Argentine economic activity grew at a steady pace in October but there are signs that growth will cool in the coming months, local consultants Orlando J. Ferreres & Asociados, OJF, said Thursday.
The French auto consortium Peugeot-Citröen agreed with the Argentine government not to remit earnings during two years (2011/2012), approximately 50 million dollars announced Argentine government sources.
The former head of the Argentine Central Bank, Mario Blejer assured on Wednesday that in the exchange market “tension has been created which will only start to dissolve as and when we minimize the analysis of the subject.”
Uruguay had to stand up to a world power and deny dock access to a Royal Navy vessel on its way to the Falklands/Malvinas to retain good relations with Argentina, admitted the Uruguayan President Jose Mujica in Guadalajara where he met with members of the Uruguayan colony in Mexico.
Argentina announced Wednesday a further adjustment to its extended public utilities (electricity, water and gas) subsidies policy and this time the cuts will apply to large companies and high income households.
Argentina’s flag carrier Aerolíneas Argentinas flights were still backed up Wednesday morning, due the weekend’s union conflicts, in addition to the volcanic ash cloud spewed by Chile’s Pueyhue volcano last week.
Argentine Economy Minister and Vice-President elect Amado Boudou urged Latin American countries to increase the use of local currencies in regional trade instead of depending on other currency such as the dollar.
The administration of President Barak Obama reaffirmed its decision to “keep reminding” Argentina of the need to comply with its international obligations as well as the importance of upholding an investment climate ‘transparent and fair’ that includes paying creditors, points out a piece from Buenos Aires La Nacion correspondent in Washington.
Argentina will not take back the millions of Pesos that thousands of tourists spend in neighbouring Uruguay during the summer season. That was the reply to a request from Uruguay’s largest bank branch in the City of Buenos Aires, according to banking sources in Montevideo.
Argentina's central bank cut dollar reserve requirements after bank deposits plunged 645 million dollars last week following the government's moves to restrict foreign exchange purchases in an attempt to reduce capital flight.