Mercosur

• Monday, June 30th 2003 - 21:00 UTC

  With Brazil's prodding, CAN closer to Mercosur

  The Community of Andean Nations, CAN, agreed this past weekend to accelerate the decision making process with the purpose of achieving a free trade agreement with Mercosur by the end of the year and so be better prepared for the coming United States sponsored Free Trade Association of the Americas, FTAA.

• Monday, June 30th 2003 - 21:00 UTC

  Majority against President Chávez

  If a revocatory referendum against Venezuelan president Hugo Chavez is called, 62% of Venezuelans would vote against him, while 30% would support him according to a poll released this weekend in Caracas, the country's capital.

• Monday, June 30th 2003 - 21:00 UTC

  Argentina clips wings of speculative capital

  Argentina imposed a six months compulsory “residence” on incoming financial capital. The regulation that already exists in other South American countries and excludes foreign trade operations and “direct foreign investment” is targeted to ease the impact of speculation in local financial markets.

• Sunday, June 29th 2003 - 21:00 UTC

  Mexico Extradites Cavallo to Spain.

  Under heavy security, a former member of Argentina's military was extradited Saturday to Spain on charges of genocide and terrorism for allegedly torturing dissidents during his country's “Dirty War” against government opponents.

• Friday, June 27th 2003 - 21:00 UTC

  Argentine Chief Justice resigns.

  Argentina's Chief Justice Julio Nazareno resigned Friday following weeks of bitter conflict with the executive branch and congressional moves to impeach him, Supreme Court officials told to the press.

• Thursday, June 26th 2003 - 21:00 UTC

  Lowest US interest rate since 1958.

  The US Federal Reserve cut interest rates this Wednesday a quarter percentage the lowest level since 1958 and suggested there could be further measures, since the economy “has yet to exhibit sustainable growth”.

• Thursday, June 26th 2003 - 21:00 UTC

  Argentine gov't to file criminal charges Supreme Court head.

  The Argentine government announced Wednesday that it intended to file criminal charges against Supreme Court President Julio Nazareno over a case that cost the state more than $100 million.

• Wednesday, June 25th 2003 - 21:00 UTC

  Brazil adjusts inflation targets.

  Brazilian monetary authorities decided this Tuesday to readjust upwards the inflation target for the coming two years. The 2004 target was increased from 3,75% to 5,5%, with a 2,5% plus/minus tolerance, which means inflation next year will have an 8% ceiling. Similarly the 2005 target was fixed in 4,5% with a plus/minus 2,5%.

• Wednesday, June 25th 2003 - 21:00 UTC

  IMF-Argentina, friends but?

  International Monetary Fund Managing Director Horst Koehler announced in Buenos Aires that the multilateral credit organization was working in a medium term agreement with Argentina.

• Tuesday, June 24th 2003 - 21:00 UTC

  Toledo: Time has come for changes in government.

  Peruvian President Alejandro Toledo said in a speech on Monday that “the time has come” for changes in his administration and that he will be appointing more people with diverse political views.