Uruguay's Economy minister Danilo Astori said there's no indication forecasting the fall of Uruguayan exports international prices in the framework of the current global surge of commodity prices.
The United States Federal Reserve cut on Wednesday its key interest rate 25 points from 2.25% to 2% as it aims to avoid a possible US recession. It is the seventh rate cut since last September, when the rate was cut from 5.25% to 4.75% and in the range of what markets were expecting.
Brazil's Ibovespa stock exchange index jumped to a record on Wednesday after Standard & Poor's unexpectedly raised the country's credit rating to investment grade. S&P Ratings Services Brazil's debt rating announcement from BB+ to BBB- sent domestic stocks soaring 6.3% hitting a new intraday record of 67,854.
The United States economy expanded at an annual rate of 0.6% in the first quarter of 2008, exceeding analyst expectations of an annualized growth rate of 0.2%.
The marked slowdown in global activity, United States on the brink of recession and persisting financial turmoil are expected to have an impact on the European Union in the next 24 months with slower economic growth and higher inflation.
The IMF Board of Governors adopted by wide margin far-reaching reforms to increase the voting shares of a majority of the 185 member countries particularly the large emerging economies.
The United Nations Secretary General Ban Ki-moon is setting up a task force to tackle the global food crisis. Ban Ki-moon said the world faced widespread hunger, malnutrition and social unrest on an unprecedented scale because of soaring food prices
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.