Economy

• Thursday, October 27th 2011 - 15:50 UTC

  Brazilian central bank suggests ‘moderate’ cuts to interest rates

  

  Brazil’s central bank said slowing global growth will have a large enough disinflation impact and allow policy makers to carry out “moderate” cuts to interest rates.

• Thursday, October 27th 2011 - 15:43 UTC

  Argentine insurance companies ordered to repatriate foreign investments

  

  In a further attempt to ease the pressure on the dollar and decrease the outflow of the Central Bank's foreign currency reserves, the Argentine government ordered insurance companies to repatriate their foreign investments.

• Thursday, October 27th 2011 - 06:05 UTC

  EU leaders reach a deal on Greek debt and boosting bailout fund to 1.4 trillion

  

  European Union leaders announced an agreement early Thursday in Brussels on debt crisis measures including a hard-fought deal with private sector investors to write down Greek bonds by 50%.

• Thursday, October 27th 2011 - 05:58 UTC

  World Bank forecasts Latam growth of 3.5% to 4% this year and 4% in 2012

  

  Latin America’s economy is forecasted to grow between 3.5% and 4% this year, which is less than previous estimates before the current global financial crisis, said World Bank representative for the region, Pamela Cox.

• Thursday, October 27th 2011 - 05:52 UTC

  In anticipation of global crisis World Bank extends 260m loan to Uruguay

  

  The World Bank Board approved a 260 million dollars loan to support the Uruguayan government’s reform program in order to consolidate growth with social equity and provide a line of financing to address the impact of the current uncertainty in global economic affairs.

• Thursday, October 27th 2011 - 05:47 UTC

  Uruguay’s flock at a historic low; number of cattle below 11 million

  

  The latest update of Uruguay’s livestock census for the year ending last June 30 shows the number of cattle is below eleven million and the flock at its lowest since colonial times with 7.3 million head.

• Thursday, October 27th 2011 - 05:37 UTC

  Praise and dollars from the World Bank to Peruvian president Humala

  

  The World Bank has offered a 3 billion dollars line of credit to Peru, backing President Ollanta Humala's plans for anti-poverty initiatives and sustained economic growth, a regional vice president said this week.

• Wednesday, October 26th 2011 - 15:26 UTC

  Argentina floods the market with dollars to control money speculation

  

  The Argentine Central Bank (BCRA) issued a special decree so that all export revenues generated by both mining and energy sectors remain in Argentina to be negotiated at the local foreign exchange market.

• Wednesday, October 26th 2011 - 15:22 UTC

  Strong support for Merkel ahead of the Euro bail out summit

  

  Germany's Bundestag lower house of parliament approved on Wednesday a motion to strengthen the Euro zone rescue fund via leveraging, providing Chancellor Angela Merkel with the mandate she needs to negotiate at a key Euro summit in Brussels.

• Wednesday, October 26th 2011 - 15:18 UTC

  WTO warns protectionism is gaining ground “as a political reaction” to economic difficulties

  

  Economic pressures are tempting G20 governments to resort to protectionism in a misguided bid to shield their domestic markets from problems that are unrelated to trade, the World Trade Organization said in a biannual report Wednesday.