Stories for September 20th 2011
Beijing says financial aid to Euro zone has ‘no preconditions’
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.
IMF lowers global 2011/12 growth estimates, but warns things can get worse
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.
(Paymaster) Germany needs Parliament approval on deciding Euro zone bailouts
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.
Euro-zone growth forecasts plummet: 1.6% this year and 1.1% in 2012
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.
Good grades for Latam in IMF report; Uruguay’s forecasted growth: 6% in 2011
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.
Obama outlines tax the rich and reduce deficit plan; Republicans call it ‘class warfare’
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.
S&P downgrades Italy’s rating by one notch with negative outlook
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.
Brazil deploys 7.000 troops along southern borders to combat organized crime
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 sentenced to jail for ‘gross misconduct’ in Haiti
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.
Best Angus bull at Uruguay’s Prado Show sold for 45.000 dollars to Argentina
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.
