In spite of a surge in expenditure in the last quarter Uruguay managed to keep to its fiscal target in 2007 with a budget deficit equivalent to 0.34% of GDP, below the 0.5% established in the Central Bank financial program.
The MoD reported that RFA Lyme Bay was preparing to sail to Tristan da Cunha, where urgent repairs to the main harbour are required.
Ben S. Bernanke's decision to lower interest rates 1.25 percentage points last month will end the dollar's two-year slide, according to the world's biggest currency traders.
Chile announced several measures to prop the competitiveness of Chilean exports that have been particularly affected by the international collapse of the US dollar and which has motivated reiterated claims from the industry.
United States has seen the first decline in employment since August 2003, providing fresh evidence that the US economy could be entering a recession. Employers cut 17,000 jobs from their payrolls in January, Labor Department figures showed. Economists had been expecting a rise of 80,000.
Chile finished 2007 with a record fiscal surplus of just under 14.5 billion US dollars, government officials acknowledged Wednesday. This figure represents 8.7% of Chile's overall GDP, which is also an all-time record.
With forecasts of more snow and ice, chaos in the transport and energy systems that has left millions stranded or without electricity and water, Chinese authorities are desperately trying to convince people the situation is under control.
Brazil's Finance Minister Guido Mantega said that for the moment there's no reason to change the country's growth estimate of 5% for 2008, in spite of global recession fears, which he believes will impact most on developed countries.
United States economic growth fell sharply in the last three months of 2007 as the credit crunch took effect, according to the latest figures from the Department of Commerce. Overall growth rate in 2007 was 2.2%, the weakest since 2002.
The FBI is investigating at least fourteen companies embroiled in the sub-prime mortgage crisis as part of a crackdown on improper lending and inside information according to The Wall Street Journal.