Argentina's industrial output growth slowed in August to 5.2% year-on-year, while month-on-month economic activity contracted in July for the first time in 13 months, the government said on Friday.
“The recapitalization of European banks is something that is ongoing, it is something that is already happening,” Commission spokesman Olivier Bailly told a regular briefing.
Greek Finance Minister Evangelos Venizelos was quoted by two newspapers as saying an orderly default with a 50% haircut for bondholders was one of three possible scenarios for resolving the heavily indebted euro zone nation's fiscal woes.
Guatemala will purchase six Brazilian military aircraft Super Tucano, radars and other equipment to combat the narcotics trade traffic of which the Central American country is considered a crucial link between South America and the United States.
Uruguay is reconsidering the situation and links with Mercosur, given the recent trade obstacles and tariffs imposed by Mercosur senior partners Brazil and Argentina, announced President Jose Mujica in an interview.
The Argentine Central Bank Governor Mercedes Marcó del Pont dismissed the IMF’s warning on the risk of overheating economies in developing countries.
History's first sovereign default came in the 4th century BC, committed by 10 Greek municipalities. There was one creditor: the temple of Delos, Apollo's mythical birthplace.
Asian stocks have fallen on Friday, with some indexes driving towards their worst weekly losses since 2008. The Group of 20 nations said they were ready to preserve stability in the financial markets.
US Treasury Secretary Timothy Geithner said that the European debt crisis and the political divisions in the United States were the biggest threats to the global economy.
The head of the International Monetary Fund, Christine Lagarde, said on Thursday that she wants a “constructive dialogue” with Argentina, while at the same time warned that she is not willing to make any “concessions” in terms of the quality of official data the IMF receives from member countries.