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Lokayukta Justice Santosh Hegde is fed up with the government’s inaction on his report on illegal mining. Mining is helping only the ‘mafia’ and is of no use to the state or country, he said on Saturday.
The government has increasingly relied on meeting itsfinancing needs with direct bond sales to government agencies,particularly the ANSES pensions agency that Boudou headed. Boudou has said in recent days the government is working onmeasures aimed at guaranteeing the country's return to creditmarkets, which has been hampered by the failure to reach a dealwith the holdouts. Private estimates put real inflation at least twice theofficial annual rate of 5.3 percent through June CREDIT MARKETS Latin America's No. 3 economy faces some $20 billion indebt obligations through the end of 2010, and it remainslargely shut out of global credit markets since it defaulted on$100 billion in debt in 2002.
Its current debt load stands at about $140 billion, butthat does not include about $20 billion in defaulted bonds heldby "holdout" creditors who rejected the terms of a 2005 debtrestructuring. Economic analysts, renegade state statistics workers andthe opposition say the government has been low-ballinginflation since early 2007 for political gain and to save moneyon its CER debt repayments. Moreno is the chief enforcer of the government's unorthodoxanti-inflation policies, and he is widely seen as mastermindingthe manipulation of economic data. He has yet to name his policy team and has indicated thatcontroversial Domestic Commerce Secretary Guillermo Moreno willstay on, scuttling financial markets' hopes for a clear sign ofa change in direction.
Boudou, who was previously head of the state pensionsagency, was named as minister after President CristinaFernandez suffered a stinging defeat in a mid-term electionlast month. Some are going to be swappedand others repurchased," Boudou said. "They'll be an ample menu," he said as he left a meetingwith industry leaders. Economy Minister Amado Boudou, who took office two weeksago, had previously said the government wanted to unwind theso-called CER paper, which is at the center of a controversyover the country's official consumer price data "We're working on a swap of these bonds We're looking forthe most appropriate combination. * Inflation-indexed paper is 40 percent of debt load Bonds | Argentina * "CER" bonds at center of consumer price data controversy * Minister gives no details of possible proposals(Adds analyst quote, total debt figure) BUENOS AIRES, July 21 (Reuters) - Argentina will seek toswap and buy back the inflation-indexed bonds that account forabout 40 percent of its sovereign debt, the country's neweconomy minister said on Tuesday.
"I should point out that we do not expect improving markettrends," Wiseman told analysts during a call. VF shares rose 3.55 percent to $62.74 in after-hours tradeafter closing 1 percent lower at $60.59 on the New York StockExchange. (Reporting by Alexandria Sage; Editing by Tim Dobbyn andRichard Chang) Stocks France. "While we see some signs of stabilization occurring, weremain very cautious about the outlook for consumer spendingfor the balance of the year," Wiseman said. InApril it forecast a 2009 profit of $4.70 to $5.00 per share,which was significantly below its earlier view of $5.42 pershare. VF said on Tuesday that revenue and earnings in the secondhalf of the year would improve relative to those in the firsthalf, but warned that currency effects would remain a"significant impact" on the third quarter.
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