Development banks could provide up to 200 billion dollars in financing to help poor nations deal with shockwaves caused by the European sovereign debt crisis, World Bank President Robert Zoellick said on Tuesday.
The global economy is on the verge of a new and deeper jobs recession that may ignite social unrest, the International Labour Organization (ILO) has warned. It will take at least five years for employment in advanced economies to return to pre-crisis levels, it said.
Loan disbursements at Brazil's state development bank BNDES will miss their initial target for the year, reflecting a rapid economic slowdown in Latin America's largest economy, the lender's top executive said on Monday.
Brazil’s net debt fell in September to its lowest level since 1997, as a 15% decline in the real last month boosted the value of the country’s near-record 353 billion dollars in foreign currency reserves.
Japan sold the Yen for the second time in less than three months after it hit another record high against the dollar Monday, saying it intervened to counter excessive speculation that was hurting the world's No. 3 economy.
The worsening of the world crisis is a factor that plays in favour of advancing negotiations for the European Union and Mercosur cooperation agreement and strategic association, said Socialist Euro Deputy Luis Yañez from Spain currently visiting Montevideo.
A set of stamps created by Falkland Islands artist Tony Chater entitled Penguins, Predators and Prey will be released on November 16.
Over 23 million are unemployed in the 27 countries of the Euro zone, the statistical office of the European Union Eurostat informed Monday.
The package of measures agreed by European leaders this month to stem their debt crisis will only work “if all elements are implemented”, German Deputy Finance Minister Joerg Asmussen said in an interview Monday.
Argentine Vice-president elect and Economy Minister Amado Boudou reiterated Monday that the new rules for foreign currency purchase in effect as of today are aimed towards discovering the “origin” of funds as opposed to the “destination” of the money.