¹ Sep, 08 2001
 
Accidents/ Diplomatic/ Economics/ Former USSR/ Fun/ Hot spots/ Letters to the Editor/ Main/ Politics/ Regions of Russia/ World/ Discussions/ In Russian/ Advertising/ About

Collision of airplane with World Trade Centre. Video record
Pravda.RU:Main:More in detail
11:02 2001-09-08
ARGENTINA ON THE BRINK



The signs that the recession is biting deep into Argentina are overwhelming. Thousands of jobs have been lost, wages and pensions have been reduced by around 13%, unemployment runs at a record-.breaking 17% and social unrest begins, with demonstrations of 30,000 in Buenos Aires demanding that the wages and pensions be restored to their previous levels.

The man responsible for these draconian measures is the Finance Minister, Domingo Cavallo, who states that he will manage to save Argentina from the abyss. He does not have long – 90 days, in fact, before Argentina’s next tranche is due to the IMF.

It is precisely Argentina’s huge external debt which straps its economy into the same straightjacket which cripples most, if not all, of South America. Argentina owes 128 billion USD in external debt. An injection of 40 billion USD last December and a further 8 bn. in August did little to alleviate the tension.

If Argentina defaults on its payment to the IMF, it could spell disaster not only for this country, but for its neighbour to the north, Brazil. However, the result could be a house-of-cards which will see other South American economies collapse in a wave of confidence crises.

Should Argentina fail to pay what it owes the IMF, the likely consequence would be the tap of foreign investment finally being firmly closed. Michael Smith, Chief Executive of the Argentine branch of HSBC bank, stated, “If Argentina does default, this will be a closed market for at least ten years...It would become a wasteland”.

As foreign investment dried up, unemployment would rise even higher, trade would go into recession and poverty would become entrenched, bringing with it the corresponding political dangers which have always beset this continent – the specter of fascism. Argentina’s main trading partner, Brazil, would be hardest-hit of all the country’s neighbours.

Sr. Cavallo has been trying hard. He is attempting to reduce the country’s 40% tax evasion rate and states that Argentina must learn to live within its means. He calls this policy “zero deficit”, meaning that the country must spend only what it receives in taxation. This is why it is important to tighten the fiscal control around its richer members of the population, but in such a way that they do not flee abroad.

He has also tried to reduce corruption and increase accountability in the country’s public services. However, there is an aura of mistrust around him, since many identify him with the corruption which besets the country. He was the country’s finance minister under ex-president Carlos Menem, under whom many state-owned companies were privatized, but the billions of dollars generated disappeared.

However, this is a thin ray of hope at the end of the tunnel: the 5.9 bn. USD deficit at the beginning of the first half year has been reduced to a forecast 151 million at year’s end.

Meanwhile Argentina, and Brazil, hold their breath, Domingo Cavallo momentarily assuming a greater importance than the national football teams.

Marcia MIRANDA
PRAVDA.Ru
BRAZIL


RIA 'Novosti'
Voice of Russia
World Full Coverage in Yahoo!
The ministry of Foreign Affairs of Russia
Pravda.RU:Main

23:56
IRAQ EXPELS UN OFFICIALS
Washington spies have been expelled from Iraq for affecting this country’s national security, according to Baghdad. More detail...

23:55
EMILIE ACQUITAINE: PAEDOPHILIA IN FRANCE
Two cases of paedophilia have shocked France this week, namely because in both cases, the perpetrators of this evil were people linked to educational services. More detail...

23:53
UNITED KINGDOM: HEART PATIENT SELLS HOME TO BUY OPERATION ABROAD
In what is a shame for the British National Health Service, a man has sold his home to buy an operation in South Africa because of the long waiting lists in the United Kingdom. More detail...

17:44
BELIEVER, THE MOVIE BANNED IN VOLGOGRAD
The administration of the city of Volgograd did not allow the city cinema Pobeda (Victory) to show the American movie the Believer which was given the Grand Prix at the XIII Moscow International film festival More detail...

17:01
KOSOVO COURT RULED: SERBIAN TROOPS ACTS IN KOSOVO NOT GENOCIDE
The Supreme Court of Kosovo working under the UN aegis ruled that the actions of the Serbian troops in Kosovo in 1998 – 1999 could not be referred to as the genocide against the population in Albania More detail...

16:11
USA AND GAYS OF BELARUS AGAINST LUKASHENKO. ONE DAY LEFT BEFORE PRESIDENTIAL ELECTIONS
The capital of Belarus, Minsk has been shocked. It became the city to hold the gay pride parade - for the first time in the Commonwealth of Independent States More detail...

14:11
CHRIS DELISO: THE MEANING OF BELARUS. ELECTION FEVER AND NATO'S INVISIBLE ARMY
On September 9, Belarus will go to the polls to elect a president, either the incumbent, Alexander Lukashenko, or one of his U.S.-sponsored challengers. In the Western media, at least, the decision has already been made: Mr. Lukashenko must go More detail...

13:45
SERGEI NIKOLAYEV: ULYANOVSK TO BECOME CULTURAL CAPITAL WITH NO HOT WATER
From this day on Vladimir Lenin’s home city (the leader of the Great October Revolution which took place in Russia in 1917) of Ulyanovsk will become the cultural capital of the Volga region. Ulyanovsk is the first city in the Volga administrative district which was awarded this title More detail...

11:04
MOZAMBIQUE : 189 CHILDREN INFECTED WITH AIDS EVERY DAY
140 minors are infected with the AIDS virus every day in Mozambique, according to recent statistics released by the National Council for Combatting AIDS. More detail...

11:03
EAST TIMOR: FRETILIN CLEAR WINNER
The clear winner of the elections in East Timor is FRETILIN. This party will thus have an absolute majority in the country’s new legislative assembly, which will draw up the Constitution of the newest state in the world. More detail...

11:02
ARGENTINA ON THE BRINK
As Argentina teeters on the brink of economic collapse, Brazil casts a wary eye over its shoulder and the rest of South America fears the worst: could this be the mega-recession this continent has been dreading? More detail...

11:00
IN DUBAI SWIMSUITS AND SWIMMING TRUNKS INTERDICTED
“Low of Proper Behaviour” has been put in force in one of the most advanced emirates – in Dubai. Though rules fixed in it seem rather to be a sign of backwardness. More detail...

21:07
LEFTIST ORGANIZATIONS ARE GETTING READY TO COME FORWARD IN MOSCOW
Moscow may experience big shock because of that. However these were not the first statements from the extremists, they all promised something grand like earthquakes before More detail...

20:44
OUR PARTNERS: ST. PETE’S BUSINESS CONTACTS CENTRE OPENS IN THE FINNISH CITY OF TURKU
More than 2 years have passed since the 1st St. Pete’s Business Contacts Centre opened in the Finnish city of Kotka. Today, the 2nd similar centre is opening in Turku. The chain is expanding: the BIZKON-Kotka is being added with BIZKON-Turku. More detail...

18:59
CHILDREN KILL THEIR PARENTS BECAUSE OF COMPUTER GAMES
4 young pals from the city of Tyumen loved playing computer games most of all. Especially they enjoyed it at night time when the prices in the local computer room were lower but anyway, there was a strong lack of money. Moreover it was not only the lack of money – the parents did not allow the guys to go out at night More detail...

17:06
ANDREI VALENTINOV: “SOMETIMES HISTORY MAKES TURNS WHICH ARE MUCH STRANGER THAN FICTION”
Andrei Shmalko, historian, specialist for Mycenaean culture and professor of Kharkov National University. At the same time he is Andrei Valentinov, the author of over a dozen of books and creator of a new genre – “kryptohistory” (a mixture of fantasy, folk-history, science fiction, detective story and real history – as you like it). More detail...

15:03
DANIEL MCADAMS: UNCLE SAM PLAYS THE BULLY IN BELARUS
Most Americans if told that several million of their tax dollars were being sent half way around the world to throw an election in favor of a senior member of the Soviet Communist Party, would go ballistic. At the least they might wonder whether Bill Clinton and his left-wing ideologues were somehow still running foreign policy in Washington. More detail...

14:45
J. DAVID GALLAND: DISBAND NATO AND THROW AWAY THE KEY
More than ten years after the fall of the Berlin Wall, !NATO forces, as always led by the Americans, are dancing more than the “Texas Two-Step” in their role of self definition and sought after justification, on the world stage. NATO’s image is that of a crippled man with his rear aflame; in great fear that his head will follow suite. More detail...

14:00
PRISONERS DUG UP THEIR CELL’S BOTTOM WITH SPOONS. SOME NEW DETAILS OF THEIR ESCAPE FROM “BUTYRKA” PRISON APPEARING
In Russia search of the three dangerous criminals who escaped from “Butyrka” prison two days ago is being continued. The track of the criminals was lost: last time people similar to them were noticed in Zelenograd district. Since that there was no information about the criminals. More detail...

13:10
ALAN BOCK: THE 'WAR' METAPHOR
Why is it that politicians, and particularly American politicians, seem so compliant and lackadaisical about the ramifications of endorsing war as a means of doing business? More detail...

12:10
10 YEARS AGO SUPREME SOVIET OF CHECHNYA BROKE UP. DJOKHAR DUDAEV PROFITED BY RUSSIAN AUTHORITIES’ INACTIVITY
A tragic anniversary could be celebrated yesterday: 10 years have passed since coup d’etat in Chechen Republic. On September 6, 1991 a group of armed people leaded by Djokhar Dudaev and Yaragi Mamadaev rushed into the building of Sepreme Soviet of Checheno-Ingushetia and threatening with weapon forced the deputies to stop their work. More detail...

11:30
DEAR READERS,
We invite you to take part in the column Letters to the Editor . We are very interested to know your opinion of articles (or themes) published in PRAVDA.Ru. On out part, we are ready to publish all your comments (and even your feelings provoked by our materials and our correspondents - ranging from strong disapproval to warm welcome) - just the way they are. We are against censorship, and we welcome criticism, including the criticism levelled at us. At the same time, we would appreciated it, if your criticism would be constructive, not insulting. You could send your comments to English version of PRAVDA.Ru or directly to the English editor of PRAVDA.Ru Inna Novikova. Welcome to this column Letters to the Editor

11:04
SECRET PENTAGON GERM FACTORY
The Pentagon has confirmed that it has been developing deadly germs in secret locations, a clear violation of a 1972 agreement on biological warfare. More detail...

11:03
PROTESTANTS ATTACK CATHOLIC CHILDREN IN NORTHERN IRELAND
In an act of savagery which reminds one of the scenes of human butchery in Central Africa, a Protestant Unionist group have launched a bomb attack on Catholic Primary School children walking to school through “their area” in Belfast. More detail...

11:02
E-SPYING
The European Union concluded a debate on a new espionage network yesterday, in which it was decided to adopt a system similar to the American network, Echelon. More detail...

20:43
PREHISTORIC PEOPLE WERE AFRAID OF STOMATOLOGISTS, TOO
US archaeologists have discovered the earliest yet evidence of stomatology advances in the dawn of human civilization. Man-made tiny holes have been found in molars of several humans who lived 8,000-9,000 years ago in the area currently incorporated in Pakistan. The holes are believed to have been bored to soothe tooth pain. More detail...

19:51
JAIL–BREAKERS STILL NOT FOUND
“This is an awful person who is not supposed to be free…There has not been a more heinous crime for all the years of my work”. These are the words about Vladimir Zhelezoglo - one the prisoners who has recently escaped from the Moscow jail More detail...

16:10
ANDREI CHERKASOV: NEW TURNS IN NOTORIOUS CASE OF NADEZHDA FRATTI
Nadezhda Fratti is the former citizen of the town of Volzhsky (close to the city of Volgograd) but currently she is an Italian citizen. Fratti’s business was connected with children-orphans. The orphans were sent to Italian families – the ones which agreed to adopt them More detail...

14:55
VITAMIN C KILLS SMOKERS
Cigarettes and vitamin C are incompatible: big doses of this vitamin could be dangerous for smokers. More detail...

14:24
CRIMINALS WHO ESCAPED FROM “BUTYRKA” PRISON NOT DETAINED YET
In Moscow and in Moscow region three criminals still are being searched for who escaped yesterday from Butyrskaya prison in Moscow. It must be remembered, that the three prisoners sentenced to death made a hole in their cell’s bottom and escaped. More detail...

Pravda.RU:Best articles on this week:Main

2001.09.03
EVERYDAY LIFE OF THE ISS: CONTRA-SEX FOR ASTRONAUTS. IS THERE SEX IN THE ORBIT?

2001.09.01
AND YOU CAN MARRY AGAIN!

2001.09.05
US TERRORISM IN BELARUS

2001.09.05
ONE MORE HUMAN BEING KILLED BY NIKOLAI SOLTYS

2001.09.03
BUSH MILLS ON THE ROCKS

2001.09.02
TIMOTHY BANCROFT-HINCHEY: EAST TIMORESE GIVE WORLD A LESSON IN DEMOCRACY

2001.09.04
UNITA ATTACK AGAIN IN ANGOLA

2001.09.01
AIRBUS INCIDENT IN AZORES ISLANDS

2001.09.03
E-DAY: THE MOST AUDACIOUS MONETARY ACT EVER

2001.09.05
COLOMBIA’S REVOLUTIONARY ARMED FORCES DISPLEASED WITH OUR CORRESPONDENT’S ARTICLE

 
Calendar
Mo Tu We Th Fr Sa Su
1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
Aug/2001
Web-publishers

Add PRAVDA.Ru headlines to your site for free!

Search
Google

Search WWW
Search pravda.ru

Accidents
All Entertainments In Murmansk To Be Cancelled During Lifting Of Kursk Submarine

Former USSR
Over Half Russians Do Not Care Who Will Win In Presidential Election In Belarus

Diplomatic
The Admiral Tributs Ship Of Russia's Pacific Fleet Sails Off To Japan On Unofficial Visit

Macedonian First Deputy Foreign Minister Says Russian Military Presence In Macedonia Not Discussed

Russian Foreign Minister: Measures Against Balkan Extremists Require UN Security Council's Authorization

Economics
International Council For Trans-Siberian Transport Holds Session, Poland Hosting

Russian Cabinet Debates Civil Service Reform

Fun
In Dubai swimsuits and swimming trunks interdicted

Hot spots
Macedonian First Deputy Foreign Minister Says Russian Military Presence In Macedonia Not Discussed

Letters to the Editor
Charles Byrnell concerning the article "Protestants attack catholic children in Northern Ireland"

Politics
Over Half Russians Do Not Care Who Will Win In Presidential Election In Belarus

Unity Political Council Chairman Accuses Right-Wingers Of Cynical Political Demagogy

Regions of Russia
International Council For Trans-Siberian Transport Holds Session, Poland Hosting

All Entertainments In Murmansk To Be Cancelled During Lifting Of Kursk Submarine

World
Russian Foreign Minister: Measures Against Balkan Extremists Require UN Security Council's Authorization

Mozambique : 189 children infected with AIDS every day

Argentina on the brink

Advertising on Pravda.RU





CLICK HERE TO VISIT THE HITBOX.COM





 
Copyright ©1999 by "Pravda.RU". When reproducing our materials in whole or in part, reference to Pravda.RU should be made.