Subscribe free to our newsletters via your
. Space Travel News .




POLITICAL ECONOMY
Argentine inflation up, presaging hardship
by Staff Writers
Buenos Aires (UPI) Feb 14, 2013


disclaimer: image is for illustration purposes only

Argentina's inflationary spiral worsened in January, with independent analysts estimating the monthly rate rise may be the highest in 22 months.

Critics of President Cristina Fernandez de Kirchner want the government to spend more time controlling inflation and promoting job creation. The government's burgeoning international diplomatic effort over the Falklands sovereignty claim is seen as diluting scarce financial resources that are needed for economic regeneration.

The independent financial analysis was leaked by opposition lawmakers who were able to access independent firms' data through the congressional freedom of expression committee. Independent financial analysts are banned from releasing their research except to Congress, and data are usually obtained through convoluted procedures pursued by opposition lawmakers.

The reported inflationary rate of 2.58 percent for January was calculated by analyzing the average of independent research results produced by private sector companies. That rate works out to about 26.28 percent per year.

The government has yet to release the January inflation figure but opposition critics say official versions of financial data are unreliable.

Argentina has been criticized by international bodies including the International Monetary Fund over the veracity of its statistics about economic indicators.

The government is also facing international censure over its alleged failure to address outstanding debt issues related to its sovereign defaults. Litigation by major creditors in U.S. courts has seesawed between rulings sympathetic to Argentina or its detractors.

U.S. President Barack Obama suspended Argentine participation in the Generalized System of Preferences in 2012, citing the country's failure to pay arbitration payments due to a number of U.S. firms that were affected by Argentina's 2002 devaluation.

Analysts said the reported inflationary spike was likely to set Argentina's angry labor unions again on the war path. Labor unions want higher wages to reflect price rises.

One government response has been to talk to supermarkets to lead them toward a price freeze for basic consumer commodities. Home appliance suppliers were also urged to hold down prices.

Fernandez has been telling the nation her policies of regenerating Argentine industry are paying off. She said a 1.9 percent expansion of the economy in 2012 was due mostly to industrial revival. Opposition critics want more data to support that claim.

Argentina's agriculture has witnessed several reversals because of drought, restrictive farm policies or external factors. Exports have also suffered because of price differentials triggered by overvaluation of the peso after a spate of capital inflows by opportunistic investor entities.

Government economists warned the peso's overvaluation could hurt Argentine exports outside the commodities sector.

.


Related Links
The Economy






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








POLITICAL ECONOMY
Recession-hit Japanese economy shrinks again
Tokyo (AFP) Feb 14, 2013
Japan's economy shrank for a third quarter at the end of 2012, data showed Thursday, leaving it mired in recession owing to weak export demand, but analysts and the central bank eyed a rosier outlook. Tokyo saw a 0.1 percent contraction in October-December from the previous three months, underlining the work ahead for Prime Minister Shinzo Abe's new government as it tries to boost growth whi ... read more


POLITICAL ECONOMY
Another Sea Launch Failure

ILS Concludes Yamal 402 Proton Launch Investigation

Ariane 5 delivers record payload off back-to-back launches this week

Eutelsat and Arianespace sign new multi-year multiple launch services agreement

POLITICAL ECONOMY
Rover Walkabout Continues at Cape York

Mars Rock Takes Unusual Form

In milestone, Mars rover collects first bedrock sample

How The World's Saltiest Pond Gets Its Salt; Implications For Water On Mars

POLITICAL ECONOMY
Building a lunar base with 3D printing

US, Europe team up for moon fly-by

Russia to Launch Lunar Mission in 2015

US, Europe team up for moon fly-by

POLITICAL ECONOMY
Public to vote on names for Pluto moons

The PI's Perspective: The Seven-Year Itch

New Horizons Gets a New Year's Workout

Halfway Between Uranus and Neptune, New Horizons Cruises On

POLITICAL ECONOMY
Earth-like planets are right next door

Direct Infrared Image Of An Arm In Disk Demonstrates Transition To Planet Formation

Kepler Data Suggest Earth-size Planets May Be Next Door

Earth-like planets may be closer than thought: study

POLITICAL ECONOMY
Magnetic shielding of ion beam thruster walls

NASA Set for New Round Of J-2X Testing at Stennis Space Center

NASA and ATK Complete Avionics and Controls Testing for SLS Booster

Flight Control Test-2 for SLS at ATK

POLITICAL ECONOMY
Welcome Aboard Shenzhou 10

Reshuffle for Tiangong

China to launch 20 spacecrafts in 2013

Mr Xi in Space

POLITICAL ECONOMY
Asteroid whizzes safely past Earth

Getting the Right Spin on a Close-Passing Asteroid

No asteroid risk in foreseeable future

A Possible Naked-eye Comet in March




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement