Stories for January 26th 2013

Saturday, January 26th 2013 - 21:31 UTC

IMF: Latam growth estimates contained because of Brazil’s poor performance

Overall for the region 2013 and 2014 are going to be good years, says IMF

The IMF downgraded growth estimates for Latinamerica in 2013 from 3.9% to 3.6%, mainly because of an anticipated poor showing of the region’s largest economy Brazil, according to the Fund’s latest report on the world economy prospects.

Saturday, January 26th 2013 - 21:23 UTC

Lagarde surprised at the ‘very slow’ recovery of the Brazilian economy

The IMF chief admits the country could be going through ‘a strong adjustment phase’

IMF Managing Director Christine Lagarde said she is unsure about Brazil’s economic outlook despite the country’s official estimate of 3.5% growth this year, since recovery is “very slow” as the 1% of 2012 showed.

Saturday, January 26th 2013 - 20:59 UTC

Major summit in Santiago with inverted roles: EU knocks on the door of Latam

Germany’s Merkel, Spain’s Rajoy, Brazil’s Rousseff and Mexican tycoon Slim have been announced at the summit

Representatives from sixty countries begin Saturday in Santiago de Chile the two day summit which breaks with recent tradition: Latin American countries, full of economic confidence, are hosting their European partners and are expected to volunteer to help with Europe’s economic problems.

Saturday, January 26th 2013 - 20:44 UTC

Mercosur/Paraguay controversy reaches EU/CELAC summit in Chile

Chilean Foreign minister Alfredo Moreno making the official announcement

Chile confirmed that Paraguay finally decided not to attend the EU/CELAC summit in Chile putting an end to a controversy when it emerged that several Mercosur and Unasur members insisted that the landlocked country should not be invited.

Saturday, January 26th 2013 - 19:01 UTC

EU27/CELAC trade experienced sharp decline in 2009 with strong recovery since

Bilateral trade in goods between the two blocks in nine months of 2012 was above 175 billion Euros

The European Union27 international trade in goods with the Community of Latin American and Caribbean States, (CELAC), has been characterised in recent years by steady growth between 2003 and 2008, a sharp decline in 2009 and a strong recovery since then.

Saturday, January 26th 2013 - 06:52 UTC

US NOAA identifies 10 countries that conducted IUU fishing in 2011-12

“Our work is critical to the economic viability of US fishing communities and the protection of US jobs” said Russell Smith from NOAA

As part of its overall efforts to ensure that the US fishing industry isn’t undermined by unsustainable or illegal activities, the National Oceanic and Atmospheric Administration (NOAA) has submitted a Congressionally mandated report identifying ten nations whose fishing vessels engaged in illegal, unreported, and unregulated (IUU) fishing in 2011 or 2012, or had ineffective measures to prevent the unintended catch of protected species in 2012.

Saturday, January 26th 2013 - 04:26 UTC

Spain’s jobless soars to 26%; 1.8 million households with no member employed

The economy contracted 1.3% in 2012 according to estimates from the Central bank

Spain’s unemployment rate shot up to a record 26% in the fourth quarter of 2012, leaving almost six million people out of work, the National Statistics Institute said on Friday. The rate rose from 25% in the third quarter as the country’s recession deepened.

Saturday, January 26th 2013 - 04:10 UTC

Chancellor Osborne will ‘not run away’ from UK economic woes despite triple-dip recession signals

Labour accused Osborne of being ”asleep at the wheel”

Chancellor George Osborne has vowed not to “run away” from Britain's economic woes amid fresh signs the UK is heading for an unprecedented triple dip recession. The first official estimate from the Office for National Statistics (ONS) revealed the economy shrank by 0.3% between October and December, slamming the recovery into reverse after the 0.9% growth seen in the previous quarter.

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