Tuesday, April 27th 2010 - 18:13 UTC

UK Think Tank Warns About Drastic Spending Cuts After Election Day

Institute for Fiscal Studies Director, Robert Chote

All three British major political parties are failing to come clean on spending cuts that will need to be at least as deep as the 1970s, a leading think tank warned Tuesday. Repairing the public finances will be the 'defining domestic policy task of the next government', the Institute for Fiscal Studies said at a special election briefing.

Tuesday, April 27th 2010 - 06:08 UTC

Brazil will Impose Import Levies to Face “Cheap” US Dollar, Unless Accord is Reached

Minister Mantega concerned with low interest rates in developed countries

Brazil’s government may take additional steps to limit gains in the local currency Real should advanced economies favor policies that keep their currencies weak, Finance Minister Guido Mantega said.

Tuesday, April 27th 2010 - 06:03 UTC

US Judge Griesa Denies Request to Suspend Argentina’s Debt Swap

New York US District Judge Thomas Griesa

A US judge denied requests by a class of mostly individual bondholders to suspend or disapprove of Argentina's 20 billion US dollars debt swap.

Tuesday, April 27th 2010 - 05:55 UTC

Concerns with Inflation Anticipate Brazil will Raise Benchmark Interest Rate

Meirelles trusts inflation and higher interest rates will help cool domestic demand

Brazil’s next government will need to be “very serious” about keeping inflation within its target range so real interest rates can continue to fall, Central Bank President Henrique Meirelles said.

Tuesday, April 27th 2010 - 05:47 UTC

Argentina Insists that Official Statistical Information is “Trustworthy and Solid”

Deputy Economy minister Roberto Feletti admits controversial relations with IMF

Argentina’s Deputy Economy Minister Roberto Feletti said the Government “will not accept economic policies to be dictated” by the International Monetary Fund (IMF) and added that country's statistical information is “trustworthy and solid.”

Monday, April 26th 2010 - 21:16 UTC

Germany and France Strongly Condition Rescue Aid Package to Greece

Germany's Finance minister Wolfgang Schauble

Greece will not get its multi-billion Euro aid package until it commits to bigger economic sacrifices, Germany’s finance minister warned over the weekend.

Monday, April 26th 2010 - 05:24 UTC

Goldman Sachs Incriminating E-mails Surface in US Senate Investigation

The bank claims US senator Carl Levin was “cherry picking”

Investment bank Goldman Sachs executives boasted about the money the bank was making while the US housing market was collapsing in 2007, released company e-mails show.

Monday, April 26th 2010 - 05:12 UTC

Toyota Brazil is Recalling Locally Manufactured (as of April 2008) Corollas

The Japanese company has been operating in Brazil since 1958

Toyota Brazil has agreed to recall an unspecified number of Corollas locally manufactured because of the risk of sudden acceleration according to a statement from the country’ Ministry of Justice website.

Monday, April 26th 2010 - 01:36 UTC

World Bank Agrees to Increased Capital and Voting Power for Developing Countries

 WB president Robert B Zoellick facing the challenge of a new multi-polar global economy

The 186 countries that own the World Bank Group endorsed on Sunday boosting its capital by more than 86 billion US dollars and giving developing countries more influence.

Saturday, April 24th 2010 - 11:08 UTC

Exchange Rate Disorder

Professor José Antonio Ocampo

By Jose Antonio Ocampo – Two troubling features of the ongoing economic recovery are the depressed nature of world trade and the early revival of international global payment imbalances. Estimates by the International Monetary Fund and the United Nations indicate that the volume of international trade in 2010 will still be 7% to 8% below its 2008 peak, while many or most countries, including industrial nations, are seeking to boost their current accounts.


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