Economy
EconomyIMF Emergency financing mechanism has 200 billion USD
The International Monetary Fund, which has announced its readiness to act in support of nations hit by fallout from the global financial turmoil, is holding talks with several countries about possible new lending programs. According to an official release IMF has 200 billion US dollars ready for loans.
Tsunami sweeps across Latam markets, “blackest week”
Friday closed a tsunami impact trading week for Latinamerican markets accumulating massive losses as risk aversion and recession fears contagion from major markets spread to the rest of the world.
Mexico injected 13 billion USD in 2 weeks to support the Peso
The Mexican peso ended trading on Friday at 13.70 to the US dollar after having fallen to a record 14.50. The Mexican central bank supported the currency with 1.1 billion US dollars.
Long term future of rural Falklands under scrutiny
The long term future of rural Falklands has been placed in the hands of its small population.
Venezuela's budget based on petroleum at 60 USD a barrel
Venezuela's budget is forecasting 15% inflation and is based assuming oil prices of 60 US dollars per barrel next year, Finance Minister Ali Rodriguez told the National Assembly this week.
Global recession fears have Latam markets on free fall
Latinamerican markets plunged on Wednesday on fears of consequences from Argentina's plan to nationalize retirement funds spread to the region increasing risks of an already highly volatile global situation.
Argentine contagion helps Madrid market plummet 8%
Shares in Spanish companies with investments in Argentina slumped on the Madrid bourse on Wednesday after proposals to nationalize the country's pension funds were announced.
Ban Ki-moon to discuss global crisis with economists
Secretary-General Ban Ki-moon will meet with a group of eminent economists tomorrow as part of his evaluation of the impact of the global financial crisis on United Nations efforts to achieve the anti-poverty targets known as the Millennium Development Goals (MDGs)
PM Brown admits the “r-word” is round the corner
Prime Minister Gordon Brown finally admitted that Britain is likely to suffer a recession - hours after a similar warning from the Bank of England sent the value of the pound plunging to a five-year low.
The dark side of Brazil's “brotherly” policy in the region
Brazil has sent a strong message to those (restless) neighbours that could “threaten the country”, according to reports in the Sao Paulo press.
