Economy

Wednesday, June 13th 2012 - 06:17 UTC
Ahead of G20 summit Brazil conditions IMF support and wants stimulus policies

The amount of additional money Brazil plans to contribute to the IMF will depend on commitments to bolster the influence of emerging-market nations at the global lender, a senior Brazilian government official said on Tuesday.
Wednesday, June 13th 2012 - 06:11 UTC
Argentina pledges to pay bonds in US dollars and denies ‘pesification’ of contracts

Argentine President Cristina Fernandez pledged Tuesday to make an upcoming 2.2 billion dollars Boden 2012 bond payment in US dollars, rejecting recent speculation that the government would try to pay some or all of its foreign-currency-denominated debt in Argentine pesos.
Tuesday, June 12th 2012 - 23:08 UTC
Brazil says economy should pick up in coming months in spite of world slowdown

Stimulus measures enacted by policymakers in recent months should soon lead to a pickup in growth, breathing some life into Brazil after three straight quarters of stagnation, said central bank president Alexandre Tombini. However he warned about two years of slow global growth and markets volatility.
Tuesday, June 12th 2012 - 23:02 UTC
Unasur new Secretary General promises to work for energy integration and reduce poverty

Venezuela has taken the Unasur secretary general post from Colombia during a ceremony last Monday held in Bogotá with the attendance of Colombian president Juan Manuel Santos and his Paraguayan counterpart Fernando Lugo.
Tuesday, June 12th 2012 - 19:42 UTC
The Pacific Alliance, yet another bloc in Latin America

The newly-formed Pacific Alliance bloc seems more like a political club to counterbalance the Atlantic-facing, Brazil-led Mercosur group. However, the bloc accounts for 30% of India’s trade with Latin America. Can India engage the group so it is not left out from their Asia focus?
Tuesday, June 12th 2012 - 08:46 UTC
Argentine May inflation 1.71% and 23.85% in twelve months, according to private estimates

Argentine opposition lawmakers unveiled on Monday the inflation index based on the analysis of nine private agencies, which in May reached 1.71%. The unofficial consumer price index has accumulated 23.85% in the last twelve months, twice the volume registered by the Indec national statistics bureau.
Tuesday, June 12th 2012 - 08:19 UTC
“The more restrictions on the US dollar, the more people distrust the Argentine peso”

Argentine former economy minister Domingo Cavallo assured that had the restrictions to buy US currency not been applied by the local Government “people would be flocking to buy dollars.”
Monday, June 11th 2012 - 20:09 UTC
Stiglitz negative about Spanish bail-out, calls it “voodoo economics”

The plan to lend money to Spain to heal some of its banks may not work because the government and the country's lenders will in effect be propping each other up, Nobel Prize-winning economist Joseph Stiglitz said.
Monday, June 11th 2012 - 19:44 UTC
China cuts retail gasoline prices 5.5% to reflect cheaper oil and boost the economy

China, the world's second-biggest oil user, will reduce gasoline and diesel prices by the most since 2008 after global crude costs slumped. State-controlled retail gasoline prices will fall by 530 Yuan (83 dollars) a metric ton and diesel will be cut by 510 Yuan, the National Development and Reform Commission, NDRC, the nation's top economic planner, said on its website last week.
Monday, June 11th 2012 - 05:47 UTC
Opinion poll shows support for Cristina Fernandez sliding significantly

The image of Argentine president Cristina Fernandez and the approval of her government have fallen significantly in June compared to last October when she was re-elected for a second four year mandate.