The Cuban government admitted it will have to amend several laws and decrees before implementing a plan of updating the Socialist economic model, the official Granma daily reported this week. This includes eliminating the double currency system.
“The global crisis is not over, nothing has been solved, only patches to avoid the worst effects of a great depression”, according to Carlos Slim, the Mexican tycoon considered by Forbes the wealthiest man on earth, currently in Buenos Aires for a round of conferences.
German Chancellor Angela Merkel said the Euro is the glue that holds Europe together, signalling that an Irish bailout may be the price of preserving European unity.
The Paris Club of creditor nations accepted Argentina’s request to hold talks on restructuring its estimated 6.7 billion US dollar of debt without the oversight of the International Monetary Fund, announced on Monday President Cristina Fernandez de Kirchner.
President Cristina Kirchner received China's visiting Agriculture Minister Han Changfu on Monday at Government House in Buenos Aires, formally ending a six month trade war that threatened Argentina's standing as the world's leading soybean oil exporter.
Bilateral trade among Mercosur main partners, Argentina and Brazil is expected to reach a “historic record” of almost 34 billion US dollars this year, 80% of which mostly manufactured goods, according to Argentine Industry minister Deborayh Giorgi, who also anticipated that the deficit would drop 30%.
Brazilian president-elect Dilma Rousseff admitted her administration would take all the necessary measures possible to prevent the Brazilian Real from increasing its value vis-à-vis the US dollar, according to reports from the Sao Paulo press that interviewed the successor of President Lula da Silva in the recent G-20 summit in Korea.
Brazilian President-elect Dilma Rousseff efforts to restrain public spending will allow the central bank to cut the benchmark interest rate next year, Finance Minister Guido Mantega said.
Ireland is in talks with European officials about current “market conditions” as Germany pushes it to accept a bailout and help reverse a bond sell-off across the euro-region’s periphery.
Leaders of the 21-member Asia-Pacific Co-operation (Apec) forum have pledged to move towards creating a regional free-trade area. The agreement was announced at the end of a two-day summit in Yokohama, Japan.