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Edición 2753 - Miércoles 14 de Mayo de 2008
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News Update
Harshly criticized by ruling party

Schiaretti stresses differences with Gov't: “I won't let anyone make Cordoba kneel down”
Cordoba governor, Juan Schiaretti, said that he was not "afraid of government reprisals" after his meeting with farm leaders. "I'm not going to let anybody make my province kneel down to afterwards receive breadcrumbs," he warned. The aide stated that, despite clashes with ruling party, "the relationship between national state and provincial state is governed by Argentine Constitution, acts and agreements." In a new sign to show his distancing from management of president Cristina de Kirchner, Schiaretti announced that he would not be present in inauguration ceremony of former president Nestor Kirchner as Peronist Party chief. Español
Seventh day of protest

More truck hikes and roadblocks in the interior of the country
Farmers are demonstrating on their trucks in Bahia Blanca, La Pampa and Gualeguaychu. A similar protest is being staged on road 9. Moreover, there are partial cuts in Santa Fe, Cordoba and Entre Rios. Español
New government picketing advance against farm

D'Elia plan starts: Rural Society office wrecked
Picketers have gathered on Wednesday morning in Argentine Rural Society's head office. Demonstrators are distributing fliers and making graffiti against farm protests. Security measures have already been taken in view of potential incidents. The police has fenced in the area and shopkeepers have closed their stores. Yesterday, the head of Land and Housing Federation, Luis D'Elia, announced that "in view of attack against government and if lockout intensifies, we are going to carry out concrete actions across the entire country." Pro-government groups will gather tomorrow to sketch measures against farmers. Español
• Crazy: picketer D Elia offers to confront farmers
Argentine market
Bonds cannot stop falling
Main Argentine government bonds trade with a falling trend again. Discount in pesos loses 1.9 per cent and Par in the same currency slides 2.4 per cent. BOGAR 2018 lowers 1.3 per cent; PRO13, 2.6 per cent; and PRE9, 0.4 per cent. Español
Financial outlook

Argentine stocks crash 0.1%
Buenos Aires Stock Exchange dips 0.1 per cent on Wednesday trading, after losing 0.9 per cent yesterday. Merval index hits 2,104.4 points. The leading stock panel has increased 0.4 per cent so far May, though decreasing 2.2 per cent during 2008. Español
Local exchange market

US dollar down one cent to ARG$3.20
US dollar slid 0.3 per cent on Wednesday with respect to yesterday's close. Purchase value settled at ARG$ 3.16. During 2008, the American currency has increased 0.9 per cent. Wholesale dollar falls to ARG$3.1650. Español
A clash with no solution

Gov't denounces “brutal” attacks in farm protest
Argentine interior minister, Florencio Randazzo, stated that a teacher and her husband had been "beaten." The aide added that farmers were "extorting" mayors so as to force them to "declare themselves either in favour of government or of the people." Español
Published in Government Gazette
Measures to increase energy supply launched
Provincial and municipal energy distribution companies have been authorized to offer operation of hydroelectric generation units with installed power lower than 2,000 kilowatts. Up to now, those corporations have not been authorized for commercial operation. Español
Hiring 40 workers a day
Argentina has more civil servants than Chile
Argentine government has 1.5 millions of workers. Chile only has 90,000. In this way, national State becomes the greatest employer of the country. Thus, unemployment does not fall as a consequence of real economy expansion and government spending increases. Español
Dollar in its worst day
Argentine Central Bank (BCRA) came out to play strongly on Tuesday so as to try to curb dollar run. The monetary authority sold nearly $300 millions and managed to make the American currency go back in wholesale market, moving from ARG$3.177 to ARG$3.164. In that way, the entity tried to send a sign, a punishment, to those buying at higher prices. In exchange agencies, dollar stayed at ARG$3.21. Without soothing signs, savers keep on leaving time deposits in pesos. Interbank rates continue hiking, reaching to 10.5 per cent. On the other hand, farm clash and comeback of picketer Luis D' Elia further fuels uncertainty. Moreover, BCRA reserves have already fallen below $50 billions. Español

Striking farm begs Gov't to receive it
Farmers stated on Tuesday that if government called them, they would be ready to negotiate. However, that looks really far amid current tension. For that reason, protests will continue, probably intensified. Español
Terrible: from INDEC to IDEC
Argentine Statistics and Census Institute (INDEC) announced on Tuesday that it would stop disclosing its report on province inflation. No explanations were given about such decision. They were neither necessary: San Luis and Santa Fe have dodged government pressures and have shown real price performance. What's certain now is that letter "N" referring to "national" in the acronym will be useless. Español

Nestor Kirchner makes his debut
Former Argentine president Nestor Kirchner will make his debut on Wednesday as the new chief of Peronist Party. His launch will be accompanied by a sour anti-farm speech, saved exclusively for him. For that reason, his wife and president Cristina de Kirchner won't talk in this afternoon's ceremony. Nestor will push farm conflict closer to the abyss. Español

UIA conditions Gov't: pact not signed without farm
Signing of the Bicentenary Agreement ended at risk on Tuesday after meeting held between Argetine president Cristina de Kirchner and Argentine Industrial Union (UIA). Industrialists want it to be signed by all sectors. Español

Crazy: picketer D' Elia offers to confront farmers
Government picketer Luis D' Elia vowed on Tuesday to advance on farm protest staged in the province of Entre Rios if strike continued. Farmer Alfredo De Angeli promised to call 30,000 peers to settle on roads to confront him. Really dangerous. Español

“Argentina now needs an all-embracing attack to inflation”
The economist Luciano Laspina said so about government movements. The expert held that Argentina was too linked to foreign price development. "It's really strong, horrifying," he expressed. Español

Former minister Miceli out to trial
Former Argentine economy minister Felisa Miceli will be prosecuted for the case brought for cash found in her office's toilet when Miceli was in charge of economy department. Further probe is requested in view of potential illegal enrichment. Español
YPF placement in stock exchange postponed
The head of the oil firm Antonio Brufau announced so. The firm would place 20 per cent of YPF in stock exchange before September, putting forward realization announcements for June. Español

THE ECONOMIST OF THE MONTH
“Argentina to continue growing, though with the same risks”
World Trade Organization
World Trade Report 2007
IMF
World Economic Outlook: Housing and the Business Cycle
Economic Outlook for Western Hemisphere
IMF Executive Board Concludes 2006 Article IV Consultation with Argentina
IMF Report about Argentina's economy
IMF role in Argentina's case over 1991-2001
IMF discusses lessons from Argentina's crisis
BIS 77th Annual Report
Piecing the puzzle together
The global economy
Emerging market economies
Monetary policy in the advanced industrial countries
Foreign exchange markets
Financial markets
The financial sector in the advanced industrial countries
Prevention rather than cure?
ECLAC
Foreign Investment in Latin America and the Caribbean
5% Growth in 2006 for Latin America and the Caribbean
Table. Latin America and the Caribbean: Gross Domestic Product
World Economic Forum
Benchmarking National Attractiveness for Private Investment in Latin American Infrastructure
World Bank
Latin America and the Caribbean regional prospects
JP Morgan Research
Argentina Investor Trip Notes
ECONOMY
Argentina to pay off debt to IMF Press release
US judge's opinion favouring Argentina's holdouts
Growth Competitiveness Index World Economic Forum
Prospectus Supplement Details of debt swap
Argentina-China talks Memorandum of Understanding
Sustainability of Argentina's debt IMF analysis
Effects of Argentina's bank consolidation in 1995-2000 IMF report
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