Stories for February 2013

Saturday, February 2nd 2013 - 20:07 UTC
Argentina lashes back at the IMF but announces new CPI for this year

Following Friday’s IMF ‘declaration of censure’ on Argentina because of the lack of reliability in its inflation and GDP stats, and the country’s first reaction virtually describing the Fund as mother of all financial evils, Minister of Economy Hernan Lorenzino announced a new ‘national’ Consumers Prices Index to be implemented in the course of this year and which will replace the current GBA-IPC.
Saturday, February 2nd 2013 - 19:55 UTC
Jewish organization rejects Argentina/Iran deal to resolve 1994 bombing

Argentina’s leading Jewish organization, AMIA, contrary to a few days ago when meeting Foreign minister Hector Timerman, rejected the deal signed by the government of President Cristina Fernandez and Iran to create an independent international ‘truth commission” to investigate the 1994 terrorist attack on AMIA and demanded the redrafting of a new accord.
Saturday, February 2nd 2013 - 19:45 UTC
Foreign Office insists Argentina was informed in advance Falklands’ MLAs would attend Hague/Timerman meeting

The last round of the Falklands’ dispute between the UK and Argentina seems to have exposed a new blunder of Minister Hector Timerman, since according to the Foreign Office from the very request last December for a meeting with Foreign Secretary William Hague this month in London, the Argentine official was clearly informed that Falklands’ representatives would be present when the particular issue of the Islands was raised.
Friday, February 1st 2013 - 23:18 UTC
Petrobras prepares to extract heavy oil with 140.000 bpd FPSO unit

After months of delays, the P-63 floating production storage and offloading unit (FPSO) has made its temporary home in Brazil's Port of Rio Grande, Petrobras and the Quip consortium said on Thursday.
Friday, February 1st 2013 - 23:07 UTC
Uruguay’s budget deficit soars to 2.8% of GDP; Minister pleads for ‘austerity’

Uruguay’s budget fiscal deficit soared to 1.35 billion dollars or 2.8% of GDP last year, the highest since 2003, propped by energy costs, extraordinary one time payments and support for the recently implemented national health scheme, according to a release from the Ministry of Economy.
Friday, February 1st 2013 - 23:02 UTC
IMF censures Argentina; ‘remedial measures’ expected by September

Argentina became the first country censured by the International Monetary Fund for not sharing accurate data on inflation and economic growth under a procedure that can end in expulsion. The declaration of censure was adopted Friday by the IMF 24-member board of directors and even if it doesn’t have immediate effects, the decision takes the country a step closer to sanctions that include barred access to IMF loans.
Friday, February 1st 2013 - 20:13 UTC
Falklands regret Timerman attitude and calls on Argentina “to respect our rights”

The Falkland Islands government said on Friday it deeply regrets that Argentine Foreign Minister Hector Timerman refused to meet with lawmakers from the Islands and Foreign Secretary William Hague, next week when he travels to London.
Friday, February 1st 2013 - 18:47 UTC
Argentine court confirms setback for Chevron in 20-year old dispute with Ecuador

An Argentine appeals court has upheld an embargo on the assets of Chevron Corp.'s local subsidiary, a legal setback for the company, which had said the embargo compromised its operations in the country. A lower court judge issued the embargo last year as part of a decades-old legal dispute involving claims that Chevron is responsible for environmental contamination in Ecuador.
Friday, February 1st 2013 - 07:51 UTC
Argentine unions anticipate marches and protests for next March

Argentina’s powerful organized labour even divided have agreed that the recent rise in the income tax floor announced by the government of President Cristina Fernandez is ‘not enough’ and industrial action is anticipated as soon as next March, when full activity resumes in Argentina following summer holidays.
Friday, February 1st 2013 - 07:45 UTC
IMF: Peru, Chile, Paraguay and Bolivia, best prepared in the event of another global crisis

Peru, Chile, Paraguay and Bolivia area among the South American countries best prepared in the event of another global crisis while Venezuela stands at the opposite end with ‘weakened’ defences, according to the latest report released by the IMF.