For Argentina, Brazil is a “decisive partner” in addressing the negative effects of the world economic crisis which has hit the United States and the European Union, said on Monday Argentina’s Deputy Economy minister Roberto Feletti.
China reiterated that an expected vote this week in the US Senate on a bill intended to pressure Beijing to allow its currency to raise if made into law would result in a trade war and hurt US-China ties.
Stocks rose sharply in Europe and in the US on Monday as investor sentiment were buoyed by a renewed pledge by France and Germany to come up with a plan to tackle the Euro zone debt crisis by month's end. International pressure has been building for bold steps from Europe to avert a global economic backlash.
US academics Thomas Sargent and Christopher Sims shared the 2011 Nobel Prize in economics for work that helps governments and central banks weigh up responses to crises -though it offers no immediate answer to current global problems.
Members of the Paris Club group of creditors want Argentina to repay an estimated 9 billion dollars in defaulted debt within three years and to make a big initial payment, Buenos Aires newspaper La Nacion reported over the weekend.
The leaders of Germany and France promised to unveil a new comprehensive package for solving the Euro zone's debt crisis by the end of the month, but offered no details and papered over differences on how to shore up European banks.
Chilean inflation rose 0.5% in September and the trade balance narrowed as falling copper output forced the first monthly year-on-year fall in exports in over two years.
Chinese automaker JAC Motors announced Friday it will invest 500 million dollars to build a factory in Brazil's north-eastern Bahia state its first outside China.
European banks may need more than 100 billion Euros to withstand the sovereign debt crisis, Ireland estimated, ahead of a meeting between German Chancellor Angela Merkel and French President Nicolas Sarkozy to work out how to recapitalise the lenders.
The Inter American Development Bank, IDB, has a special reserve for emergency loans of 3 billion dollars “in the event of a major global financial crisis”, said Roberto Vellutini, IDB Vice-president following meetings in Paraguay.