South American Economy ministers agreed in Montevideo on an initial credit turnover of 20 billion US dollars for the regional development Bank of the South as well as each country member's contribution and credit access.
The Paraguayan economy boosted by the faro sector Grez 6.8% in 2007, which is higher than originally forecasted, 6.4%, according to the country's Central Band president German Rojas.
Argentina's country risk according to JP Morgan signaled last Friday a new high, matching the June 2005 mark, following Standard & Poor's negative rating of Argentina's foreign debt.
China's preference for different types of meat and a growing demand for cereals and oilseeds have had a direct impact on the price of food world wide according to an expert from the Spanish bank BBVA, which has a strong influence and presence in Latinamerica.
Argentina's sunflower crop was greater than forecasted totalling 4.52 million tons, the largest of the last six seasons, according to Buenos Aires Grain Exchange. The total area planted was 2.636.000 hectares, with an average yield of 1.720 kilos per hectare, which is 2.5% over last year's crop.
Uruguay announced a package of measures to contain the effects of a collapsing US dollar in the local money market and to combat inflation. The local currency, Uruguayan peso, has appreciated almost 7% against the US dollar in the first four months of 2008 and has dropped to June 2002 levels which has caused concern among the country's exporters.
Two Argentine provinces, which are out of the Kirchners' political influence, have reported monthly inflation almost four times the official percentage, according to the latest releases from the Statistics and Census Office in Buenos Aires and its branches in Santa Fe and San Luis.
Latin America's economy will grow at 4.7% in 2008 compared with 5.7% last year, the United Nations Latin American and Caribbean Economic Commission, CEPAL, estimated this week, reaffirming growth targets trimmed in March.
Rice prices have ballooned to fresh heights in Asian trade amid concern that export bans by key producing countries will hit supply. Curbs are in place in India and Vietnam to protect domestic supply and there are fears that Thailand, the world's largest producer, could follow suit.
British Chancellor of the Exchequer Alistair Darling supported on Monday the Bank of England's £50bn plan to help prevent the credit crisis causing more damage to the UK banking system.