Mercosur

• Monday, August 30th 2004 - 21:00 UTC

  IMF praises Uruguayan “faster than expected recovery”.

  The Executive Board of the International Monetary Fund (IMF) completed last Friday the fifth review under the SDR 2.13 billion (US$3.1 billion) Stand-By Arrangement (SBA) for Uruguay which makes available immediately SDR 139.8 million (about US$204 million).

• Monday, August 30th 2004 - 21:00 UTC

  Lan Chile raises air fares average 4%

  Ballooning fuel prices have forced Lan Chile to increase international and domestic fares an average 4%, the Chilean flag air carrier announced last week.

• Friday, August 27th 2004 - 21:00 UTC

  Brazilian bank warns about oil and inflation

  If oil prices remain strong in world markets and inflation estimates for 2005 do not begin to fall, the Monetary Policy Committee of the Brazilian Central Bank will “adopt a more active monetary policy attitude”, that is the basic SELIC interest rate could further raise.

• Friday, August 27th 2004 - 21:00 UTC

  IMF-Argentina third review “delayed”

  The International Monetary Fund, IMF, said Thursday that the third review of the 13 billion US dollar agreement with Argentina is “delayed” but not suspended since both sides continue negotiations in the framework of very cordial relations.

• Friday, August 27th 2004 - 21:00 UTC

  Pinochet stripped of immunity from prosecution

  The Chilean Supreme Court cleared the way Thursday for former dictator Augusto Pinochet to be prosecuted for his role in the killing and torturing of thousands of leftists during his iron fisted rule (1973/1990), but it is still to be seen if the aging general suffering from “dementia” will eventually stand trial.

• Thursday, August 26th 2004 - 21:00 UTC

  Chile plans national park in Tierra del Fuego

  A feasibility project for the creation, design and management of a Tierra del Fuego Regional Park was signed this week between Chilean government officials and a private company Sustentable.

• Thursday, August 26th 2004 - 21:00 UTC

  Tourism, Peru's second export industry

  Tourism has become Peru's second-largest source of revenue after mining bringing in some $832 million said President Alejandro Toledo

• Thursday, August 26th 2004 - 21:00 UTC

  G7 concerned with Argentina

  G 7, the seven richest countries of the world group is concerned with the postponement until December of the third Argentina-IMF review fearing it could further delay the restructuring process of the defaulted Argentine sovereign debt according to G 7 sources.

• Thursday, August 26th 2004 - 21:00 UTC

  Brazil and Norway consider oil industry association

  Petrobras and Statoil, Brazilian and Norwegian government owned oil companies are considering an association with the purpose of participating in the oil exploration and production round Venezuela will be calling before the end of the year.

• Thursday, August 26th 2004 - 21:00 UTC

  Gas and oil discovery in Colombia.

  A field with large reserves of natural gas and smaller quantities of oil was discovered by Colombia's government oil company Ecopetrol in an area abandoned by the US company Occidental, announced Colombian Mines and Energy minister Luis Ernesto Mejía.