Economy

• Wednesday, June 2nd 2010 - 02:36 UTC

  Brazilian press calls Paraguay “rich beggar”, superb actor in asking for alms

  

  One of Brazil’s most influential weekly magazines with strong penetration in political and business circles, ‘Veja’ has a main article this week calling neighbouring Paraguay the “rich beggar”, a role which the successive Paraguayan governments “have played to success attracting significant international aid and grants”.

• Tuesday, June 1st 2010 - 05:04 UTC

  Roubini warns Brazil about asset-bubble; recommends limiting Real appreciation

  

  Nouriel Roubini, the New York University professor who predicted the global financial crisis before markets peaked, said the Brazilian, Chinese and Indian economies may be overheating and developing asset bubbles.

• Tuesday, June 1st 2010 - 04:49 UTC

  India raises basic rate, drains liquidity and says recovery is “firmly in place”

  

  The Reserve Bank of India (RBI) has raised key interest rates by a quarter of a percentage point in an attempt to curb near double-digit inflation. The rise was the second in a month and was in line with analysts' forecasts.

• Tuesday, June 1st 2010 - 04:40 UTC

  European confidence in economic outlook down and inflation up

  

  European confidence in the economic outlook unexpectedly worsened in May and inflation accelerated as the Euro region’s debt crisis shook markets.

• Tuesday, June 1st 2010 - 02:52 UTC

  Argentina extends bond restructuring on request from Italian creditors

  

  Argentina is extending its 18.3 billion US dollars bond restructuring at the request of Italian creditors and the country’s financial regulator, Economy Minister Amado Boudou said on Monday.

• Tuesday, June 1st 2010 - 02:44 UTC

  IDB plans to lend 10 billion USD in 2010

  

  The Inter American Development Bank, IDB, is ready to disburse 10 billion US dollars in loans to Latinamerica during fiscal 2010, said the bank’s president Luis Moreno.

• Tuesday, June 1st 2010 - 02:40 UTC

  China warns of a double-dip recession because of European sovereign debt

  

  China warned that Europe's struggle to contain soaring debt posed a risk to global economic growth, raising the spectre of a double-dip recession.

• Tuesday, June 1st 2010 - 01:39 UTC

  Latinamerica exposed to European slowdown, but not Brazil, forecast experts

  

  The United Nations Economic Committee for Latinamerica and the Caribbean, Cepal, anticipates that growth in the region will be less than in previous years because of the economic downturn in developed countries but the tendency should not influence Brazil, the region’s largest economy.

• Monday, May 31st 2010 - 04:20 UTC

  European weakened governments must address this week tough decisions

  

  Budget Minister Francois Baroin indicated on Sunday that France should not take for granted its AAA rating, which allows Paris to borrow relatively cheaply on international markets and finance its big budget deficit.

• Monday, May 31st 2010 - 04:04 UTC

  Experts warn Europe’s ‘austerity zeal’ could dampen anaemic recovery

  

  Experts are warning that European governments rush to cut budget deficits with draconian austerity measures could mean a blow for Europe's tentative economic recovery.