Southern Exposure

Desde as Entranhas dos Labirintos Latinos.

Thursday, November 06, 2003

A couple of pieces of good news for Latin America

Telefónica de España has annouced that it will invest U$D 701.3m (about 2b Argentine pesos) to extend and upgrade its infrastructure in Argentina, tempted by prospects of 7% growth for the next year, while Brazil has renewed and expiring $14bn accord with the IMF.

These are somewhat significant news, as there have been some strong words crossed between privatized utilities and the government in Argentina, and serious criticism from supporters of Brazil's government regarding dealings with the IMF.


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