Economy

• Monday, May 31st 2010 - 01:14 UTC

  Brazilian businessmen not convinced by Mrs. Kirchner’s promises

  

  Argentine President Cristina Fernandez de Kirchner promises that ‘there weren't, nor ever will be, barriers’ blocking Brazilian imports’ was received with disbelief by the Brazilian business community.

• Saturday, May 29th 2010 - 07:04 UTC

  Celso Amorim remembers Argentina that “Brazil is a huge market”

  

  Brazilian Foreign Minister Celso Amorim was the latest high ranking official to complain about the limitations applied to bilateral trade with Argentina and said it was imperative for the country to understand that “Brazil is a huge market.”

• Saturday, May 29th 2010 - 05:32 UTC

  Economics Nobel Prize Stiglitz favours regulation of risk rating agencies

  

  Economics Nobel Prize Joseph Stiglitz said it was time to end with the “authority” that countries have deposited in risk assessment agencies and which “have not done things correctly” and have been an essential factor in giving “the global crisis a nice boost”.

• Saturday, May 29th 2010 - 05:26 UTC

  Mrs. Kirchner promises there will never be barriers to Brazilian imports

  

  Argentine President Cristina Fernández de Kirchner assured that “there weren't, nor ever will be, barriers blocking Brazilian imports,” after holding a meeting in Rio de Janeiro with her Brazilian counterpart Lula da Silva, a gathering she classified as “more than good.”

• Saturday, May 29th 2010 - 05:21 UTC

  Argentine minister warns Greece about the IMF “dangerous policies”

  

  On an article published Friday in the German daily “Frankfurter Allgemeine Zeitung,” Argentine Finance Secretary Hernán Lorenzino warned about the IMF “dangerous policies” like the ones proposed to help Greece leave its crisis behind.

• Saturday, May 29th 2010 - 02:59 UTC

  IMF praises management of Peruvian economy; forecasts 5 to 7% growth in 2010

  

  International Monetary Fund (IMF) praised Peru as a clear example of how to enforce the right economic policies since its GDP this year is expected to grow 5 to 7%.

• Saturday, May 29th 2010 - 01:35 UTC

  IMF raises global economic growth forecast to 4.25% in 2010

  

  The IMF sees global economic growth of 4.25% this year and next, “faster than previously expected,” the head of the multilateral lender said on Friday.

• Friday, May 28th 2010 - 04:53 UTC

  Brazil suggests Yuan and Real be included as IMF conversion currencies

  

  Brazilian Finance Minister Guido Mantega suggested the International Monetary Fund (IMF) include China's Yuan and Brazil's Real as conversion currencies for Special Drawing Rights (SDR) of the institution.

• Friday, May 28th 2010 - 04:51 UTC

  Argentina wins appeal on damage award to thousands of defaulted bond holders

  

  US federal appeals court threw out a 2.24 billion US dollars damage award to tens of thousands of investors who held defaulted Argentine sovereign bonds, saying a lower court erred in calculating an “inflated” sum.

• Friday, May 28th 2010 - 04:48 UTC

  Brazil confident it can bring inflation on target and confront EU slowdown

  

  Brazil’s central bank chief Henrique Meirelles said he’s “confident” inflation will meet the target because the country has already started raising interest rates. He also admitted that Brazil is seeing “some decline” in exports to Europe as the region’s indebted nations struggle to cut budget deficits.