Economy

• Friday, September 23rd 2011 - 08:00 UTC

  Uruguay could reconsider links with Mercosur given obstacles to inter-trade

  

  Uruguay is reconsidering the situation and links with Mercosur, given the recent trade obstacles and tariffs imposed by Mercosur senior partners Brazil and Argentina, announced President Jose Mujica in an interview.

• Friday, September 23rd 2011 - 07:45 UTC

  Argentine central bank dismisses IMF warning on risk of overheating economies

  

  The Argentine Central Bank Governor Mercedes Marcó del Pont dismissed the IMF’s warning on the risk of overheating economies in developing countries.

• Friday, September 23rd 2011 - 07:33 UTC

  Greek default would expose European banks in 300 billion Euros

  

  History's first sovereign default came in the 4th century BC, committed by 10 Greek municipalities. There was one creditor: the temple of Delos, Apollo's mythical birthplace.

• Friday, September 23rd 2011 - 07:27 UTC

  US and EU markets negative sentiment extends to Asian stocks with record losses

  

  Asian stocks have fallen on Friday, with some indexes driving towards their worst weekly losses since 2008. The Group of 20 nations said they were ready to preserve stability in the financial markets.

• Friday, September 23rd 2011 - 07:24 UTC

  Euro debt crisis and US political division ‘biggest threats’ to global economy

  

  US Treasury Secretary Timothy Geithner said that the European debt crisis and the political divisions in the United States were the biggest threats to the global economy.

• Friday, September 23rd 2011 - 01:41 UTC

  IMF chief wants “constructive dialogue” with Argentina but warns about stats

  

  The head of the International Monetary Fund, Christine Lagarde, said on Thursday that she wants a “constructive dialogue” with Argentina, while at the same time warned that she is not willing to make any “concessions” in terms of the quality of official data the IMF receives from member countries.

• Thursday, September 22nd 2011 - 22:42 UTC

  Brazil’s August unemployment stable at 6% in tight labour market

  

  Brazil’s unemployment rate remained unchanged at 6% in August, a record low for the month while average real wages rose 0.5% from the previous months to 1,629.40 Reais (839.16 US dollars) a month, the government statistics agency IBGE report showed.

• Thursday, September 22nd 2011 - 22:17 UTC

  IMF re-activates resource pool of 571 billion for another six months

  

  The International Monetary Fund re-activated this week a 571 billion dollars resource pool to ensure it has funds to help cover Europe's worsening sovereign-debt crisis. The IMF extended activation of its so-called New Arrangements to Borrow for a six-month period from October.

• Thursday, September 22nd 2011 - 21:52 UTC

  Brazil to the rescue of the Real which is down 17% against the dollar in 4 weeks

  

  Brazil's central bank unexpectedly acted to halt the currency's slide on Thursday, highlighting growing concern among officials that the global financial crisis is damaging Brazil's economy and could cause a potentially destructive spurt in inflation.

• Thursday, September 22nd 2011 - 08:36 UTC

  IMF will use private and provincial data to gauge Argentine economy

  

  The International Monetary Fund will use estimates from the private sector and provincial governments to measure economic growth and inflation in Argentina, underscoring the IMF distrust of official data.