Economy

• Wednesday, September 19th 2012 - 21:15 UTC

  Don’t wait for the end of the EU crisis: boost trade among emerging economies, recommends Brazil

  

  Brazilian finance minister Guido Mantega said that resolving Europe’s economic problems are likely to drag out over coming years due to a complex and slow process of decision-making in the region and recommended emerging economies to promote domestic consumption and trade among them.

• Wednesday, September 19th 2012 - 06:22 UTC

  Argentina Paypal-users activities limited to international payments

  

  Paypal is to prevent users in Argentina from transferring money between their own accounts. The online payment service said that from 9 October: “Argentina resident Paypal-users may only send and receive international payments.”

• Wednesday, September 19th 2012 - 06:12 UTC

  Bad debts held by Spanish banks reach 169bn Euros or 10% of total loans

  

  The value of bad debts held by Spain's banks in July rose to 169.3bn Euros, according to latest figures from the central bank. The Bank of Spain said 9.9% of banks' total loans were in arrears, up from 9.4% a month before.

• Wednesday, September 19th 2012 - 06:05 UTC

  Argentine economy to expand 1% this year, according to private estimates

  

  The Argentine economy is expected to grow 1% this year with manufacturing activity virtually stagnant, according to the head of a leading economic consultancy agency in Buenos Aires who nevertheless admits that the government stats “will probably show a better performance”.

• Wednesday, September 19th 2012 - 05:55 UTC

  IMF, World Bank annual meetings return to South America after 48 years

  

  The 2015 Annual Meetings of the World Bank Group and the International Monetary Fund will take place in Lima, Peru, in October 2015, following a vote by the Boards of Governors of the two institutions.

• Wednesday, September 19th 2012 - 05:51 UTC

  IMF calls on Argentina to implement measures on the quality of official data

  

  The International Monetary Fund announced on Tuesday that it “regretted the lack of sufficient progress” with Argentina to address the quality of the official data reported by the country and urged it to come up with a response to the organization’s concerns by December 17th.

• Wednesday, September 19th 2012 - 05:47 UTC

  Soy supply in 2013 expected to be highly dependent on South American supply

  

  A leading international consultant on grains and oilseeds estimates that Argentina’s soy crop could increase 38% to 56 million tons in 2013, a year when world supply will become more dependent on South America because of smaller inventories in countries such at the US and China.

• Wednesday, September 19th 2012 - 05:20 UTC

  Argentina inflation expectations 30% and 20 percentage points above official index

  

  Argentina's 12-month inflation expectations held steady for a seventh consecutive month at 30% in September, according to the median estimate in a survey published by the Torcuato Di Tella University, UTDT. However after three steady months expectations eased with the average response sliding to 34.9% from 39.8% in August.

• Wednesday, September 19th 2012 - 01:48 UTC

  Brazil reacts to US stimuli saying it will keep the Real ‘devalued’ and competitive

  

  The latest round of US quantitative easing will create many problems for emerging countries and Brazil will take action to keep the Real from rising in value, Brazilian Finance Minister Guido Mantega said on Tuesday.

• Tuesday, September 18th 2012 - 21:52 UTC

  Swiss banks fear withdrawals of “hundreds of billions” because of new taxes

  

  UBS expects Swiss banks to see European clients withdraw “hundreds of billions of francs” as a result of steps to stop foreigners using secret accounts to evade taxes, warned Juerg Zeltner, head of UBS wealth management.