Peru's Central Bank raised the country's economic growth forecast for 2007 from 5.7 to 6.8%, following a 7.9% expansion in 2006, which was the highest since 1995.
Argentine president Nestor Kirchner tried Thursday to disengage this week's rise in the country's risk rating and drop in sovereign bonds, from the controversy over the ousting of the head of the Statistics and Census Office (INDEC) responsible for calculating inflation.
The European Central Bank, ECB, decided Thursday to keep its key interest rate on hold at 3.5%, but pointed out that strong vigilance remains essential to ensure that risks to price stability over the medium term do not materialize.
The Bank of England left interest rates unchanged at 5.25% following a surprise rise last month. In January, the Bank increased rates from 5.0% to 5.25% in an attempt to curb inflation, which had hit an 11-year high of 3% the month before.
United States Federal Reserve Chairman Ben Bernanke said on Tuesday that while on average economic well-being has increased for US citizens the degree of inequality in economic outcomes has raised as well.
Latinamerica could experience a trade boom in the next five to ten years if China sustains its current rates of growth said Andres Solimano from the UN Economic Commission for Latinamerica, CEPAL.
Venezuela is preparing a package of measures to contain inflation which begun 2007 with a 2% in January, announced Ricardo Sanguino chairman of the Congressional Finance Committee.
Global warming, a phenomenon now confirmed worldwide by scientific journals and international forums, will have devastating effects on the Chilean agricultural industryÃÂ¢€”perhaps the country's most important economic activity. The most threatening problem is the likely appearance of agricultural pests, from which Chile has heretofore been free.
Chile's Exporters Association (Asoex) proposed last week the introduction of foreign workers to make up for a scarcity of labour in Chile's agricultural workforce. Critics accused Asoex president Ronald Brown of seeking to profit from poorly paid foreign labour on temporary contracts.
Several Mercosur members have offered Bolivia to unite efforts and help control as soon as possible the outbreak of foot and mouth disease. Bolivia declared last week a state of emergency following the confirmation of outbreaks in three counties in Santa Cruz province.