Chile's Finance minister said one month's fiscal deficit is no problem and minimized the impact of the strong increase in government expenditure in October as in most of the other nine months.
The US National Bureau of Economic Research said Monday that the US has been in a recession since December 2007. The NBER said that the deterioration in the labour market throughout 2008 was one key reason why it decided to state that the recession began last year.
United States President-elect Barack Obama nominated Monday his former rival, Hillary Clinton, as his secretary of state. Mr Obama described the former first lady as a woman of tremendous stature who had his complete confidence.