Economy

Wednesday, April 11th 2012 - 06:38 UTC
Paraguayan economy forecasted to suffer a strong contraction this year

The economy of Mercosur junior member Paraguay, is set to remain flat or even suffer a slight contraction in 2012 after several years of sustained growth announced on Tuesday the country’s central bank.
Wednesday, April 11th 2012 - 02:13 UTC
Half a million Argentine tourists ‘invaded’ Chile during the first quarter of 2012

In the first quarter of this year, 1.2 million foreign tourists arrived in Chile, which represents a 14% increase over the same period a year ago, reported the Under Secretary of Tourism Jacqueline Plass.
Wednesday, April 11th 2012 - 02:06 UTC
Brazil will bring up Europe poultry-meat subsidies at next Mercosur/EU trade round

Brazil has given a clear indication of its intention to attack European export subsidies for poultry-meat the next time Mercosur and the EU meet to discuss a possible cooperation and trade agreement.
Wednesday, April 11th 2012 - 00:38 UTC
Bernanke says more bank regulation is needed to ensure stable financial system

US Federal Reserve Chairman Ben Bernanke said banks need to have more capital at hand in order to ensure the financial system is stable. Bernanke said regulators were taking steps to force financial institutions to hold higher capital buffers, even if they allow for a long period of implementation to prevent any market disruptions.
Wednesday, April 11th 2012 - 00:30 UTC
IMF analyzes impact of household debt and soaring house prices on recessions

Housing busts and recessions are more severe and last for at least five years when they follow a big run-up in household debt, according to a study released by the International Monetary Fund. For that matter, the IMF has urged governments to consider “bold” interventions to reduce household debt levels and stimulate growth.
Tuesday, April 10th 2012 - 23:17 UTC
Brazil deepens technology cooperation with Massachusetts Institute of Technology

Brazil's President Dilma Rousseff on Tuesday launched an initiative to deepen ties with the prestigious Massachusetts Institute of Technology (MIT). After meeting Monday at the White House with President Barack Obama, Rousseff continued her short visit to the United States with meetings in the Boston area where MIT is based.
Tuesday, April 10th 2012 - 23:10 UTC
US confirms poor soy crops in Argentina and Brazil; prices soar to 2008 levels

Drought in major soybean producers Brazil and Argentina cut their production more deeply than expected the US government said on Tuesday in a report that drove prices to near their highest since 2008.
Tuesday, April 10th 2012 - 16:30 UTC
Brazil targets a dollar floor of 1.80 Reais and questions private banks attitude

Having a floor of 1.80 Real to the US dollar is no great thing, but it is a target to sustain said Brazil Development, Industry and Foreign Trade minister Fernando Pimentel referring to the latest announcements to promote Brazilian industry battered by a strong currency and massive inflow of ‘cheap’ imports.
Tuesday, April 10th 2012 - 07:10 UTC
Rousseff complains about US expansionist monetary policy during meeting with Obama

Brazilian president Dilma Rousseff complained about US monetary policy and expressed concern that sanctions against Iran could backfire in a meeting with President Barack Obama on Monday, highlighting strains between the continent’s biggest economies.
Tuesday, April 10th 2012 - 06:54 UTC
Uruguay will enjoy “positive discrimination” in bilateral trade with Argentina

Argentina and Uruguay presidents Cristina Fernandez and Jose Mujica agreed Monday evening to discuss their trade differences in the framework of Mercosur and promote “positive discrimination” measures for Uruguayan exports to help compensate the restrictions imported to all imports by the Argentine government.