. Energy 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




Memory Foam Mattress Review

Newsletters :: SpaceDaily Express :: SpaceWar Express :: TerraDaily Express :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Get Our Free Newsletters
Space - Defense - Environment - Energy - Solar - Nuclear

...





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
USGS Ready To Start Landsat 8 Science Program

Orbital-Built Landsat Satellite Launched

LDCM 'Doing Great' in Orbit

US launches Earth observation satellite

POLITICAL ECONOMY
Boeing Awarded USAF Contract to Continue GPS Modernization

A system that improves the precision of GPS in cities by 90 percent

System improves GPS in city locations

Boeing to modernize U.S. Air Force GPS net

POLITICAL ECONOMY
Lungs of the planet reveal their true sensitivity to global warming

Southwest regional warming likely cause of pinyon pine cone decline

Tree die-off triggered by hotter temperatures

Taiwan's 'King of the Trees' fights for the forests

POLITICAL ECONOMY
Herty Advanced Materials Opens First New Pellet Mill

California is the Top State in US for Advanced Biofuel Companies

Newly discovered plant structure may lead to improved biofuel processing

Hydrothermal liquefaction - the most promising path to a sustainable bio-oil production

POLITICAL ECONOMY
Sign of the times: Saudis go solar

Panasonic Teams With Power-One For Solar Inverters

New world record efficiency for thin film silicon solar cells

New Material Promises Better Solar Cells

POLITICAL ECONOMY
Spotting the invisible cracks in wind turbines

Global wind energy capacity grows 19 per cent in 2012

New framework for wind energy assessments

Gone with the wind: French scheme targets farting cows

POLITICAL ECONOMY
China mine blast kills 17: state media

POLITICAL ECONOMY
US slams 'horrific' toll of Tibet self-immolations

Tibetan monk's burning marks 100th immolation bid

Dodging the censors in China

Tibetan burns himself to death in China: reports




The content herein, unless otherwise known to be public domain, are Copyright 1995-2012 - 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