Mercosur

• Friday, July 18th 2003 - 21:00 UTC

  Mercosur, “a protocol of intentions”

  In a most controversial statement Brazilian Agriculture Minister Roberto Rodrigues said this week in Sao Paulo that “trade integration in Mercosur is a fallacy; it's a simple protocol of intentions because since the Asunción agreement in 1991, it has been unable to harmonize macroeconomic policies and its four members don't have a converging vision towards third countries”.

• Thursday, July 17th 2003 - 21:00 UTC

  EU-Mercosur talks stalled

  The European Union this week offered Mercosur to open its government purchasing markets as part of the ongoing free trade association talks. However agriculture which is Mercosur main interest and the main stalling point, did not even figure in the EU proposal.

• Thursday, July 17th 2003 - 21:00 UTC

  Chirac promises full support for Argentina

  As happened with Britain and Germany, and in Brussels, visiting Argentine president Nestor Kirchner was promised this Wednesday in Paris, support by his French counterpart President Jacques Chirac in Argentina's negotiations with the International Monetary Fund and with the recovery of the country's economy.

• Thursday, July 17th 2003 - 21:00 UTC

  IMF praise for Uruguay

  The Executive Board of the International Monetary Fund (IMF) praised Uruguay after having completed the third review under the Stand-By Arrangement for Uruguay anticipating the immediate availability of a disbursement of SDR 145.7 million, about US$204 million. The current Stand-By Arrangement was initially approved on March 25, 2002 in an amount of SDR 594.1 million (about US$823 million) for a 24-month period. The arrangement was augmented by SDR 1.16 billion (about US$1.6 billion) on June 25 2002 and by SDR 376 million (about US$521 million) on August 8, 2002.

• Wednesday, July 16th 2003 - 21:00 UTC

  Breaking News

  Headlines:
  Brazil targets another record crop;Chilean pork with dioxin;
  Euro-zone lowers growth estimate.

• Wednesday, July 16th 2003 - 21:00 UTC

  US economy “sluggish”

  Federal Reserve chairman Alan Greenspan in his twice yearly speech to Congress said the central bank was cutting its 2003 growth estimate for the United States economy by 0,75 percentage point, to between 2,5% and 2,75%.

• Tuesday, July 15th 2003 - 21:00 UTC

  Mercosur meeting in England

  The three Latinamerican presidents participating in the Progressive Governance conference taking place in Bagshot, south England, called for an “extraordinary meeting” of Mercosur members to improve South American integration and advance in physical infrastructure projects.

• Tuesday, July 15th 2003 - 21:00 UTC

  Deflation in Brazil

  Cost of living in Brazil was negative for the first time in four and a half years.
  According to the Brazilian Geography and Statistics Institute, IBGE, consumer prices in Brazil last June dropped 0,15% after having increased 0,61% in May.

• Tuesday, July 15th 2003 - 21:00 UTC

  German bank optimistic forecast.

  One of Germany's leading banks, Dresdner expects a doubling of capital inflow to Latinamerica in 2003, which should significantly help the foreign accounts of the region's countries.

• Tuesday, July 15th 2003 - 21:00 UTC

  Third highest US trade deficit record

  United States trade deficit last May was the third highest ever, reaching 41,84 billion US dollars, pushed by weak exports and record imports of oil.