Mercosur

• Wednesday, March 24th 2004 - 21:00 UTC

  Lula defends orthodox economic policies.

  Brazilian president Luiz Inacio Lula da Silva defended his administration's economic policies that have come under strong attack from groups in his own Workers Party, particularly criticizing the working of the financial system.

• Wednesday, March 24th 2004 - 21:00 UTC

  France and Germany insist in European control of IMF.

  France and Germany, as tradition indicates, want a European national to replace resigned Horst Koehler as the next Managing Director of the International Monetary Fund, German Finance Minister Hans Eichel said in Berlin.

• Wednesday, March 24th 2004 - 21:00 UTC

  Strong expansion of the Uruguayan economy.

  Uruguay's GDP expanded 2,5% in 2003, after contracting 11% in 2002. This is the first time since 1998 that the Uruguayan economy shows positive growth according to the latest release from the Uruguayan Central Bank.

• Wednesday, March 24th 2004 - 21:00 UTC

  Krueger: debt discussion with creditors, “crucial”

  On approval Monday March 22 by the IMF Executive Board of the second review of Argentina's performance under a three year 13,3 billion US dollars stand by arrangement Acting Managing Director Anne Krueger underlined that the consistent implementation of debt restructuring framework will be essential for the continued support of the international community, ”in particular, the (Argentine) authorities' intention to discuss with creditors all aspects of the debt exchange offer, including how best to take into account proposals received from creditors, is crucial”, said Ms. Krueger.

• Tuesday, March 23rd 2004 - 21:00 UTC

  IMF approves second review

  The Executive Board of the International Monetary Fund, IMF, approved this Monday the second review of the three year stand-by agreement with Argentina.

• Tuesday, March 23rd 2004 - 21:00 UTC

  Tourists left 2 billion US dollars in Argentina.

  According to the Argentine Tourism Office 3,328,485 tourists visited Argentina in 2003 leaving the equivalent of 2 billion US dollars, representing a 37% increase over 2002.

• Tuesday, March 23rd 2004 - 21:00 UTC

  Public and private debt totalled 145,6 billion US dollars

  Argentina's total debt, private and public, reached 145,6 billion US dollars in the last quarter of 2003, with a 4,9 billion US dollars increase over the previous Q, reports the National Institute of Statistics.

• Tuesday, March 23rd 2004 - 21:00 UTC

  Exploding demand causes gas shortage

  The strong growth of the Argentine domestic natural gas market and “future disruptions” can only be solved with a firm government action, claimed in Buenos Aires Repsol-YPF Foreign Relations Manager Fabian Falco.

• Tuesday, March 23rd 2004 - 21:00 UTC

  Argentina and Uruguay lead LA recovery

  Argentina and Uruguay's strong rebound will lead the recovery of Latin America's economy that is forecasted to grow between 3,8 and 4% in spite of the recent terrorist attacks according to World Bank economist Guillermo Perry.

• Monday, March 22nd 2004 - 21:00 UTC

  Breaking News from Pta. Arenas.

  Headlines:
  Lagos campaigning in Magallanes; Benthonic survey to tap Magallanes resources; Chilean Antarctic Institute HQ in Punta Arenas; Magallanes trade with EU jumped 31%; Minke whale sighted in Magellan Strait; Belfast Queen's University in Punta Arenas.