Economy

• Friday, October 8th 2010 - 00:15 UTC

  Argentina calls IMF a “non prestigious, absolutely inefficient institution”

  

  While the International Monetary Fund said it hopes Argentina will normalize relations with the multilateral institution, the Argentine Foreign Affairs minister Hector Timerman described the IMF as “non prestigious organization”.

• Friday, October 8th 2010 - 00:12 UTC

  Brazil forecasts crop will reach a record 148.9 million tons in 2010 farm year

  

  Brazil forecasts a record crop of cereals and oilseeds totalling 148.9 million tons, the largest ever, according to the latest release from the Brazilian Geography and Statistics Institute, IBGE.

• Thursday, October 7th 2010 - 00:28 UTC

  Uruguayan economy, second best performer in Latinamerica, forecasts IMF

  

  The IMF expects the Uruguayan economy to expand strongly this year, 8.5% and 5% in 2011 in a world framework which is experiencing the slow consolidation of recovery but still highly vulnerable.

• Thursday, October 7th 2010 - 00:24 UTC

  Uruguay targets EU tariff free feed-lot beef quota

  

  Uruguay is optimistic about taking a share of the tariff free 20.000 tons of the feed-lot beef quota which the European Union establishes annually. The dossier with all the requested information has been sent to the EU and if finally approved would further boost the Uruguayan cattle and meat industries which are experiencing one of its best moments in history.

• Wednesday, October 6th 2010 - 23:54 UTC

  IMF recommends Latam fiscal savings to address persistent capital inflows

  

  Latin America is exiting from the global financial crisis faster than anticipated, and should use the opportunity to boost fiscal savings that can slow inflation and prevent overheating, the IMF said Wednesday.

• Wednesday, October 6th 2010 - 23:21 UTC

  Chilean state oil company ENAP strikes natural gas deposit in Tierra del Fuego

  

  Chilean state owned oil and gas company Empresa Nacional del Petroleo SA, Enap, discovered a new natural-gas well on the Arenal exploration block on the Tierra del Fuego island in the extreme south Magallanes region, the company said Wednesday.

• Wednesday, October 6th 2010 - 23:01 UTC

  Chinese millionaires love foreign luxury cars: 460.000 in seven months

  

  China's imported auto market continues to flourish with sales of 460,000 in the first seven months of this year. It represents a growth rate of 150% compared with the same period of last year.

• Wednesday, October 6th 2010 - 22:41 UTC

  Chilean wine exports reach 1.5 billion USD in 12 months, but profits down

  

  Chilean bottled wine exports soared 33.3% and 25.8% during August in volume and value helping to reach the 1.5 billion US dollars and 749 million litres in the last twelve months, with 18.9% and 11.2% increases in volume and value according to the latest release from Vinos de Chile.

• Wednesday, October 6th 2010 - 17:39 UTC

  IMF and Kirchner administration agree: economy to expand strongly 2010/11

  

  The International Monetary Fund warned of considerably high price index inflation and seemed sceptic of official GDP growth reports in Argentina as it presented its World Economic Outlook report, although it forecast a 7.5 percent growth, with a strong expansion partly due to the favourable global scenery and a strong trade with Brazil.

• Wednesday, October 6th 2010 - 17:34 UTC

  “Argentina seeks to service all its debts” promises Mrs Kirchner in Germany

  

  “Argentina seeks to service all its debts” said President Cristina Fernández de Kirchner following a meeting with German Chancellor Angela Merkel at the chancellery in Berlin. Mrs. Kirchner is on a three day high profile visit to Germany where she also met with President Christian Wulff in Berlin’s Bellevue Palace.