Economy

• Thursday, January 14th 2010 - 11:56 UTC

  Germany experienced during 2009 the largest ever decline in 60 years

  

  Germany's largely export-driven economy recorded its biggest-ever decline since World War II in 2009: 5%. The country also breached the EU's deficit limit.

• Thursday, January 14th 2010 - 11:54 UTC

  No end on sight to US budget deficit: one trillion USD in fiscal 2010

  

  United States registered its largest December budget deficit on record as higher unemployment reduced revenue and the government spent money to help the economy recover.

• Thursday, January 14th 2010 - 09:58 UTC

  Brazil’s main private bank forecasts “aggressive” policy to counter inflation

  

  Brazil will boost interest rates to as high as 13% next year as policy makers become more “aggressive” to ensure the global economic recovery doesn’t fuel faster inflation, according to Bradesco Asset Management

• Thursday, January 14th 2010 - 09:55 UTC

  Uruguay with the fourth highest inflation in the region last year

  

  Uruguay’s inflation in 2009 was on target, 5.9%, but nevertheless it was the highest in Latinamerica behind Venezuela, Jamaica and Argentina, according to data from Uruguay’s central bank. Overall the global slowdown impacted on the region with lower inflation rates.

• Thursday, January 14th 2010 - 04:53 UTC

  Mrs. Kirchner resuscitates ghosts from the 2001/02 default crisis

  

  Argentine president Cristina Fernandez de Kirchner on Wednesday again attacked the opposition and called for “reflection” from all those sectors involved in the dispute over Central Bank reserves to avoid repeating the “errors of the past”.

• Thursday, January 14th 2010 - 03:05 UTC

  UK economy could be crawling out of recession, according to latest data

  

  The UK economy grew in the fourth quarter of 2009 for the first time since the summer of 2008, according to forecasts published Wednesday.

• Wednesday, January 13th 2010 - 12:16 UTC

  Argentine central bank reserves dispute adds another player: New York Judge

  

  Argentina’s central bank reserves dispute suffered an expected escalation when on Tuesday Judge Thomas Griesa from New York State placed an embargo on Argentine central bank accounts held in the United States, following a lawsuit filed by investment funds (or “vulture funds”).

• Wednesday, January 13th 2010 - 08:26 UTC

  Chavez keeps his word and closes shops for price rises following devaluation

  

  Venezuelan government inspectors backed by soldiers have shut more than 70 shops in Caracas and other cities accused of trying to cash in on last week's currency devaluation. Soldiers have been on the streets to check prices as people queue to buy imports, fearing prices could rise.

• Wednesday, January 13th 2010 - 08:12 UTC

  US trade deficit jumps 10% and exports grow for seventh month running

  

  The United States trade deficit shot up nearly 10% to 36.4 billion US dollars in November, hitting a 10-month high, the Department of Commerce said on Tuesday. Demand for imports is growing, as the US economy slowly gets back on its feet.

• Tuesday, January 12th 2010 - 21:41 UTC

  China ups bank reserves and reiterates 2010 “moderate” credit growth policy

  

  China announced that banks will have to hold more cash in reserves to help cool the world’s fastest-growing major economy as a credit boom threatens to stoke inflation and create asset bubbles.