Stories for May 17th 2011
The United States dollar status as the world’s single reserve currency will end by 2025, according to a new report by the World Bank.
Almost 81 million children under 18 suffer from poverty in Latin America which is equivalent to 45% of that age group according to a study by the Economic Commission for Latin America and the Caribbean (ECLAC) and the United Nations Children's Fund (UNICEF).
Argentina and Brazil agreed Tuesday to resume ‘constructive’ trade negotiations to overcome the current bilateral dispute which surfaced following the latest protectionist measures that threaten exports from the two main Mercosur partners.
Brazil announced it was imposing non automatic import licences on synthetic fibre blankets from Paraguay, Uruguay and China, according to an official communiqué from the Brazilian Ministry of Development, Industry and Foreign Trade released Tuesday.
Whatever happens next June 5 when the Peruvian presidential run-off between Ollanta Humala and Keiko Fujimori, none of them will have a clear support in the 130 seats Congress which will force alliances as has been the recent legislative history of the Andean country.
Brazil’s former Foreign Affairs minister Celso Amorim said that the next IMF Managing Director must come from an emerging economy if Dominique Strauss-Kahn, currently in custody in New York on alleged rape charges finally looses his job.
A group of Brazilian banks and funds have created a company called Sete Brasil that will build seven deep-water rigs for state-run oil company Petrobras offshore exploration campaign, Petrobras announced on Monday.
Brazil’s Vale, the world’s leading exporter of iron ore is moving strongly into other minerals with the opening of its first nickel operation in Onca Puma to the southeast of Pará state which is considered one of the largest ferronickel production plants in the world.
Dominique Strauss-Kahn, (DSK) the head of the International Monetary Fund, may be forced to leave his post after being accused of trying to rape a maid in his New York hotel room. IMF is currently under John Lipsky Acting Managing Director.
Cuba has given all small businesses the authority to hire (and fire) labour and will loosen other regulations governing private enterprise as part of the broader measures to reform the island’s economy and boost production, the government said in a statement.