Mercosur

• Tuesday, December 16th 2003 - 20:00 UTC

  Iraqi oil for Repsol-YPF

  The Spanish Argentine oil company Repsol-YPF confirmed a contract to purchase oil from Iraq. This is Repsol-YPF's second contract since coalition forces ousted former Iraqi president Saddam Hussein.

• Tuesday, December 16th 2003 - 20:00 UTC

  Killing of US journalist in 1973 in Chile almost solved

  A Santiago Court of Appeals upheld a ruling this Monday contrary to a former Chilean Air Force intelligence agent accused of participating in the 1973 murder of U.S. journalist Charles Horman, whose case inspired the film “Missing.”

• Tuesday, December 16th 2003 - 20:00 UTC

  EU extends preferential tariffs until 2005

  The European Union Council of Ministers decided this Monday in Brussels to extend for another year, 2005, the preferential tariffs it grants to developing countries and which represent benefits for the Andean and Central American countries, according to EU sources.

• Tuesday, December 16th 2003 - 20:00 UTC

  Trade discussion unchanged, but there's a “window” of hope

  Members of the World Trade Organization, WTO failed in Geneva to reach an agreement for the relaunching of trade talks but officials are hopeful that at the beginning of the politically loaded 2004, progress can be achieved.

• Tuesday, December 16th 2003 - 20:00 UTC

  IMF approves extension of Brazilian stand-by loan

  The International Monetary Fund approved this Monday a fifteen months extension and increase in 6,6 billion US dollars of Brazil's stand-by credit originally approved in September 2002, taking the overall sum available to 14 billion US dollars. The IMF Board also approved a request to extend the deadline for loan repayments involving 5,8 billion US dollars that fall due in 2005 and 2006.

• Monday, December 15th 2003 - 20:00 UTC

  EU praises G-20 and blasts US.

  European Union Trade Commissar Pascal Lamy addressing the G-20 in Brasilia said that negotiations to make “protectionism more flexible” had begun and underlined the need to differentiate the EU position from the United States less flexible stand.

• Monday, December 15th 2003 - 20:00 UTC

  Crucial Congressional victory for Lula da Silva.

  Brazilian president Luiz Inacio Lula da Silva finally achieved a crucial piece of his administration's program when last week the Senate approved 51-24 a sweeping reform of the deficit ridden pension system.

• Monday, December 15th 2003 - 20:00 UTC

  Pressure to repeal “bribed” labour reform bill.

  A majority of Argentine Congress members are considering the repeal of a labour reform bill following revelations from a former Senate official that several Senators had been bribed in 2000 to have the bill approved.

• Monday, December 15th 2003 - 20:00 UTC

  Peru becomes associate member of Mercosur.

  Peru is scheduled to become the third associate member of Mercosur during the block's presidential summit in Montevideo this week after having successfully concluded negotiations according to Uruguayan diplomatic sources.

• Sunday, December 14th 2003 - 20:00 UTC

  Uruguay's economy expands 2,4%

  Uruguay's economy expanded 2.4% during the third quarter of 2003 compared to a year ago seemingly suggesting that a recession that started in 1998 including a run on the banks in 2002, was coming to an end, according to the latest release from the Central Bank.