Weekly Report - 17 May 2005

ARGENTINA-BRAZIL | An 'asymmetry' on the mend? Brazil may have rejected Argentina's proposals for trade measures to correct 'asymmetries' between the two countries, but its non-interventionist exchange policy may help achieve the result Buenos Aires wants. On 12 May Brazil's development, industry & trade minister, Luiz Eduardo Furlan, said that a 7% depreciation of the US dollar against the Real since the beginning of the year has left Brazil 'with an exchange rate 20% less attractive than Argentina's'. This, he said, will lead to a fall in Brazil ´s exports in the medium term.

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