Paraguay is considering demanding “moral and economic” compensation from Argentina, Brazil and Uruguay for having been suspended from Mercosur as full member and at the same reiterated its rejection to Venezuela’s admission, according to the country Foreign Ministry.
Brazil rolled out additional stimulus measures to bolster its sluggish economy on Thursday, extending tax breaks to more than two dozen industries and reducing the cost of acquiring capital goods in a bid to help struggling local businesses.
Argentina’s inflation advanced 0.9% in August and 6.8% in the first eight months of the year according to the controversial official stats office Indec. Whole sale prices were up 1% over July and the construction cost increased 1.3%.
Uruguayan former presidents Jorge Batlle and Luis Alberto Lacalle came in support of the current Paraguayan authorities and political process and claimed the only “coup” was that of Mercosur against Paraguay. They also questioned the removed president Fernando Lugo’s ‘pitiful reaction’ and statements.
Standard & Poor’s credit risk rating agency improved the prospects of Paraguay, removing the country from credit-watch where it had been placed with negative implications last June 25 when the political situation that removed Fernando Lugo as president and subsequent suspension of Paraguay from Mercosur.
Latin American Minerals Inc., Lampa, announced on Wednesday the delivery of the first gold doré bar produced at its Paso Yobai Gold Project pilot plant in Paraguay, to the Johnson Matthey Ltd. gold refinery in Brampton, Ontario.
By Eric Stadius, Research Associate at Council on Hemispheric Affairs and Peter Tase, Research Fellow at Council on Hemispheric Affairs.Two months after President Fernando Lugo’s impeachment, Paraguay has transitioned from reconciling its relatively benign political crisis to enhancing regional and international links politically and economically.
The OAS, Organization of American States, cabinet chief and head of political affairs are expected in Paraguay to continue with the organization’s mandate of establishing an electoral committee and helping with the process of strengthening democracy in the country.
The Paraguayan Senate, at the heart of serious regional diplomatic dispute, voted by a solid majority against the incorporation of Venezuela as full member of Mercosur. Thirty one Senators rejected the Venezuelan Protocol of Adhesion, three supported it and eleven left the floor before the vote was taken.
The Organization of American States (OAS) agreed on Wednesday to dispatch of a mission to Paraguay to accompany and observe the electoral process in the country that will conclude with the general elections of April 21, 2013.