Mercosur

• Saturday, November 6th 2004 - 20:00 UTC

  US dollar reaches new low against the Euro.

  The US dollar ended the week with a record low against the Euro (1,2910 to the Euro) with analysts forecasting further decline.

• Saturday, November 6th 2004 - 20:00 UTC

  South American Community moves on.

  The Brazilian sponsored creation of a South American Community of Nations advanced a step further this week during the presidential summit of the Rio Group which convened heads of state and representatives from 19 nations.

• Saturday, November 6th 2004 - 20:00 UTC

  Rio Group not too enthusiastic about FTAA.

  The resumption of negotiations for the Free Trade Association of the Americas, FTAA, as was anticipated this week by US Ambassador in Brazil John Danilovich did not receive an encouraging reply from the South American representatives meeting in Rio this week.

• Saturday, November 6th 2004 - 20:00 UTC

  Rio Group supports Malvinas claim.

  The Rio Group XVIII presidential summit which ended this Friday in Rio do Janerio included in its final declaration a chapter in support of Argentina's claim over the Falklands/Malvinas.

• Saturday, November 6th 2004 - 20:00 UTC

  Aust hails agreement on Antarctic fishing.

  Australian delegates to a meeting of Antarctic treaty nations are claiming a major success in the fight against patagonian toothfish poachers.

• Friday, November 5th 2004 - 20:00 UTC

  Eurozone and UK rates remain unchanged.

  The European Central Bank decided Thursday to leave Eurozone interest rates unchanged at 2%. The decision was expected by financial markets since there are growing concerns about the economic recovery of the Eurozone twelve nations.

• Friday, November 5th 2004 - 20:00 UTC

  IMF asks Bush administration to balance budget.

  International Monetary Fund Managing Director Rodrigo de Rato said that the main challenge for re-elected United States president George W. Bush during his second mandate will be the budget deficit.

• Friday, November 5th 2004 - 20:00 UTC

  Inflation in Chile under control.

  Consumer prices during October in Chile advanced 0,3% totalling so far this year 2,6% and 1,9% in the last twelve months.

• Friday, November 5th 2004 - 20:00 UTC

  US insists with FTAA negotiations.

  United States Ambassador in Brazil John Danilovich said in Rio do Janeiro that negotiations for the creation of the Free Trade of the Americas Association, should resume before the end of 2004.

• Friday, November 5th 2004 - 20:00 UTC

  Rio Group summit pledge help for Haiti and democracy.

  Peruvian and Brazilian presidents Alejandro Toledo and Luiz Inacio Lula da Silva inaugurated Thursday in Rio do Janeiro the XVIIIth Rio Group presidential summit which this Friday will release a document pledging support for Haiti, democracy and regional integration.