On presenting a review of his eight years in office, Brazilian president Lula da Silva forecasted that Brazil would become the world’s fifth economy by 2016. He also underlined that under his administration combating hunger had become a “national cause” and for him a personal pride.
In what is considered a historic ruling the Inter-American Court of Human Rights from the Organization of American States held the Brazilian state responsible for the forced disappearance of 62 alleged members of the Araguaia guerrilla movement- a small armed band of communists and Trotskyites crushed by military operations between 1972 and 1974.
Moody's rating agency threatened Wednesday to downgrade Spain's credit rating, hammering markets as it warned of a 170-billion-Euro refinancing challenge ahead in 2011.
The huge tabular blocks of ice that frequently break off Antarctica get swept towards the Atlantic and then ground on the shallow continental shelf that surrounds the 170km-long island of South Georgia.
Ireland's parliament on Wednesday approved (81 to 75) a multi-billion Euro EU/IMF bailout package in the face of opposition threats to renegotiate the deal to force losses on some senior bondholders in Irish banks.
Argentina has surpassed neighbouring Brazil as the world's largest exporter of football players, a trend that may not be a good thing for the country's domestic game. Players had become assets to be sold off to repay club debts, one agent said, while the growing exodus of Argentina's best young players is leaving a void in the local game.
Mercosur could end up with a High Representative post following this coming presidential summit in Foz de Iguazu. According to Brazilian sources the initiative has been discussed with partners Argentina, Uruguay and Paraguay and should be approved next Thursday/Friday.
The US economic recovery is still too soft to bring down the country's high level of unemployment, the Federal Reserve warned on Tuesday. The central bank made the comment as it reaffirmed its commitment to continue purchasing 600 billion in bonds to stimulate the economy.
Mercosur full member countries with the exception of Brazil will have the best growth performance in the region this year, according to the annual report from the UN Economic Commission for Latin America and the Caribbean, Cepal which was announced this week in Santiago de Chile.
Uruguay’s beef exports dropped in volume but increased in value during the first eleven months of 2010, with Russia for a second consecutive year as the top client, according to the latest release from the National Meats Institute, INAC.