President Barack Obama said on Thursday that European Union leaders have laid a critical foundation to solve the Euro zone debt crisis with their deal announced Wednesday evening.
Ex-Goldman Sachs director Rajat Gupta has turned himself in to the FBI and pleaded not guilty in court to securities fraud before being freed on a 10 million dollars bail.
Brazil’s central bank said slowing global growth will have a large enough disinflation impact and allow policy makers to carry out “moderate” cuts to interest rates.
In a further attempt to ease the pressure on the dollar and decrease the outflow of the Central Bank's foreign currency reserves, the Argentine government ordered insurance companies to repatriate their foreign investments.
European Union leaders announced an agreement early Thursday in Brussels on debt crisis measures including a hard-fought deal with private sector investors to write down Greek bonds by 50%.
Latin America’s economy is forecasted to grow between 3.5% and 4% this year, which is less than previous estimates before the current global financial crisis, said World Bank representative for the region, Pamela Cox.
The World Bank Board approved a 260 million dollars loan to support the Uruguayan government’s reform program in order to consolidate growth with social equity and provide a line of financing to address the impact of the current uncertainty in global economic affairs.
The latest update of Uruguay’s livestock census for the year ending last June 30 shows the number of cattle is below eleven million and the flock at its lowest since colonial times with 7.3 million head.
The World Bank has offered a 3 billion dollars line of credit to Peru, backing President Ollanta Humala's plans for anti-poverty initiatives and sustained economic growth, a regional vice president said this week.
The Argentine Central Bank (BCRA) issued a special decree so that all export revenues generated by both mining and energy sectors remain in Argentina to be negotiated at the local foreign exchange market.