Brazil’s Central Bank believes it is better for the country to hold its own foreign exchange reserves than to rely on credit lines from international institutions such as the International Monetary Fund.
Argentina will offer 9.5% dollar bonds due in 2017 in its plan to restructure 20 billion USD in defaulted debt, Ambito Financiero newspaper reported Tuesday. The bonds will be issued to compensate for past-due interest and the most recent past-due payment on warrants linked to economic growth, the Buenos Aires newspaper said.
Argentina’s renowned ballet dancer Julio Bocca has been named by Uruguayan president Jose Mujica as the new director of the official Sodre Performances and Dance Company.
After two editions in South America, the organizers of the Dakar announced from Paris that the world’s leading rally-raid will take place again in Argentina and Chile in 2011.
Argentine president Cristina Fernandez de Kirchner thanked Peru for the military support and having made available aircraft, missiles and pilots in the conflict with Britain over the Falkland Islands back in 1982.
“The visit of President Cristina Kirchner and the re-launching of ties with Peru is strategic for Argentina: Peru is a very important country in South America and a historic ally of Argentina”, said Argentine Foreign Affairs minister Jorge Taiana following the signature of thirteen bilateral accords at Government House in Lima.
Argentina and Peru put an end this week to sixteen years of “cold relations” with official apologies and a historic reparation from visiting President Cristina Fernandez de Kirchner who also signed with her peer Alan García a Strategic Association bilateral agreement.
Spain’s economic crisis had devastating effects on the quality of life of the population during 2009. According to a damning survey on living conditions in the country published by the National Statistics Institute (Instituto Nacional de Estadisticas) 13.7% of households in Spain had “great difficulty” in making ends meet at the end of each month.
Lower prices of toys and games have contributed to a fall in the UK's headline rate of inflation to 3% - closer to the Bank of England's 2% target. The Consumer Prices Index (CPI) fell to 3% in February from 3.5% in January, new figures from the Office of National Statistics (ONS) show.
With many Chilean companies using the ‘Fuerza Mayor’ clause to terminate contracts with their workers in the wake of the February 27 earthquake, Chile’s government this week announced creation of 13,000 new emergency jobs for the most devastated zones and the creation of special loans for the most damaged companies.