Stories for January 2009

Wednesday, January 28th 2009 - 20:00 UTC
IMF forecasts UK economy to contract 2.8% this year

The United Kingdom is expected to suffer the worst slump of all advanced nations in the “deepest recession since the Second World War”, according to the latest International Monetary Fund (IMF) World Economic Outlook.
Wednesday, January 28th 2009 - 20:00 UTC
Credit rating agencies admit errors before UK Parliament

Credit and risk rating agencies have admitted errors were made when assessing some of the financial instruments that have been blamed for the credit crunch. Representatives of the three main agencies - Standard & Poor's, Fitch, Moodys - were grilled by the House of Commons Treasury Select Committee
Wednesday, January 28th 2009 - 20:00 UTC
Venezuela stronger than Germany or Spain, says Chavez

President Hugo Chavez boasted that Venezuela has more foreign reserves to face the current global crisis that Spain or Germany, following a cabinet meeting which was broadcasted live.
Wednesday, January 28th 2009 - 20:00 UTC
Iran efforts in Latinamerica concern US Defence Dpt.

United States Defence Secretary Robert Gates told Senators that although much attention was given to Russia's recent courting of some Latin American countries he is more concerned about new activities of Iran in the region.
Wednesday, January 28th 2009 - 20:00 UTC
Brazil back steps on “electronic” import licence request

The Brazilian government officially denied Wednesday it had imposed import licences or was reverting to non tariff barriers on hundreds of products, a decision which had caused uproar mainly among Mercosur partners.
Wednesday, January 28th 2009 - 20:00 UTC
Drought forces Argentine soy crop estimate down 16%

The extreme drought conditions which most of Argentina's rich farmland is suffering will have an impact on the soybean crop that is now estimated in the range of 40 million tons, down 16.7% from the previous crop according to the Argentine Association of Agriculture experimentation regional consortia, AACREA.
Tuesday, January 27th 2009 - 20:00 UTC
Drought-devastated Argentina declares camp emergency

The Argentine government declared on Monday an agricultural emergency in areas affected by the worst drought to hit the country in four decades and which has extended to most of the country's farmlands.
Tuesday, January 27th 2009 - 20:00 UTC
Protectionist Brazil: restrictions on 60% of imports

Brazil announced it has imposed restrictions on 60% of imports “to soften” the impact of the global crisis in its trade balance which in the first four weeks of January has registered a totally unexpected deficit of 645 million US dollars.
Tuesday, January 27th 2009 - 20:00 UTC
Italy recalls ambassador in Brazil over asylum dispute

Italy on Tuesday recalled its ambassador to Brazil for consultations in response to Brasilia's definitive decision to grant political refugee status to a convicted Italian terrorist.
Tuesday, January 27th 2009 - 20:00 UTC
“Another world is possible” forum attracts 120.000

Tens of thousands of anti-globalization activists gathered Tuesday in the north-eastern Brazilian city of Belem for the opening of the World Social Forum (WSF), finding solidarity under the slogan “another world is possible”.