Posted inDaily Brief

Argentina Raises Wages

Argentina´s Labor Minister Carlos Tomada said state workers, including members of the military, have seen their wages increase 20 percent in the last two years. The higher wages cost the government an extra $300 million a year and are creating fears of higher inflation, which is currently above the government´s target of 5-8 percent. Interior Minister Anibal Fernandez said in April the government didn’t plan to grant any across-the-board wage increases this year.

Posted inDaily Brief

Join Dr. Martín Redrado, President, Banco Central de la República Argentina and Eduardo Elsztain, Chairman and CEO, IRSA

in Buenos Aires, July 27-28 2005 for LatinFinance’s Cumbre Financiera Argentina. Apply for an invitation today for this high-level, invitation-only summit created to advance discussion and debate on the imminent recovery in the Argentine private sector and challenges to international investment. Please visit www.latinfinance.com/argentina

Posted inDaily Brief

Join Dr. Martin Redrado, President, Banco Central de la República Argentina and Esteban Buljevich, Principal Counsel, International Finance Corporation

in Buenos Aires, July 27-28 2005 for LatinFinance’s Cumbre Financiera Argentina. Apply for an invitation today for this high-level, invitation-only summit created to advance discussion and debate on the imminent recovery in the Argentine private sector and challenges to international investment.

Posted inDaily Brief

Edenor Stake Sold

Electricité de France (EDF) sold 65 percent of its stake in Argentine electricity distributor Edenor to the investment fund Dolphin, headed by Marcelo Mindlin, for $100 million. EDF will keep 25 percent of Edenor and 10 percent will remain in the hands of employees. The deal must still be approved by government regulators.

Posted inDaily Brief

Join Riordan Roett, Director of Western Hemisphere Program, Johns Hopkins University and Dirk Donath, Founding Partner, Pegasus Capital

in Buenos Aires, July 27-28 2005 for LatinFinance’s Cumbre Financiera Argentina. Apply for an invitation today for this high-level, invitation-only summit created to advance discussion and debate on the imminent recovery in the Argentine private sector and challenges to international investment.

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