Unites States banking authorities and regulators who during the nineties recommended Latinamerica to closely monitor its financial system apparently forgot to look at home and this has led to the current financial crisis, said Uruguayan economist Enrique Iglesias
In the first six weeks of 2008 the average price of Uruguayan ovine meat exported to Brazil averaged 2.593 US dollars per ton, which is 17% higher than in the same period of 2007, according to the latest edition of the official publication from the Uruguayan Wool Secretariat (SUL).
Middle income families in United States should calculate that raising a child born in 2007 to adulthood will demand an estimated 204.060 US dollars in food, housing and education costs, according to an annual report from the US Department of Agriculture.
Argentina's foreign debt stood at the end of 2007 at 123.197 billion US dollars, a 13.3% hike over the 108.762 billion of 2006, according to the latest report from the country's Statistics and Census Institute, Indec.
United States bakers are feeling the pinch of higher wheat prices and have been visiting Washington warning about the possible consequences for the US consumer if the current price level persists, reports FarmPolicy.com (*).
United States economic growth is grinding to a halt, but the Euro zone is doing relatively well so far, according to the latest assessment from the Organisation for Economic Cooperation and Development.
Although the Latin American economy isn't immune to the crisis in the United States, it's in a better position than 10 years ago and Central America and the Caribbean will feel the effects more than South American countries, said World Bank vice president Pamela Cox this week in Bogota.
Nobel Prize winning economist Joseph Stiglitz said the current financial crisis is the worst the world has seen since the Great Depression of the 1930s and the US Federal Reserve move to cut interest rates will not make much difference.
Brazil's trade surplus shrank to 882 million US dollars in February, less than one third of the same month a year ago 2.9 billion US dollars, according to the country's Ministry of Development, Industry and Foreign Trade.
Chile's Central Bank (BC) president Jose De Gregorio cautioned this week against speculation on the low US dollar, warning that, when the currency begins to regain value, such actions could cause significant financial losses.