MercoPress. South Atlantic News Agency
Argentina achieves 12-month trade surplus target in August with 10.04bn dollars
Argentina's trade surplus rose to 1.64 billion dollars in August, more than double the surplus in the same month a year ago achieving the twelve months target four months ahead, President Cristina Fernandez announced on Thursday. Read full article
Comments
Disclaimer & comment ruleslol, so Cristina's cash on hand increases, so she can stay in power....while Argentina's revenue PLUMMETS! Terrible news for Argentina, but great news for Cristina, lol, typical Argentine corruption
Sep 07th, 2012 - 04:19 am - Link - Report abuse 0Well if we do not like her,we kick her out.That is democracy.Better concentrate in the very CORRUPT tory gov in uk.......many brittons are leaving uk..they are fed up
Sep 07th, 2012 - 05:43 am - Link - Report abuse 02 Malvinero1
Sep 07th, 2012 - 06:56 am - Link - Report abuse 0Oh please wake up!!!! NO ONE likes her, her government is probably re-writing the constitution right now to say that she can hang on to power for as long as she likes.
When it comes to the next election, La Campora will be out in force, buying votes for her or, as I suspect will happen, thanks to them, she will be “re-elect through ballot box intimidation”
If you tell us that you like her, you are a liar and if you think that you can vote her out of power then you are an idiot as well.
Don't try and change the subject, we all KNOW that Came-moron and his little bitch Nick Clegg are corrupt. The difference is that we know that AND we can do something about it.
YOU are helpless. Your country is being dragged down a very deep, dark hole AND you are blind to it!!! you are cheering her on while she steals from you and steers your country right back into the dark ages.
Still, you gotta laff innit?
If Argentina is so flush with cash - if Kretina isn't lying through her teeth as usual - then it's way past time to pay off their debts to the rest of the world. How much? 10 billion should just about do it. Thieving bloody skites!!
Sep 07th, 2012 - 09:17 am - Link - Report abuse 0Wonderful figures - from Indec?
Sep 07th, 2012 - 10:23 am - Link - Report abuse 0The fact that Argentina has more international trade disputes running than any other country and is the World's top protectionist country will come home to bite their economy where it hurts.
As the dollars run out and as Argentina is regarded a s a pariah state by international money lenders the Peso will have to be devalued (again) and the people of Argentina will be fleeced.
Keep up the good work CFK - cheque in the post.
@4 Afraid that US$10 billion isn't anywhere near enough. They need at least another US$70 billion plus interest. And I mean interest they have to pay. They need to keep this rate of monthly surplus going for at least the next six years. Provided they don't spend any of it!
Sep 07th, 2012 - 10:59 am - Link - Report abuse 0I don't think Cameron and Clegg are corrupt in the legal sense of the word. If they were they would face the full force of the law in the UK. Even worse, the full wrath of Daily Mail readers. Disagreeing with government policy is perfectly acceptable in the UK and we are at liberty to say so. Our free press may not be to everyone's taste but they fulfil their role to scrutinise the government.
Sep 07th, 2012 - 11:47 am - Link - Report abuse 0Argentina is completely different. What CFKC and her government does is corrupt in every sense of the word. The press is harassed and anyone expressing a negative opinion is dealt with by Maximo's thugs. The country is run by a megalomanic monster.
A government afraid of its citizens is a democracy. Citizens afraid of government is tyranny.
I do not know what they are boosting about. How hard can it be when you close off imports and sell soy? They exports will start showing the effects of of closed imports
Sep 07th, 2012 - 11:48 am - Link - Report abuse 0A little while ago the Rgs were crowing that the drought in the USA was going to be a boon for their country...I think they may have counted a few chickens early since they have 10 MILLION HECTARES of farmland under water in BA Province. Kinda hard to plant Soy under water.,,,
Sep 07th, 2012 - 11:52 am - Link - Report abuse 0The soy that will seel at these prices are on the futures. Most of their harvested soy was sold last year. These prices are for the next crop to harvest.
Sep 07th, 2012 - 12:59 pm - Link - Report abuse 0When all of this import restriction nonsense started Moreno ( I think) was quoted as saying they need U$10B surplus AT A MINIMUM or all was lost. Seems funny they hit it right on the head and not a penny to spare. I wonder who is really counting?
Sep 07th, 2012 - 01:04 pm - Link - Report abuse 0They have businesses begging her for imports to produce and she still does not get it. They can't build anything without money, they can't get money without exporting, they can't export without manufacturing something, they can't manufacture without importing and they can't import because......wait, they can they just won't. Perfect argentine logic.
Sep 07th, 2012 - 05:08 pm - Link - Report abuse 0Well, that almost attends the money the KKs owe to Repsol, now what about the US$100 billion they owe to the holdouts??
Sep 07th, 2012 - 05:15 pm - Link - Report abuse 0Respol will never get paid. FUnny thing is if they did, they may have had a better chance of YPF finding a partner.
Sep 07th, 2012 - 05:19 pm - Link - Report abuse 013 Simon68
Sep 07th, 2012 - 07:53 pm - Link - Report abuse 0You stole my thunder!
Most of the stupid import restrictions have yet to really bite if you consider the lead time in most manufacturing.
Sep 07th, 2012 - 08:42 pm - Link - Report abuse 0Only automakers have the real ability to manage just-in-time components and we can see what is happening there.
I still think that the end of the year is going to show the true economic picture.
Chris I agree. And you are correct that auto industry is a huge disciple of JIT inventories carrying minimal stock, which is why some are suspending operations in south america. The manufacturing union just approached the “goddess” to allow importation of manufacturing input products becasue they the the writing on the wall. When you consider the amount of inventories that RG's must purchase at a time due to inflation, end of the year sounds resonable.
Sep 07th, 2012 - 09:04 pm - Link - Report abuse 0Once this hits them plus what the current rains and flooding is doing to the argri export market......not good when that is your onmly export.
Tourism is down too, but what can they expect when the Government as at the airport to export tourists mopney and the fact they probably can't use there debit cards because no one wants pesos.
The cheeseburger and TiT will be crying at Christmas when Santa does not come.
Good news, well done Cristina =)
Sep 08th, 2012 - 05:52 pm - Link - Report abuse 0#3 “If you tell us that you like her, you are a liar”
I like her, am I a liar?
I can hardly wait until summer when the oil demand and power grid will be SKYROCKETING when heat hits the high 30's, 38, 39. YPF will still be opening doors to positive talks while brown outs and grid failures burst unto the seen. I seen huge areas go down without juice.
Sep 08th, 2012 - 06:13 pm - Link - Report abuse 0”SIX Argentine pesos ($1.30 at the official exchange rate, or about $1 on the black market) is just enough to buy an alfajor, a sweet biscuit nibbled between meals over coffee. But according to the government, it is more than sufficient to buy an entire day’s food. On August 10th INDEC, the national statistics agency, declared that a family of four should be considered above the poverty line if its monthly food bill exceeded 688 pesos, equal to about six pesos per person per day.
The claim has stuck in the throats of ordinary Argentines, who have to spend far more than this to keep hunger at bay thanks to galloping inflation. Indignant citizens created mock advertisements featuring pizzas the size of finger nails. Hackers disabled the INDEC website, tweeting: “Now you’ll have to use your six little pesos to restore your page :)”.
Experts also doubt the government’s claim. A study by the University of Buenos Aires puts the minimum daily budget for a healthy diet at 24 pesos per person, four times the official figure. “It is totally impossible to eat healthily with six pesos,” says Sergio Britos, one of the study’s authors. INDEC’s report “loses all credibility” by supposing unrealistically low food-prices, he says.
It is not the first time that official reports have played down the cost of living. Since 2007 the government has published bogus inflation statistics to beguile voters and investors. In February, with independent estimates running more than twice as high as official ones, The Economist stopped publishing INDEC’s inflation figures.
The gap between official pronouncements and reality is not lost on the public. Margarita Barrientos, the founder of a soup kitchen in one of Buenos Aires
continue....
Sep 08th, 2012 - 07:10 pm - Link - Report abuse 0I ran out of space there:
Sep 08th, 2012 - 10:10 pm - Link - Report abuse 0The gap between official pronouncements and reality is not lost on the public. Margarita Barrientos, the founder of a soup kitchen in one of Buenos Aires’ poorest barrios, spends about six pesos per person for a single meal, and calls INDEC’s statement “insulting”. “What can you do? The government will always give the figures that suit its needs,” she shrugs. A beggar in one of the city’s trendier neighbourhoods laughs heartily when asked if she could feed her family for six pesos each. “If that were true, I would be rich,” she says.
Sorry but I was cut off.
@ 19 Conqueror/Captain Poppy
Sep 11th, 2012 - 07:24 pm - Link - Report abuse 0The Salvation Army in the USA are all running out of peanut butter, crakers, green beans, jello and apple juice.
Donations of men, women, children clothes, shampoo, soap, shaving cream, razors and toilet tissue is accepted.
Please, send your contribution, Mr. Conqueror/Captain Poppy...if your really care about the poor in the USA!
BMI’s assessment of Argentina’s economy has become more bearish, prompting us recently to downgrade our real GDP growth forecasts for 2012 from 4.0% to 3.0% and for 2013 from 3.7% to 0.9%.
Sep 11th, 2012 - 08:35 pm - Link - Report abuse 0For years, the government of President Cristina Fernández de Kirchner has had the twin goals of delivering robust GDP growth and servicing the country’s debt.
However, inflationary monetary and fiscal policies intended to stoke growth have created significant downward pressure on the exchange rate. The implied rate is around ARS6.53/US$, but the official rate is at ARS4.65/US$. The government has kept an artificially high exchange rate because of the adverse impact a devaluation would have on its ability to service its foreign debt.
What Has Changed Our Views?
A slowing of the Argentine economy, coupled with weakening global demand, has required even more drastic measures to ensure growth and keep the currency stable, such as import restrictions and severe capital controls. These policies are exacerbating economic stagnation and leading to political unrest. We view them as unsustainable in the medium term.
We now believe that the Argentine government is rapidly running out of policy options and will have to devalue its currency, which we expect to happen in 2013. The result will be:
•Higher inflation (averaging 25% over the year)
•Almost no real GDP growth (0.9% in 2013)
After this devaluation, however, economic growth should steadily increase (to between 2.6% and 4.7%) in 2014-2016, by our forecasts. Counting in the economy’s favour, export competitiveness should improve, and the economy is abundant in natural resources (oil and gas, shale discoveries). Argentina’s human capital – a highly educated workforce – is also a plus point.
Where We Stand Versus Consensus
We are slightly above Bloomberg consensus for 2012 GDP growth (2.4%), but well below Bloomberg consensus for GDP growth in 2013 (3.0%), when we expect the impact of devaluation, high inflation, and political stag
@23 Conqueror / Captain Poppy
Sep 11th, 2012 - 09:55 pm - Link - Report abuse 0For the last 12 years the USA country goverment is leading us, the citizens to poverty.
What Conqueror/Captain Poppy did, do or will do to keep the USA afloat?
Nothing.
What Conqueror/Captain Poppy have proposed for the USA elemination of their 15 trillon dollars debt to foreign countries?
Nothing
What Conqueror/Captain Poppy did to avoid the unneccessary invasion to Iraq?
Nothing.
Can any USA citizen afford a $5,000 tooth implant?
No
A $36,000 hip replacement?
No
One $16,000 round of chemotherapy?
No
A $280 doctor visit?
No
Medicine?
No
A $200,000 Lung/kidney/heart transplant?
No
A $23,000 car?
No
A $150,000 house?
No
$25,000 (4yrs) college education?
No
$400 Health Insurance coverage?
No
$600 Food expense for one person?
No
We now believe that the next president regardless who wins the presidency will cause more unemployment because of the USA 3.8oo trillion budget needs to be reduce starting January 1, 2013:
results more unemployment, high poverty level, social security benefits reduced, medicare healthcare system reduce to a monthly voucher for the elderly to afford to pay for their medical care.
Food prices increasing astronomically high.
Public transportation routes eleminated due to State budget reductions.
Give me a break, Conqueror/Captain Poppy GO TO HELL!
$150,000 for a house must be a dump!
Sep 11th, 2012 - 11:35 pm - Link - Report abuse 0http://www.argentinaindependent.com/currentaffairs/national-government-will-not-pay-subte-subsidies-with-2013-budget/
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!