Stories for December 2007

Wednesday, December 12th 2007 - 20:00 UTC
IMF chief suggests Argentina pays Paris Club “in one shot”

The International Monetary Fund hopes Argentina and the Paris Club will reach a repayment deal on 6.3 billion US dollars in defaulted debt without the IMF involvement, said the IMF managing director.
Tuesday, December 11th 2007 - 20:00 UTC
Celebrating Law of the Sea UN calls for oceans protection

Marking the twenty-fifth anniversary of the opening for signature of the United Nations Convention on the Law of the Sea, the Deputy Secretary-General called on States to work together to protect the marine environment which is under increasing pressure from human activities.
Tuesday, December 11th 2007 - 20:00 UTC
China and US begin round of trade and currency talks

United States and China have played down their differences ahead of a series of high-level trade talks taking place this week in Beijing. China's product safety record, its massive trade surplus and what some in Washington see as Beijing's currency manipulation are high on the agenda.
Tuesday, December 11th 2007 - 20:00 UTC
Fleming Glacier in Antarctica shows signs of receding

Scientists from Chile's Center of Scientific Studies (CECS), Antarctic Chilean Institute, and Air Force reported last week that Fleming Glacier, located in the Antarctic Peninsula, is showing signs of receding.
Tuesday, December 11th 2007 - 20:00 UTC
Former Peruvian president trial on recess 'til Wednesday

Peru's former president Alberto Fujimori angrily shouted his innocence at the start of his trial Monday on accusations of murder and kidnapping stemming from a 1990s “dirty war” against communist rebels. However the presiding judge called a recess until Wednesday after he was diagnosed high blood pressure.
Tuesday, December 11th 2007 - 20:00 UTC
A bank born out of disenchantment with multilateral financing

Leaders of several South American nations have signed a founding document to create a new body, the Banco del Sur, as an alternative to multilateral credit organizations such as the International Monetary Fund and World Bank.
Tuesday, December 11th 2007 - 20:00 UTC
Three cruise vessels stranded at blocked Montevideo port

The port of Montevideo remained closed on Tuesday to all vessels with a plus five meters draught following a collision on Monday afternoon, in the access channel to Uruguay's main sea terminal, between a cruise vessel carrying some 1.700 passengers and a barge loaded with containers.
Tuesday, December 11th 2007 - 20:00 UTC
Fearing a slowdown the Federal Reserve cut rates to 4.25%

As anticipated by markets and concerned with slower economic growth and softer business and consumer spending the United States Federal Reserve cut on Tuesday the basic interest rate 25 points to 4.25%.
Tuesday, December 11th 2007 - 20:00 UTC
Uruguay on pace to the fifth running year of growth

Uruguay's economy expanded 6.7% during the first nine months of 2007 compared to the same period last year, driven by the transportation and communications sectors, the Central Bank reported on Monday.
Tuesday, December 11th 2007 - 20:00 UTC
Brazilian beef exports booming in spite of EU ban threat

Beef exports are likely to rise in 2008 as Russia resumes importing meat from Brazil, the Brazilian Beef Exporters Association (Abiec) said in Sao Paulo.