European Commission strongly criticised international credit ratings agencies following the downgrade of Portugal by Moody's. The Commission said the timing of the downgrade was questionable and raised the issue of the appropriateness of behaviour of the agencies in general.
Brazil's 2010-11 soy crop was larger than previously estimated, as higher productivity and a greater area of land planted with the oilseed resulted in record output, agricultural consultancy Celeres reported this week.
Venezuela president Hugo Chavez thanked his peers from Uruguay, Bolivia and Paraguay for having attended the Tuesday bicentenary celebrations of the country’s independence, a huge military parade with an arch-display of soldiers in colonial uniforms to some with probably the most modern combat gear of the region.
Poland which currently holds the rotating chair of the European Union presidency warned that any trade agreements with third parties must strictly abide by the EU sanitary and food security standards.
Chile's President Sebastián Piñera, beset by mass student protests over education standards and costs which are threatening his legislative agenda, proposed a 4 billion US dollars fund for higher education.
Though Chile has one of South America’s strongest economies, a recent study of happiness rates it second-to-last in the region, leading experts to assert that national happiness is not determined by a nation’s wealth or economic development.
YPF Argentina reported Tuesday that its first offshore well drilled in the so called Malvinas basin proved dry. The operation was equally shared with Brazil’s Petrobras and Pan American Energy, a Chinese-Argentine group.
The IMF revealed its new managing director Christine Lagarde who took office on Tuesday will receive an annual salary of 467,940 US dollars net of income taxes and told her to “observe the highest standards of ethical conduct.”
The Irish government is expecting a report from the European Commission setting out the economic impact on Eire of a potential trade agreement between the EU and Mercosur.
According to recently released document the government of Prime Minister Margaret Thatcher wanted Scotland to crash out of the 1982 World Cup in Spain in an attempt to avoid a diplomatic headache over the Falklands conflict.