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Cuban US dollar ban takes effect
Cuba has ended circulation of the US dollar in an attempt to resist a tightening US blockade.

Dollar transactions that have been allowed for the last 11 years were replaced by convertible Cuban pesos, which are worthless outside Cuba.

Cubans will have to pay a 10% surcharge to exchange US currency.

Cubans can still keep dollars at home and hold dollar bank accounts, but President Fidel Castro has banned the use of dollars in transactions.

The Cuban leader announced the change of policy accusing Washington of "mafia-like" moves limiting cash and people flows to the island.

Cubans have seen their economy deteriorate in recent years because of the embargo and the loss of European communist allies.

They have been queuing at special exchange counters to swap dollars for convertible pesos, which will be worth $1 in Cuba but will be worthless abroad.

The change will be felt by everyone in Cuba, where many everyday transactions were carried out in dollars.

In a sign that authorities had underestimated how many dollars were being horded, the deadline for converting the currency was extended until 14 November. After that, the 10% surcharge will apply.
 

Colombia president approves extraditing drug lord to US
Colombian President Alvaro Uribe on Tuesday approved the extradition of one of the country's most notorious drug lords, former Cali cocaine cartel boss Gilberto Rodriguez Orejuela, to the United States for trial.

Led by Rodriguez Orejuela and his brother Miguel, the Cali group had grown into the world's top drug cartel in the late 1980safter the downfall of its rival Medellin.

In the 1990s, Cali once controlled 80 percent of cocaine trade in the world, which brought them 8 billion US dollars in profit every year.

Rodriguez Orejuela, a 63-year-old former banker, was known for his shrewdness. He earned the nickname of "The Chess Player" for his ability to outwit the police.

The Colombian government once mobilized some 20,000 troops and policemen in a nation-wide hunt for the Rodriguez Orejuela brothers.

Rodriguez Orejuela was first arrested in June 1995 in his house at his hometown Cali, the country's third largest city where the cartel was based. His brother was captured later.

The brothers received a sentence of 15 years in prison, which was shortened to 7 years in November 2002 due to their "good behavior" during the term. They were released shortly afterwards.

However, several months later, Gilberto Rodriguez Orejuela was once again put into prison for "other crimes pending sentences" in March 2003.

US anti-narcotic organizations believe the Cali, responsible for 80 percent of cocaine and the large amount of Heroin in the US, has been the most powerful drug cartel ever existed.

The US had been striving to extradite the two brothers and havethem tried in the US.
 


Chilean court decides to continue proceedings against Pinochet
The Chilean Supreme Court said on Tuesday that it had decided to continue the proceedings against former dictator Augusto Pinochet.

As part of the decision, Monica Maldonado, prosecutor of the court, suggested that judge Sergio Munoz attend the petition of Spanish judge Baltasar Garzon to confiscate Pinochet's assets found in Riggs Bank of the United States.

Maldonado indicated that her suggestion conforms to Article 76 of the Civil Proceedings Code.

It is also based on the norms of the Inter-American convention on the transaction of rogatory letters, and the Treaty of Extradition and Criminal Judicial Assistance signed between Chile and Spain, she added.

Meanwhile, the Criminal Tribunal of the Court sent the plenum of the Court of Appeals of Santiago a petition of Argentine judge Maria Servini to interrogate Pinochet for his involvement in a murder case.

Servini's petition was focused on the investigation of the murder for Carlos Prats in Buenos Aires, when he was a former commander of the Chilean army.

Pinochet, who took control of Chile by ousting constitutional President Salvador Allende in 1973, was arrested in London on Oct.16, 1998, after Garzon issued an arrest warrant to have him extradited to Spain on charges of torture, terrorism and genocide. He was later released because of his poor health conditions.

The former ruler and his security agents face hundreds of charges of homicide, kidnapping and torture in Chile.

In late October, Garzon sent the Chilean tribunals an international rogatory letter in which he asked for information about Pinochet's assets deposited in other countries.
 


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Argentine VP says Hu's upcoming visit is "a historic event"
Argentine Vice-President Daniel Scioli has said Chinese President Hu Jintao's upcoming visit is "a historic event" and relations between Argentina and China are of "great importance" to the future of the Latin American country.

"In the same year when President Nestor Kirchner visited China,President Hu's visit to our country is a historic event," Scioli said Monday. President Kirchner paid a six-day state visit to China in June.

Scioli said the economic and trade ties between Argentina and China are complementary, and both sides will strengthen exchanges in the field.

State Secretary of Information Enrique Alberstur also welcome Hu's visit with high praise.

"The Argentine government and people are looking forward to President Hu's upcoming visit," he said in an interview with Xinhua.

"The visit not only is an important event for Argentina and China, but has far-reaching impact on the whole Latin American region," Alberstur said.

Alberstur dismissed the so-called "China threat," adding that Argentinians see "China hope" instead.

"China's rapid development has brought us new hope," he said.

Alberstur said Hu's visit will definitely further boost the development of bilateral ties.

The Argentine government and its people welcome investment from Chinese enterprises, hope to expand trade and economic cooperation with China and to enhance mutual understanding between the peoples of the two countries through more cultural exchanges, he added.

Argentina's business circle welcomes Hu's visit and sees it as an opportunity.

Julio Werthein, chairman of the Argentina-China Chamber of Commerce, said on Tuesday that Hu's visit will be an important opportunity for Argentine enterprises. "China is a very good, reliable and serious partner," he said.

Cooperation projects between enterprises of the two countries will play a positive role in Argentina's economic development, Werthein said.

Jorge Aguello, chairman of foreign affairs commission of Argentina's lower house, said the consensus reached by the two countries can be understood as South-South cooperation, which willhelp the development of the Mercosur (Common Market of the South) and other Latin American countries.

Hu is scheduled to visit Brazil, Argentina, Chile and Cuba on Nov. 11-23 and attend the 12th Informal Leadership Meeting of the Asia-Pacific Economic Cooperation to be held on Nov. 20-21 in Santiago, capital of Chile.

 
LATIN AMERICA NEWS  
Wednes
day 10 November 2004 

Today's Stories:
Cuban US dollar ban takes effect
Colombia president approves extraditing drug lord to US
Chilean court decides to continue proceedings against Pinochet
Argentine VP says Hu's upcoming visit is "a historic event"


Cubans have rushed to exchange money before the deadline.  (AP foto)


Many Cubans rely on dollar remittances from relatives in the US.  (AP foto)

 
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