Mexico govt sees cost of rebuilding economy after Hurricane Stan at 1.85 bln usd
President Vicente Fox estimated the cost of rebuilding the economies of the Mexican states hit by Tropical Storm Stan at 20 bln pesos (1.85 bln usd).
Stan slammed ashore as a hurricane in Mexico’s state of Veracruz on Tuesday.
Seven states in Mexico’s south – the poorest region of the country – were affected by the storm. At least 24 Mexicans were confirmed dead.
An estimated 2 mln people were affected by the storm, with 300,000 evacuated to emergency shelters and other temporary housing.
Source: forbes.com
Stan fading fast over Mexico
Once mighty Hurricane Stan "is now a rainmaker," and should weaken even more over the high terrain of southeastern Mexico, forecasters said Tuesday night.
At 10 p.m. EDT, the National Hurricane Center in Miami said the broad center of what was just Tropical Depression Stan was over the state Oaxaca, Mexico.
Maximum sustained winds were near 35 mph, and Stan was moving southwestward near 3 mph. "Little motion (movement) is expected before dissipation," the center said.
Stan was expected to produce 5 to 10 inches of rain over portions of southeastern Mexico. The center warned of possible life-threatening flash
Hurricane Stan hits Mexico
Hurricane Stan slammed Mexico's Gulf coast Tuesday with high winds and heavy rain that closed Mexico's main oil ports before returning to a tropical storm.
Stan unleashed high waves, floods and mudslides, prompting Mexico to consider evacuating several thousand people from the state of Veracruz, The Australian newspaper reported.
State oil monopoly Pemex evacuated 270 workers at five oil exploration platforms in advance of Stan, which killed 35 people in El Salvador, Nicaragua, Guatemala and Honduras during the weekend as a tropical storm.
It was unclear whether the Mexican oil port closures at Dos Bocas, Cayo Arcos and Coatzacoalcos
Mexico, Brazil, Argentina: Latin America Local Bond Preview
The following events and economic reports may influence trading in Latin American local-currency bonds today. Bond yields are from the previous session.
Argentina {ARGENT }: Argentina's tax collection rose 41 percent to 11.3 billion pesos in December, led by a surge in income tax revenue, Economy Minister Felisa Miceli said yesterday. Tax revenue rose more than 20 percent to 119.2 billion pesos in all of 2005, she said.
The yield on Argentina's 5.83 percent bond maturing in 2033 was unchanged at 6.28 percent, according to Banco Mariva in Buenos Aires. {ARARGE03E121
Stan Hits Central America and Mexico, 231 Deaths
The number of casualties because of hurricane Stan in Central America and Mexico has risen to 231.
Search and rescue teams in Guatemala have taken 40 bodies from the debris of a landslide caused by the hurricane and in a small coastal village 20 more people died in another landslide, reported the country’s civilian defense spokesman Benedicto Giron.
Along with the corpses found in Guatemala, the total number of hurricane victims is 231 including the death toll in Nicaragua, El Salvador, Costa Rica, Honduras and Mexico.
Source: zaman.com
Actor Mel Gibson donates U.S.$1 million to Mexico's hurricane relief
Actor Mel Gibson, sporting a long beard and no socks, met with Mexican President Vicente Fox on Wednesday and donated US$1 million to help Mexico recover from Hurricane Stan.
Fox's office said Gibson asked to meet with Fox because he wanted to help after Hurricane Stan hit the Gulf state of Veracruz, where the actor is filming a movie.
The hurricane and related storms left more than 1,500 dead or missing in Central America and Mexico. Another storm, Hurricane Wilma, was expected to come close to hitting Mexico's Yucatan peninsula late
Central America, Mexico and Haiti: Floods from Hurricane Stan Emergency Appeal No. 05EA021
THIS EMERGENCY APPEAL SEEKS CHF 1,568,000 (USD 1,230,694 OR EUR 1,012,648) IN CASH, KIND, OR SERVICES TO ASSIST 10,250 FAMILIES (SOME 51,250 BENEFICIARIES) FOR 6 MONTHS
CHF 250,000 (USD 196,188 or EUR 161,463) has been allocated from the Federation’s Disaster Relief Emergency Fund (DREF) to begin relief operations in response to the floods. Unearmarked funds to reimburse the DREF are encouraged.
A separate appeal seeking CHF 487,000 for 21,000 people (4,200 families) for floods and volcanic activity in El Salvador was launched on 5 October 2005
The situation
Mexico, Venezuela, Chile: Latin America Local Bond Preview
The following events and economic reports may influence trading in Latin American local-currency bonds today. Bond yields are from the previous session.
The central bank raised its growth forecast for the economy next year to 6.2 percent from 4 percent on Dec. 29. The central bank will rebuild international reserves to a level comparable to the total available before Argentina's $9.8 billion payment to the International Monetary Fund, bank president Martin Redrado said.
The yield on Argentina's 5.83 percent bond maturing in December 2033 fell 2 basis points to 6.31 percent on Dec. 29,
Official sees growth in Mexico economy
Mexico's economy could grow by 4 to 4.5 percent in the fourth quarter and 3.2 to 3.3 percent for the year, and the government will be able to offer pensions for the elderly poor in 2006, a government official said Wednesday.
Government institutions "have begun to give other services ... in ways that you are going to see soon," Eduardo Sojo, head of the presidential office of public policy, told a news conference.
"Pensions for elderly people who are in extreme poverty -- you'll see that next year," he said.
Outlining new anti-poverty initiatives, Sojo stressed that the
Hurricane Stan leaves 231 dead in Central America, Mexico
Rescue workers in Guatemala said they pulled at least 40 bodies from a massive mudslide and found 20 more dead in a swollen river, raising to at least 231 the number of people killed from five days of pounding rains after Hurricane Stan hit Central America and Mexico.
Officials expected the death to toll to climb as they searched for more than 150 others who were missing following the landslide in Solola, a town close to Lake Atitlan, 100 kilometres west of the capital, Guatemala City.
Along the country's Pacific coast, the Nahualate
Emergency in Guatemala, Mexico and El Salvador: Luck Mervil Supports Efforts to Provide Assistance to Hurricane Stan Victims Who Have Been Forgotten by International Aid
The committee to aid Hurricane Stan victims, represented by Mario Rene Henández, treasurer of the Canada-Guatemala chamber of commerce, Ana Gloria Blanch, director of the Centre d'aide aux familles immigrantes (Mexico), Ramon Quintanilla, director of the CEDESAL chamber of commerce (El Salvador), Marcel Tremblay, special advisor to Mayor Gerald Tremblay and responsible for intercultural relations for the City of Montreal, Paolo Tamburello, mayor of the Villeray - Saint-Michel - Parc Extension borough, Luck Mervil, spokesperson
