Latin America and the Caribbean have weathered the 2008-2009 recession much better than it had previous downturns. However less well-known is that the region, particularly Mercosur members, also decisively outperformed many other regions during the same period with a decline in growth smaller than that of the middle-income country average and with a rebound that was swifter and stronger.
US President Barack Obama said the United States must use the tax code to help meet its targets for reducing the deficit and said that the wealthiest Americans must help achieve that goal.
The military officer who as de facto president led Argentina following the Falkland Islands invasion defeat in 1982 was sentenced to life in prison over human rights violations committed during the country’s last military dictatorship, 1976/1983.
Strong public and private consumption, abundant credit and strong currency appreciation among other reasons helped Latin American countries overcome the 2008/09 recession and outperform other regions according to the World Bank report Latin America and the Caribbean’s Success Put to the Test.
Driven in part by higher fuel costs connected to events in the Middle East and North Africa, global food prices are 36% above their levels a year ago and remain volatile, pushing people deeper into poverty, according to new World Bank Group numbers released Thursday.
A banker is a fellow who lends you his umbrella when the sun is shining and wants it back the minute it begins to rain” claimed Mark Twain a long time ago. After greedy and socially irresponsible bankers wreaked havoc around the world in 2008 no wonder this cynical comment by the famous writer is still referred to.
The BRICS group of emerging-market powers kept up the pressure for a revamped global monetary system that relies less on the US dollar and for a louder voice in international financial institutions.
China is far from normalizing soy-oil purchases in Argentina since it has not placed new orders according to the Argentina Cooking Oil Industry Chamber, CIARA. However the industry has managed to diversify markets.
Venezuela and Argentina recorded the highest rates of inflation in South America during the first quarter of 2011 according to the latest data available.
Venezuela in Mercosur will act as a balancing element and Unasur has more than proven its merits, said Paraguay’s new Foreign Affairs minister Jorge Lara Castro who insisted the country must work urgently to overcome asymmetries in the region and passive integration is not enough.