Anti-Wall Street protesters vowed to keep up their fight on Sunday despite the arrests of more than 700 people the previous day for blocking traffic lanes on the Brooklyn Bridge in an unauthorized protest.
Brazilian President Dilma Rousseff made on Friday her strongest call yet for the central bank to continue cutting borrowing costs. At an event in Sao Paulo she said it was “inadmissible” for policy makers not to take into account the possibility of a recession and even a depression in the global economy.
Achieving investment grade in the current global scenario is “not critical” for Uruguay since the country has sufficient financing and operates in world markets as “if it had a better rating than it actually has”, said Economy minister Fernando Lorenzo.
Chile’s peso posted its biggest monthly drop since Lehman Brothers Holdings Inc. collapsed as a slump in copper dimmed trade prospects for the metal’s biggest producer. The peso sank 1.3% to 519.75 per US dollar on Friday.
Policymakers have lost control of the economic crisis and financial markets are forcing the world into a depression, George Soros said on Friday, urging Europe to create a common Treasury, recapitalize its banks and protect vulnerable states.
Argentina's construction activity rose 7.3% on the year in August, as builders and private investors continued to benefit from a booming economy and high inflation.
Brazil’s budget surplus before interest payments narrowed in August to its lowest in nine months even as the central bank relies on fiscal policy to help fight the fastest inflation in six years.
The role of the Yuan as an international currency is “inevitable” and it is most feasible that Latin American countries will begin accumulating foreign exchange reserves in that currency forecasted an Argentine expert in foreign relations.
The Chilean group Arauco, an affiliate of the pulp and paper Copec Enterprises announced on Thursday that together with its European partner they had subscribed 1.354 billion dollars in loans for the construction of a pulp plant in Uruguay.
Uruguay’s Central bank kept its benchmark interest rate unchanged as policymakers focus on bringing inflation back to target in anticipation of possible impacts from a global slowdown.