Chile's Lower House unanimously approved this week the naming of a special committee to investigate the financial performance of government owned hydrocarbons corporation ENAP, that suffered huge losses in 2008, and gas exploration projects in Tierra del Fuego which have been described as commercially non viable.
Professor Sir Alan Walters, former personal economic advisor to Prime Minister Margaret Thatcher, and credited with being an architect of the 1980's renaissance of the economy of the United Kingdom, died peacefully at home on Saturday at the age of 82.
Consumer inflation in Chile during December was negative, 1.2%, the lowest since 1996, helping the overall consumers' prices index (CPI) to close 2008 at 7.1%, according to the latest release from the country's Statistics Institute, INE.
Ecuador will implement this year a plan to reinforce its borders, particularly with Colombia, to eliminate the presence of guerrillas and irregular forces in its territory, announced the country's Defence minister Javier Ponce.
Toyota is to halt production at all 12 of its Japanese factories for 11 days in February and March as it tries to reduce its stock of unsold cars. It had already announced a three-day halt for January, but before that it had not cut production since 1993, when it did so for one day.
The Euro has slipped against the pound and the dollar as expectations rise that the European Central Bank will cut interest rates again on 15 January.
Chilean president Michelle Bachelet administration showed a positive public opinion assessment, for the first time in twelve months, according to the latest CEP polls published over the weekend.
Uruguay exports grew by 31.3% in value in 2008, its biggest increase in the last four years, despite the negative effects that the international financial crisis had on the country in the last two months of the year, according to an official report.
Chile announced a stimulus plan increasing spending by four billion US dollars in an effort to create jobs and prop the economy. This means that for the first time in six years Chile will run a budget deficit, 2.9% of GDP.
Venezuelan President Hugo Chavez forecasted that the unity of the world's big producers of crude will restore stability to global petroleum markets and anticipated that even if the price of Venezuelan oil falls to zero, the Bolivarian revolution will continue.