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Wednesday, April 7, 2010 as of 11:14 AM ET

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Julio Cesar

Argentine economy official denies peso devaluation rumors, says no 'atomic bomb' in works

A top Argentine official denied on Friday that the government plans to devalue the peso amid rumors that drastic official actions are looming.

"We are not going to take any explosive measures," Deputy Economy Minister Axel Kicillof said at a news conference.Argentina's economy is under pressure from rising inflation and slowing trade, and people have been increasingly trading their pesos for U.S. dollars to shelter their earnings.Currency controls aimed at reducing rampant tax evasion have fueled anxiety about the economy, accelerating capital flight and discouraging investment. After years of booming growth, businesses of all kinds are slowing down.Kicillof insisted Argentina is well-positioned to confront these challenges, with nearly $47 billion in central bank reserves, more than enough to meet a $2.3 billion bond payment due in August.He raised the issue as he accused opposition news media of trying to instill panic in a population that remembers losing two-thirds of its wealth a d...

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  2. Juve rolls over Roma to move three points clear

    Juventus rolled to a 4-0 home win over Roma on Sunday to move three points clear of second-place AC Milan at the top of Serie A.The home side wasted little time in s...

  3. Julio Cesar to miss first Brazil match in two years

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  6. Juve closes gap on Milan

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  7. Juventus tops Inter to keep pace in title race

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  8. Ronaldinho included on 51-strong preliminary list for Brazil's Olympic squad

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  9. Basel leaves it late to shock Bayern

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  10. Inter and Palermo share points in eight-goal thriller

    Diego Milito scored four times for Inter Milan 4 draw at the San Siro on Wednesday.Andrea Mantovani started the scoring barrage in the 16th minute when he put Palerm...

  11. Inter's winning run halted by Lecce

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  12. Nagatomo header powers Inter past Genoa

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  1. King Carl of Nottingham: Domination sets up challenging series

    Every now and then, you just know.Based on the research I'd done and live fights I'd seen heading into last week, I honestly couldn't imagine a circumstance where a ...

  2. Viloria TKOs Romero to keep WBO belt

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  5. Colombian shocker: Lawmaker allegedly helps plan colleague's kidnapping

    Even Colombians accustomed to treachery and deceit after more than a half-century of civil conflict and drug-related violence were stunned by the arrest of a one-tim...

  6. Brazil starting goalkeeper Julio Cesar practicing normally again after back injury

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  7. Honduras midfielder Julio Cesar de Leon ruled out of World Cup with leg injury

    NELSPRUIT, South Africa (AP) — Honduras midfielder Julio Cesar de Leon has been ruled out of the World Cup with a right leg injury.Team officials say the hard-tackli...

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