The International Monetary Fund has warned that an over reliance on capital controls could derail the current global recovery. Although admitting that it may be a good idea for one country to apply controls on capital inflow, as the levy imposed by Brazil, “it could encourage too many others in the region to follow suit”.
Brazil is considering additional anti-inflationary measures such as tax breaks and lower import tariffs but monetary policy remains the main tool to control prices, Finance Ministry officials said on Friday.
Colombian presidential candidates Juan Manuel Santos and Antanas Mockus have increased their lead in the run-up to the May 30 balloting, a new poll released Thursday revealed.
After unveiling Argentina's debt-swap details Thursday, Economy Minister Amado Boudou said on Friday that the next step is to negotiate the 7.5 billion dollar debt Argentina maintains with the Paris Club.
A Buenos Aires judge voided on Friday the marriage last week of two women, the first union of its kind in Argentina, judicial officials said.
Egypt expects to complete free trade negotiations with the four Mercosur countries -- Brazil, Argentina, Uruguay and Paraguay -- in July, Egypt's trade minister revealed this week in Cairo.
US President Barack Obama has proposed significant new curbs on the activities of banks to try to prevent future financial crises. The plans - the most far-reaching yet -include limits to the size of banks and restrictions on riskier trading.
Uruguayan president Jose Mujica and his Argentine peer Cristina Fernandez de Kirchner will meet in Buenos Aires the day after the International Court of Justice rules on the pulp mill dispute which has soured bilateral relations between the neighbouring countries since 2006.
The Inter-American Development Bank, IDB, announced Friday its intention to increase its financing for renewable energy and climate-related projects to 3 billion US dollars a year by 2012.
Increased external financing requirements to cover reconstruction costs triggered by the earthquake and tsunami of February 27 will shift Chile’s external position from capital exporter in 2009 (largely the result of its dynamic private pension system) to capital importer this year and next, according to the Institute of International Finance, IIF.