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Economy & Business - December 2003
ARGENTINA: Better, but problems ahead
A spot-check by the
IMF on the economy’s progress found that the government was hitting
its targets but refusing to compromise on its offer to commercial creditors.
The government admits that it has come under pressure from the IMF to
improve its offer to the holders of Argentina's US$88bn commercial debt.
President Néstor Kirchner and his government ruled out any compromise
on the 75% debt 'haircut' offered to creditors. Kirchner's economy minister,
Roberto Lavagna, made it clear that the government will not raise its
target for next year's primary fiscal surplus from the current 3% level
in order to be more generous to the commercial creditors.
- The surprise of 2003: Colombia
- What's going to happen in 2004?
- Dismal year ends with sensible budget
- BRAZIL: Interest rates cut again and key reforms approved
- ARGENTINA: Better, but problems ahead
- CHILE: Bank cuts rates
- PARAGUAY: Reserves climb, but bank lending collapses
- URUGUAY: Alfie resists temptation
- VENEZUELA: Budget approved, opposition alleges devaluation
- BOLIVIA: Primary economy outperforms services
- COLOMBIA: Tax reform approved
- ECUADOR: Disappointing growth
- PERU: Toledo names new prime minister and cabinet
- EL SALVADOR: The remittance business
- COSTA RICA: Next year should be better, but still hanging on Cafta deal
- DOMINICAN REPUBLIC: Back from the brink?
- GUATEMALA: Where the candidates differed
- HONDURAS: Cardinal calls for Cafta postponement
- NICARAGUA: Budget agreed
- PANAMA: Economy starts to pick up
- URUGUAY: Government accepts referendum defeat
- COSTA RICA: Government refuses to privatise
- South America scores on soya
- COPPER: Chile strike costs US$1m a day
- Commodity briefs
- ARGENTINA: Prevaricating