest in social development.
Brazilian Finance Minister Antonio Palocci criticized countries that spend their time insulting the International Monetary Fund.
Peruvian president Alejandro Toledo announced last week the purchase of four missile frigates Type Luppo offered by the Italian government.
Latinamerica is forecasted to expand 4% in 2004 according to Enrique Iglesias president of the Inter-American Development Bank, IDB.
Insecurity figures among the top two priority concerns of metropolitan Buenos Aires residents, according to surveys undertaken by two leading public opinion consulting firms last February.
Brazil will export electricity to Argentina in the coming months helping to overcome the expected winter shortages, confirmed visiting Brazilian Energy and Mining Minister Vilma Rouseff in Buenos Aires.
Argentina suspended this Thursday an electricity supply contract with neighbouring Uruguay forcing the local public utility company to turn on fossil fuel turbines with an additional monthly cost estimated in 10 million US dollars.
The organization that rules Internet for the Latinamerican region, Lacnic, will be meeting in Montevideo from March 29 to April first to review the functioning of the system with Latinamerica and Caribbean operators.
Headlines:
HMS Glasgow visits Punta Arenas; Next June Aerolineas begins operations in Chile.; Cape Horn cruise from Ushuaia.