Argentina could be the victim of a strong dispute between the US Treasury and Wall Street who are odds over investments in emerging markets bonds, where returns are greater but not necessarily the risks, according to some US economists.
In a surprisingly forceful, and candid, speech during the official inauguration of the annual Palermo Agricultural Show, President Fernando De la Rúa vigorously promoted the zero-deficit austerity package and also admitted a cover up operation regarding foot and mouth disease.
Argentine and regional markets reacted favorably after the Argentine Senate approved an austerity package aimed at balancing the budget, stimulating the economy and bringing some relief to foreign investors who fear the country might default on its 130 billion debt.
Mercosur presidents meeting in Lima, Peru, expressed their full support to the Argentine administration of President Fernando De la Rúa and its zero-deficit target.
Bolivian president Hugo Banzer seriously ill with cancer and under medical treatment in United States will officially resign next August 6th., the country's independence day.
With twelve heads of state present and the full support of the international community, Alejandro Toledo, the shoe shine boy turned economist and the first native Indian origin Peruvian president, took office Saturday July 28th. in Lima, pledging a full scale war on poverty.
A New Zeland trade delegation headed by Prime Minister Helen Clark, other government officials and representatives from the country's main industries will visit Mercosur members next November.