IMF Creates $100B Loan Fund, Argentina Excluded · The International Monetary Fund will offer $100 billion in condition-free, three-month loans to countries battered by the financial crisis, but immediately discounted struggling Argentina as a recipient because it has not had a financial review in more than a year. (WSJ)

Argentina To Seize Pension System Amid Crisis · Argentina's leftist government proposed late Tuesday to nationalize its $30 billion private pension system, a move that could allow it to raid new contributions to cover short-term debts. The state is facing an estimated $11 billion shortfall amid the credit crisis and plummeting commodity exports. (WSJ)

Cuba Suffers Food Shortage In Hurricanes’ Wake · Hurricanes Gustav and Ike destroyed 30% of Cuba's crops, and now the government has rationed sales of fruits and vegetables at farmers markets. It has accepted $17 million in food aid from 71 countries. (Prensa Latina)

Peru’s Garcia Accepts Government Resignation · Peruvian President Alan Garcia accepted the resignation of his entire cabinet over an ongoing corruption scandal regarding Petroperu and oil concessions. (BBC) He put on hold five contracts with Norway's Discover Petroluem.

Commodities Collapse Jeopardizes Latin America · As the global financial crisis cools demand for commodities, analysts project a collapse in Venezuelan oil, Brazilian soy bean and Chilean copper prices could jeopardize the prosperity of many Latin American economies that rely heavily on exports for government revenue. (Forbes, AP)

Argentine Farmers Threaten To Suspend Export · Farmers in Argentina resumed nationwide protests threatening to suspend grain and beef export unless they are given economic concessions. (BBC)

Politics Drives Brazil’s Deforestation · Deforestation increased by 133% since last month in Brazil's Amazon region, writes The Guardian. The former environmental minister, Marina Silva, quit when President Lula de Silva (her long-time friend) sided with state governors and pro-growth forces in his cabinet.  Mato Grosso State Gov. Blairo Maggi is the world's largest soya bean producer.

Venezuela Buys One Million Low-Cost Laptops · Venezuela will buy one million laptops based on the Intel Classmate as part of a $3 billion trade deal with Portugal. The laptops will include low-power Intel Atom chips, digital cameras and broadband capability. (BBC)

Russia, Venezuela To Cooperate On Energy · Russia and Venezuela have agreed to cooperate in oil and natural gas development. Presidents Dmitry Medvedev and Hugo Chavez met in Siberia Friday to ink a deal that also includes a $1 billion loan for Venezuela to buy Russian weapons. (Platts)

Nigerian Militants Claim To Destroy Key Pipeline · The Movement for the Emancipation of the Niger Delta, Nigeria's main militant group, says it has destroyed a key pipeline and a flow station in the country's south. (Platts)

U.S. Accuses Venezualan Officials Of Aiding Colombian Rebels · The Treasury froze assets of two senior Venezuelan officials accused of aiding Colombian rebels, escalating the diplomatic row with the left-wing adversaries in Latin America. (NYT) The State Department said it would expel the Venezuelan ambassador.

Cubans In Miami Call To Lift The Embargo · Moderate Cuban groups are calling for restrictions on family travel and remittances to be lifted temporarily to allow Cuban-Americans to aid their relatives in Cuba in the wake of destruction caused by Hurricane Ike and Gustav. (NYT)

Bolivia Expels U.S. Ambassador · Bolivian President Evo Morales has ordered the U.S. ambassador, Philip Goldberg, to leave the country after accusing him of fostering division in the nation by "conspiring against democracy". (LATimes) A State Department spokesperson called the accusations baseless. (Washington Post)

Two Russian Bombers Conduct Exercises In Venezuela · Two Russian bombers will carry out training flights in Venezuela for several days. On Monday, Russia said it may hold joint naval maneuvers with Venezuela in the Caribbean. (CNN) It is the first time Russian bombers have been sent to the Western hemisphere since the end of the cold war. (Christian Science Monitor)

Anti-Morales Protests Intensify In Bolivia · Demonstrators protesting President Evo Morales' plans to redirect gas revenues to poorer areas clashed with the police and stormed public buildings in eastern Bolivia. (BBC) Protesters are demanding more revenue for Bolivia's energy-rich eastern provinces and have threatened to cut a pipeline that feeds oil to Brazil. (BBC, CNN)