Stories for September 3rd 2009
Once Argentina “has done its homework”, IMF liquidity support comes overnight
If Argentina compiles with its homework and has good relations with international financial organizations, “credit is granted overnight” said Olivier Blanchard, the International Monetary Fund Economic Counselor and Director of the IMF Research Department during his visit to Buenos Aires for a two day conference on monetary policies.
Uruguay’s economic policy and Mercosur links set to change predicts Moody’s
The risk-rating agency Moody’s Economy anticipates that whoever wins in Uruguay’s October presidential election, the only certainty is that “there will be changes in economic policy” and in regional inter-action, including a review of Mercosur relations.
Brazil leaves rates unchanged confident of non-inflationary recovery
Brazil's Central Bank decided on Wednesday to keep its benchmark lending rate unchanged at a record low 8.75%. The monetary policy committee, Copom, voted unanimously to leave the so-called Selic rate steady, in line with analysts' expectations.
Antarctica’s Ridge A, world’s coldest, driest, calmest place on Earth
The search for the best observatory site in the world has led to the discovery of what is thought to be the coldest, driest, calmest place on Earth, a place where no human is thought to have ever set foot. The finding was detailed on August 31 in the Publications of the Astronomical Society.
Poll shows Tory leader Cameron as next British PM with 96-seat majority
Britain’s main opposition Tories could be heading for a 96-seat Commons majority at the next general election, a poll has revealed. Conservative leader David Cameron currently has a 42% share of the vote, with Labour trailing on 28% and the Liberal Democrats on 17%, according to the YouGov survey for The Sun newspaper.
G20 meeting anticipates clash over government spending and banks
In anticipation of the G20 Finance ministers meeting in London on Friday UK Chancellor Alistair Darling insisted that world governments need to keep spending to ensure recovery from the global economic crisis.
EU hedge funds regulations threaten London’ position as global financial hub
EU plans to regulate hedge funds are a “blatant attack” on London's role as an international financial centre, the mayor of the city has said. Boris Johnson added that suspicions ministers in Paris and Berlin were using the proposals to deliberately target London were “not unfounded”.
US loss of jobs slowing but unemployment still above 9.5%
A report from a private researcher in United States established that August saw US employers cut the smallest number of jobs in nearly a year. ADP reports 298,000 non-government jobs were cut during August, which is considerably less than the prior month (360.000).
Fed pleased with latest data but US recovery is still fragile
Federal Reserve policymakers were increasingly pleased by signs of improvement in the US economy but added that the recovery is still fragile, according to the minutes of their most recent meeting.
China first to buy 50 billion USD in IMF bonds
China has agreed to buy the first International Monetary Fund bonds for about 50 billion dollars, the IMF said Wednesday. IMF managing director Dominique Strauss-Kahn and the deputy governor of the People’s Bank of China, Yi Gang, signed the agreement in Washington.
