The Argentine government ratified it won’t postpone the new legislation on imports as requested by local business leaders and minimized the current conflict with Brazilian industrialists who have bitterly complained about the new restrictions.
Finance Minister Fernando Lorenzo said that Uruguay’s economy in 2011 expanded an estimated 6%, the ninth year running of sustained growth, and the budget fiscal deficit was 0.8% of GDP.
The Greek government published a list of the country’s worst tax evaders on Sunday, after months of warning those same evaders to pay up or risk being named and shamed.
The European Union banned imports of oil from Iran on Monday and imposed a number of other economic sanctions, joining the United States in a new round of measures aimed at deflecting Tehran’s nuclear development program.
IMF chief Christine Lagarde urged on Monday European governments to increase their financial firewall to prevent Greece’s troubles from ensnaring bigger countries like Italy and Spain.
The middle class in Brazil during the last decade expanded to reach 90 million out of a population of almost 200 million, according to paper from consultants Datafolha.
Spain’s economy contracted in the fourth quarter and will shrink 1.5% this year, the Bank of Spain estimated, undermining government efforts to cut the budget deficit amid the second recession in two years.
China will face bigger challenges in the Year of the Dragon its Prime Minister Wen Jiabao warned Saturday, as he pledged economic reforms to improve wealth distribution, state media reported.
Venezuelan President Hugo Chavez said on Sunday that his government plans to buy new Embraer jets from Brazil as well as used Airbus jets to expand his country's state airline Conviasa.
Fifteen foreign airlines operating from Argentina will have to report to the powerful Home Trade Secretary Guillermo Moreno a proposal to reduce their US dollars overseas remittances particularly to suppliers and services contracted overseas. It is estimated that these airlines remit a billion US dollars annually.