The number of Cubans working in the private sector continues to rise and now includes over 300,000 as a result of President Raul Castro government’s economic reforms that have been implemented since last October.
Dollar inflows into Brazil are returning to normal levels, and the Brazilian Real will start to depreciate once interest rates in the US and Europe start to rise, said Brazil Finance Minister Guido Mantega. He also anticipated tax reforms to boost Brazilian competitiveness.
Argentina and Peru are the top recipients of Chilean overseas investments in the service sector according to report released last week covering a two decade period from 1990 to 2010.
Economic activity in Argentina expanded 7.8% in March compared to the same month a year ago and 0.5% over February, according to the provisional percentages from the government’s National Statistics Institute, INE.
Greece’s credit rating was cut on Friday three levels by Fitch Ratings, which said that even a voluntary extension of its bond maturities being studied by EU policy makers would be considered a default.
Italy’s Treasury said it will “intensify” structural changes in the economy and push ahead with measures to balance the budget by 2014 after Standard & Poor’s said its debt rating is at risk of a downgrade.
European leaders raced Saturday to nominate a successor for fallen IMF chief Dominique Strauss-Kahn before a G8 summit in France next week, with French Economy Minister Christine Lagarde in pole position.
India will be launching negotiations for a comprehensive economic cooperation agreement (CECA) with Mercosur although it will first “expedite” talks for a preferential trade agreement with the South African Customs Union (SACU).
Argentina posted a primary budget surplus 1.97 billion Pesos (455 million US dollars) in April, up 4.8% from the 1.88 billion Peso surplus a year earlier, the government said on Thursday.
Tens of thousands of Spaniards angry over unemployment protested for a sixth day, ahead of Sunday's local elections in which the ruling Socialists are expected to suffer heavy losses.