Economy

• Monday, August 8th 2011 - 04:33 UTC

  Brazil remains faithful to the dollar and has no plans to sell US Treasuries

  

  Brazil has no plans to sell US Treasuries or change its foreign currency reserves holdings as a result of Standard & Poor’s downgrade of the US’s credit rating, a government official said.

• Monday, August 8th 2011 - 04:14 UTC

  China warns US on ‘debt addiction’; demands global supervision of dollar issues

  

  Beijing bluntly criticized the United States after the superpower's credit rating was downgraded, saying the “good old days” of borrowing were over. S&P cut the US long-term credit rating from top-tier AAA by a notch to AA-plus on yesterday, over concerns about the nation's budget deficits and climbing debt burden.

• Saturday, August 6th 2011 - 08:47 UTC

  Unasur central bankers anticipate moderation in the region’s growth

  

  Unasur (Union of South American Nations) central bankers meeting on Friday to discuss global financial turbulence saw heightened risks and a moderation in the region's growth, they said in a joint statement published by Chile's central bank.

• Saturday, August 6th 2011 - 08:41 UTC

  Canadian PM will visit Brazil, Colombia and Central America

  

  Canadian Prime Minister Stephen Harper will visit Brazil, Colombia, Costa Rica and Honduras from August 8 to 12 to promote trade and investments, reinforce democratic governance and advance common security, according to a release from the PM’s office.

• Saturday, August 6th 2011 - 08:21 UTC

  Unasur ready for potential balance of payments deficit caused by the North’s crisis

  

  The Union of South American nations (Unasur), meeting in Peru Friday the region is well-positioned to withstand a sharper global downturn but want to insulate their economies further from a crisis of confidence they blame on Europe and the United States.

• Saturday, August 6th 2011 - 08:10 UTC

  The unthinkable has happened: S&P downgrades the US credit rating

  

  One of the top credit rating agencies, Standard & Poor's, has downgraded the United States' top-notch AAA rating for the first time ever. S&P cut the long-term US rating by one notch to AA+ with a negative outlook, citing concerns about budget deficits.

• Friday, August 5th 2011 - 20:06 UTC

  China calls for global cooperation to solve dollar and euro debt problems

  

  China's Foreign Minister called on Friday for more global cooperation to resolve US and Euro area debt problems as stock markets around the world tumbled on fears another financial storm may be developing.

• Friday, August 5th 2011 - 18:50 UTC

  Argentina blasts US and EU: only way out of crisis is expanding public spending

  

  Argentina's Deputy Economy Minister Roberto Feletti criticized the fiscal austerity measures being implemented in Europe and the US, saying those policies will only hurt the global economy.

• Friday, August 5th 2011 - 18:44 UTC

  US payroll data comes as a relief, but markets fear recession ‘round the corner’

  

  US job growth accelerated more than expected in July as private employers stepped up hiring, a development that could ease fears the economy was sliding into a fresh recession.

• Friday, August 5th 2011 - 08:14 UTC

  Unasur Finance ministers meet in Peru to address the glut of US dollars

  

  Unasur Finance ministers struggling to stop economic harm from several years of US dollar decline will seek to agree on a coordinated response when they meet Friday in Lima.