The Falkland Islands government said that hydrocarbons exploration is an important element to achieve a sustainable economic future for the Islands and quoted from British PM Gordon Brown New Year message when he said that there are “no doubts about UK sovereignty over the Falklands ” and the principle of self determination.
Britain's longest- and deepest-ever recession plunged a record number of people into insolvency last year, new figures show. A total of 134,142 people went bankrupt or took out an Individual Voluntary Arrangement (IVA) or Debt Relief Order during the year, according to the Insolvency Service.
First the bad news: Spain's economy contracted by 3.6% in 2009, the most in decades, as domestic demand plummeted according to a Bank of Spain estimate that was in line with government forecasts.
The International Monetary Fund, IMF, made a public veiled reference to Argentina’s Central bank institutional crisis underlining the importance of having independent central banks for monetary policy all over the world.
Brazil's Central Bank Monetary Policy Committee, Copom, expressed concern about inflation and advanced it was prepared to respond “promptly” according to the minutes from its meeting last week when it decided to maintain the basic interest rate at 8.75%.
Concerns about the US economy and the potential spread of debt problems in the Euro zone (Greece, Portugal and Spain) have led to large falls in world stock markets. US and key European markets lost more than 2% while those in Spain and Portugal fell by more than 5%.
The euro zone economy will continue to grow at a moderate pace but with bumps on its path to recovery, European Central Bank (ECB) President Jean-Claude Trichet said on Thursday.
Prices in Uruguay surprised in January, showing signs of picking up again, driven in large part by higher medical costs, the latest salaries agreements and dearer vegetables according to data published earlier this week.
Argentina’s newly appointed Central Bank president Mercedes Marcó del Pont, said she believes in the Central Bank' operational autonomy, but expressed it cannot be independent. She also said they would work rigorously and continue their policies to bring calm in the currency exchange market.
The Bank of England decided Thursday against further quantitative easing (QE), the policy designed to stimulate growth in the UK economy. Under QE, the Bank has pumped new money into the economy by buying assets such as government bonds, as a way to boost lending by commercial banks.
Last week, it revealed it had spent all of the £200 billion put aside for QE.