Amidst global economic recession and financial-market fragility, net private capital inflows to developing countries fell to 707 billion US dollars in 2008, a sharp drop from a peak of 1.2 trillion in 2007. International capital flows are projected to fall further in 2009, to 363 billion US dollars, according to the latest report from the World Bank.
Brazil has suggested delaying the coming Mercosur presidential summit scheduled for July 3 and 4 in Asunción, Paraguay when Uruguay should be taking the chair for the next six months.
Because food is a basic necessity, the agriculture sector is showing more resilience to the global economic crisis than other industries. But the risks could increase if the economic downturn deepens, according to a new report by the OECD and FAO released this week.
Ecuador together with the Caribbean islands of Saint Vincent and Grenadines and Antigua and Barbuda will be joining the Venezuelan sponsored Bolivarian Alternative of the Americas, ALBA, during a summit this week in Venezuela, announced President Hugo Chavez.
Europe's central bank chief on Sunday cautioned against any new government stimulus plans and predicted the global economy will pick up in 2010. But he also warned it would be a mistake to believe that recovery is a foregone conclusion.
Venezuelan president Hugo Chavez openly supported the Iran regime and called for “respect” for the country and an end to attempts “to erode the strength of the Iranian revolution”.
Peruvian President Alan Garcia's approval rating has fallen to its lowest level in 18 months, hurt by the deadly Amazonia clashes between security forces and indigenous protesters that killed at least 33 people, officially, and over 50 according to Indian sources.
Officials in Brazil have identified the first 11 of 50 bodies recovered from the Air France Flight 447 disaster in which 228 people died three weeks ago. The bodies were those of 10 Brazilians and one male foreigner, officials said. They gave no further details
Chilean president Michelle Bachelet begins on Tuesday an official two-day visit to the United States where she will be meeting with President Barack Obama at the White House, members of Congress and the Organization of American States Secretary General.