Reply #4: Both sides are cheering. It's apparently not over [View All]

[Rage for Order]

Argentine Farmers Suspend Strike
By DEBORA REY, Associated Press Writer

http://news.yahoo.com/s/ap/20080403/ap_on_re_la_am_ca/argentina_farmbelt_rebellion;_ylt=AlI1SYJ8MwDXKM_rmgrbkLNvaA8F

Nearly 20,000 farmers and ranchers in broad-brimmed cowboy hats and faded baseball caps cheered as leaders of Argentina's four main farm groups announced a temporary halt to the strike, the longest farm walkout in Argentina's history. They called on government to provide negotiators who understand the countryside.

"We are suspending this strike but no more than 30 days!" farm leader Mario Llambias shouted from atop a flatbed truck as farmers chanted "Argentina! Argentina!"

The strike was set off by an increase in soybean taxes from 35 percent to as much as 45 percent and new duties on other farm exports. Fabian Moine, a 43-year-old farmer who runs cattle and soybeans on a small farm in Entre Rios, said that high taxes, coupled with the high costs for planting, fertilizing, weeding and harvesting soybeans, leave him only a tiny profit. "Now they say they want to take up to 45 percent of the revenue," Moine complained.

Argentina's central bank reported a record $50 billion in reserves last month when the strike began. Kirchner used the reserves in 2005 to pay off nearly $9 billion in debt owed the International Monetary Fund. Strike leader Eduardo Buzzi charged that the government paid off the IMF early thanks to farmers, who now deserve to keep more of their profits. He said the current administration is now trying to use farm profits to pay off about $6 billion still owed creditor nations.

more at the link