Bank of England Governor Mervyn King has issued a rallying cry for joined-up international efforts to pull the global economy out of a sudden, severe and simultaneous downturn.
The US economist and Nobel Laureate Paul Krugman said Tuesday that Europe and the United States should at least double their fiscal efforts in order to salvage the global economy.
Sales of new cars and light trucks in Chile plunged 54.8% in the first two months of 2009 compared to the same period a year ago the country's automotive association ANAC said Tuesday.
The International Monetary Fund expects the global economy to contract 0.6% this year, according to forecasts provided on Tuesday by an IMF official in Lisbon.
The Uruguayan government is considering reducing working time to lighten the impact of the global financial crisis, local media reported over the weekend.
US Federal Reserve Chairman Ben Bernanke expects economic recovery in America next year, but has warned that the biggest risk to an upturn is whether there is sufficient political will to mend the financial system.
Mercosur is already feeling the effects of the global crisis in its foreign sector and economic activity, according to a report from the prestigious Argentine consultants Ecolatina.
Colombia’s Vice-President Francisco Santos said the country does not need any longer United States funds to combat the narcotics trade and guerrillas movements because time is up “and we don’t need them”.
President Barack Obama and Brazilian President Luiz Inacio Lula da Silva discussed the economy, energy and the environment Saturday during their first White House meeting.
Paraguay is a poor country and is fighting for a fair market price for its share of energy generated at South America’s largest hydroelectric dam shared with Brazil. “Somehow we are subsidizing Brazil’s energy”, said Paraguayan president Fernando Lugo in an interview with the Spanish daily El Mundo.