Stories for September 20th 2011
Beijing's plan to provide financial aid to the European Union is not contingent on Europe supporting a proposal that could protect China from trade sanctions, a Commerce Ministry spokesman said on Tuesday.
The global economic recovery is slowing, with world growth projected at 4% in both 2011 and 2012, down from over 5% in 2010, the IMF said in its latest forecast. And even this lowered projection counts on a lot going well.
Leading lawmakers in German Chancellor Angela Merkel's coalition have agreed a draft law on an enhanced Euro zone bailout fund to give a greater say to parliament in line with a court ruling earlier this month.
The IMF cut its growth forecast for the 17-nation Euro zone by nearly half a percentage point to 1.6% in 2011 and even weaker conditions are seen for next year with growth of just 1.1%. Currently the single currency region is scarcely growing at a 0.25% annual rate.
The IMF forecasts Uruguay’s economy will expand 6% in 2011 and 4.2% the following year. Estimates are in line with targets made public by Uruguay’s central bank.
President Barack Obama has outlined plans to reduce the US deficit and to kick-start economic growth. At the White House, he proposed cuts to healthcare benefits but said business and the wealthy must pay higher taxes.
Standard and Poor's downgraded its unsolicited ratings on Italy by one notch to A/A-1 and kept its outlook on negative, a major surprise that threatens to add to concerns of contagion in the debt-stressed Euro zone.
The Brazilian government displayed this weekend thousands of troops with air support along the borders with Argentina, Paraguay and Uruguay in a concerted effort to combat organized crime.
Five Uruguayan marines from the UN peacekeeping mission in Haiti accused of abusing a young Haitian were sentenced to jail by military justice for serious misconduct and omissions while on duty.
Sales in Uruguay’s main livestock show, --the 2011 edition of Expo-Prado--, totalled 765.000 dollars and 245.5 animals which is a significant improvement over the previous year (in numbers and dollars) but also because Uruguayan genetics was exported to Mercosur neighbours.