If Argentina compiles with its homework and has good relations with international financial organizations, “credit is granted overnight” said Olivier Blanchard, the International Monetary Fund Economic Counselor and Director of the IMF Research Department during his visit to Buenos Aires for a two day conference on monetary policies.
The risk-rating agency Moody’s Economy anticipates that whoever wins in Uruguay’s October presidential election, the only certainty is that “there will be changes in economic policy” and in regional inter-action, including a review of Mercosur relations.
Brazil's Central Bank decided on Wednesday to keep its benchmark lending rate unchanged at a record low 8.75%. The monetary policy committee, Copom, voted unanimously to leave the so-called Selic rate steady, in line with analysts' expectations.
In anticipation of the G20 Finance ministers meeting in London on Friday UK Chancellor Alistair Darling insisted that world governments need to keep spending to ensure recovery from the global economic crisis.
EU plans to regulate hedge funds are a blatant attack on London's role as an international financial centre, the mayor of the city has said. Boris Johnson added that suspicions ministers in Paris and Berlin were using the proposals to deliberately target London were not unfounded.
A report from a private researcher in United States established that August saw US employers cut the smallest number of jobs in nearly a year. ADP reports 298,000 non-government jobs were cut during August, which is considerably less than the prior month (360.000).
Federal Reserve policymakers were increasingly pleased by signs of improvement in the US economy but added that the recovery is still fragile, according to the minutes of their most recent meeting.
China has agreed to buy the first International Monetary Fund bonds for about 50 billion dollars, the IMF said Wednesday. IMF managing director Dominique Strauss-Kahn and the deputy governor of the People’s Bank of China, Yi Gang, signed the agreement in Washington.
Magallanes in the extreme south of Chile remains as the region with the lowest unemployment in the country, 4.4% according to the latest release from the regional branch of the Statistics Office.
Chinese top leaders reaffirmed on Tuesday the country’s stimulus program and easy credit policy following one of the worst monthly performances of the Shanghai and Shenzhen markets fearing recovery efforts could be loosing steam.