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English News Blog for  Argentina News Blog November Archive 

President vetoes glacier law

By Website Introductions at 11/17/08 18:23

Green activists may be against the act, but Argentine Cristina Fernandez has already vetoes a decree passed in Congress that will ban mining and oil drilling in the nation's glacier.

According to the president's decree and an official, there are imprecisions in the bill that will affect other activities--not just mining and oil drilling. More on that here on Reuters.

News: Argentina vetoes glacier law that curbed mining | Industries | Industrials, Materials & Utilities | Reuters

Argentina's Financial and Economic Roller Coaster

A country's economy is essential to the function of a country. Usually a leader of a country has to make a very hard decision on whether to make policies for the people or for the economy. Some of the countries have made its people go on rallies to protest against an anti-people policy of a government, but this was not the case of Argentina. The past and as of the current presidents of Argentina has made policies and projects which gives back more to the working class and common people rather than focusing on economic matters which made Argentina's experience a financial roller coaster this past few years.

To learn more about this, read the rest of it here:

News: Argentina's Financial Roller Coaster - washingtonpost.com

Pension fund managers submit counter-proposal to industry nationalization

The Argentine stock market is now facing record lows after investors were scared by the government proposal to nationalize all private pension funds in the country.

In a move to counter the proposal, these private pension managers will submit their own proposals to introduce more conservative policies to convince the government not to nationalize the industry.

News: UPDATE 1-Argentina pension funds try to avoid nationalization | Markets | Bonds News | Reuters

S&P credit rating lowered

During these times when getting capital from external times is difficult, who would want their credit rating to go down?

Due to political and fiscal conditions in the country, Standard & Poor's Rating Services cut back the credit rating of Argentina from 'B' to 'B-', or six levels below investment grade. This was greatly affected by the government's proposal to nationalize public pension funds.

News: Argentina's credit rating lowered amid strife - International Herald Tribune