Economy

Thursday, May 19th 2011 - 10:45 UTC
Brazil creates Financial Stability Committee to reduce ‘systemic risk’ and support the currency

Brazil’s Central Bank announced Wednesday the creation of a Financial Stability Committee to improve supervision of the nation's financial industry and reduce “systemic risk.”
Thursday, May 19th 2011 - 10:40 UTC
Opposition call for disclosure of twenty-fold increase in Brazil’s chief of staff assets

Revelations of a several times surge in the personal wealth of Brazilian government's influential chief of staff have triggered controversy and could drag on and become a major headache for President Dilma Rousseff.
Thursday, May 19th 2011 - 10:33 UTC
America’s glossed decade

By Andres Velasco, Former Finance Minister of Chile.
The Inter-American Development Bank declared last July that this would be “Latin America’s Decade.” A couple of months later, The Economist endorsed that idea, which has since been repeated by countless apologists and experts.
Thursday, May 19th 2011 - 07:30 UTC
Uruguay makes presentation in Seoul to attract Korean investors

Uruguay’s sound economic and stable political environment were underlined by the country’s Deputy Minister for Public Works and Transport during a high level business forum to attract investors to Latin American which was held in the capital of South Korea, Seoul.
Thursday, May 19th 2011 - 07:13 UTC
Brazil’s top industry organization head calls Argentine minister “cry-baby”

While Argentine and Brazilian officials are involved in a ‘constructive dialogue’ to overcome trade disputes the head of the powerful Sao Paulo Federation of Industries, FIESP, Paulo Skaf said that Argentine Industry minister Debora Giorgi tends to “over-cry” the restrictions imposed on car imports to Brazil.
Thursday, May 19th 2011 - 06:36 UTC
Government support for Brazil’s meat industry, one of the world’s main exporters

The world’s largest beef producer, Brazil’s JBS announced its board agreed to boost its capital by as much as 3.48 billion Real (2.15 billion US dollars) through a private placement with Brazil’s state economic and social development bank.
Wednesday, May 18th 2011 - 16:57 UTC
European Parliament stresses ‘desirability’ of EU/Mercosur balanced trade agreement

Current trade negotiations between the European Union and Mercosur dominated the opening speeches at of Eurolat (Europe/Latin America Parliaments) Fifth Plenary Session which is taking place in Montevideo.
Wednesday, May 18th 2011 - 16:46 UTC
Argentina’s poor cousin? Not Uruguay

The following piece by Jude Webber writing for the Financial Times explains the different approach by the two neighboring countries to the windfall earnings of the commodities boom.
Wednesday, May 18th 2011 - 16:41 UTC
Greece warned it must redouble efforts otherwise (but following step is not clear)

The IMF warned Greece it must redouble reform efforts to avoid derailing its fiscal program, key to dealing with a huge debt mountain.The sternest IMF warning since a 110 billion Euro EU/IMF bailout a year ago pulled the troubled Euro zone member back from the brink of bankruptcy was delivered as European officials raised the possibility of a Greek debt restructuring.
Wednesday, May 18th 2011 - 16:28 UTC
Brazil satisfied with measures to cut ‘torrential inflow’ of US dollars

Brazil’s Finance Minister Guido Mantega said dollar inflows into the country have returned to a “reasonable” level, after the government took steps to stem a flood of foreign money.