. Medical and Hospital News .




.
POLITICAL ECONOMY
Critics say Argentina hides inflation
by Staff Writers
Buenos Aires (UPI) Jun 15, 2011

disclaimer: image is for illustration purposes only

Argentina's opposition groups say the government of President Cristina Fernandez de Kirchner hides real inflationary trends in the country and plays down key statistical data.

The allegations come from four of the major opposition parties that took exception to a version of the Latin American country's economic performance put out by the Indec national statistical bureau.

None of the Indec statistics on inflation can be trusted, said the administration's opposition critics, all lawmakers from congress, in published comments.

The charge coincides with reports of chronic child employment and poverty and high incidence of joblessness and underemployment.

The lawmakers said the inflation rate in the country reached 1.5 percent in May based on analysis provided by eight economic consultants whose reading of the actual economic trends wasn't allowed to be aired. The lawmakers said they considered it their duty to inform the public of data which "the government tries to hide."

Based on those independent analyses, they said, the rate of inflation in Argentina over the last 12 months reached 23.5 percent. In a sarcastic reference to the official data suppliers, the lawmakers said the public could expect to hear from Indec the inflation rate was no more than "between 0.7 and 0.8" percent.

Lawmakers criticized Domestic Market Secretary Guillermo Moreno for presiding over the practice of underreporting economic trends in the country.

Retailers were often intimidated, sometimes at gunpoint, and forced to declare lower prices for consumer items, the lawmakers charged. There was no immediate government response to the allegation.

The lawmakers said their own data were collected by independent economic consultants, who had often faced government pressures and criticism of their methodologies because their research produced results markedly in contrast to data issued by the statistical bureau.

Some of the alternative data collectors were fined for daring to release information that challenged the government version, the lawmakers said.

Opposition critics have accused the government of destroying Indec's reputation by forcing it to release questionable data.

"Not content with the destruction of the official figures and a highly technical institution that was Indec, the government is now going after the private economic consultants," said Silvana Giudici, who leads a congressional commission on freedom of expression.

Lawmaker Gustavo Ferrari said the opposition group planned to release alternative statistics for Argentina's true economic conditions at least once a month.

Argentina's economic performance and issues of poverty and inequitable distribution of wealth have been major topics of dispute between the Fernandez administration and the opposition.

The Argentine Catholic University in a report said one-in-six Argentine children aged 5-17 was forced to work to help support the family.

An estimated 17.6 percent of children in that age group from the urban areas were forced to work, said the report.

Data from the second half of 2010 indicated that almost 8.2 percent of under-17 is involved in intensive domestic activities, such as looking after brothers and sisters, cooking and other domestic chores.

Another 12.3 percent of the children are self-employed or work to earn money for the family.

International Labor Organization figures showed unemployment in Latin America would remain around 7 percent this year after a little help from economic recovery.




Related Links
The Economy

.
Get Our Free Newsletters Via Email
...
Buy Advertising Editorial Enquiries


Ecuador negotiating a $2 bn loan from China
Quito (AFP) June 15, 2011 - The socialist government of President Rafael Correa is negotiating the terms of a $2 billion loan from China, Finance Minister Patricio Rivera said Wednesday.

The money would be in addition to a $1 billion loan from China agreed to in 2010, Rivera said.

The state news agency Andes said both sides were negotiating details of an eight-year loan at a 6.9 percent interest rate, with a two to three year grace period.

In 2010 the Eximbank of China gave Ecuador a $1 billion loan to finance oil, infrastructure, mining and telecommunications projects.

The loan had a fixed annual six percent interest rate and four years to pay it back.





. 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
BoJ holds rates, expands growth-sector lending
Tokyo (AFP) June 14, 2011
The Bank of Japan on Tuesday said it would expand a programme of lending to companies in growth areas with a new $6 billion credit line to support the post-quake economy. The BoJ's policy panel voted unanimously after a two-day meeting to keep its key rate unchanged between zero and 0.1 percent, and expand last June's 3 trillion yen ($37.4 billion) lending facility to encourage banks to chan ... read more


POLITICAL ECONOMY
Japan to compile second reconstruction budget

Murakami criticises Japan's nuclear policy

State of Japan's nuclear disaster

Japan's tsunami and nuclear disaster: a timeline

POLITICAL ECONOMY
Helping shape space-based technology policies

Russia plans to launch six Glonass satellites in 2011

India plans to make GPS more accurate with GAGAN

EU to launch Galileo satellites this fall

POLITICAL ECONOMY
WHO: 1 billion disabled worldwide

Eating dirt can be good for the belly

Australia back-tracks on asylum kids

Deportees' wives adjust to life in Mexico

POLITICAL ECONOMY
How spiders breathe under water

Can evolution outpace climate change?

New Parallelization Technique Boosts Our Ability To Model Biological Systems

Why animals don't have infrared vision

POLITICAL ECONOMY
UN AIDS summit aims to treat 15 million

Cost of AIDS drugs to keep falling: experts

Africa demands more help at UN AIDS summit

BGI Sequences Genome of the Deadly E. Coli in Germany and Reveals New Super-Toxic Strain

POLITICAL ECONOMY
US presses China over activist site attacks

Tibet again closed to foreigners: travel agents

Protesters clash with police in China

Man gets death in China case sparking Mongol unrest

POLITICAL ECONOMY
Chinese ship released by pirates: EU

South Korea jails Somali pirates

US Navy recruits gamers to help in piracy strategy

Danish crew free Somali pirate hostages

POLITICAL ECONOMY
China's May foreign direct investment up 13.4%

Critics say Argentina hides inflation

Foreign, China buys of US securities strong in April

British official inflation unchanged at 4.5% in May


Memory Foam Mattress Review
Newsletters :: SpaceDaily Express :: SpaceWar Express :: TerraDaily Express :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News
.

The content herein, unless otherwise known to be public domain, are Copyright 1995-2011 - Space Media Network. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. 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