Economy

• Wednesday, April 11th 2012 - 16:59 UTC

  IMF will make compulsory review of economy in spite of Argentina’s refusal

  

  The International Monetary Fund will make a compulsory review of Argentina’s economy because of the country’s refusal to allow the multilateral organization to examine its finances since 2006, the Buenos Aires media reported on Wednesday quoting IMF sources.

• Wednesday, April 11th 2012 - 13:24 UTC

  Hillary says US interested in “a 21st century partnership” with Brazil

  

  Secretary of State Hillary Clinton described Brazil as a “responsible country” in world affairs and praised Brazil’s “growing impact in global stability and security”, during an event at the US Chamber of Commerce.

• Wednesday, April 11th 2012 - 06:38 UTC

  Paraguayan economy forecasted to suffer a strong contraction this year

  

  The economy of Mercosur junior member Paraguay, is set to remain flat or even suffer a slight contraction in 2012 after several years of sustained growth announced on Tuesday the country’s central bank.

• Wednesday, April 11th 2012 - 02:13 UTC

  Half a million Argentine tourists ‘invaded’ Chile during the first quarter of 2012

  

  In the first quarter of this year, 1.2 million foreign tourists arrived in Chile, which represents a 14% increase over the same period a year ago, reported the Under Secretary of Tourism Jacqueline Plass.

• Wednesday, April 11th 2012 - 02:06 UTC

  Brazil will bring up Europe poultry-meat subsidies at next Mercosur/EU trade round

  

  Brazil has given a clear indication of its intention to attack European export subsidies for poultry-meat the next time Mercosur and the EU meet to discuss a possible cooperation and trade agreement.

• Wednesday, April 11th 2012 - 00:38 UTC

  Bernanke says more bank regulation is needed to ensure stable financial system

  

  US Federal Reserve Chairman Ben Bernanke said banks need to have more capital at hand in order to ensure the financial system is stable. Bernanke said regulators were taking steps to force financial institutions to hold higher capital buffers, even if they allow for a long period of implementation to prevent any market disruptions.

• Wednesday, April 11th 2012 - 00:30 UTC

  IMF analyzes impact of household debt and soaring house prices on recessions

  

  Housing busts and recessions are more severe and last for at least five years when they follow a big run-up in household debt, according to a study released by the International Monetary Fund. For that matter, the IMF has urged governments to consider “bold” interventions to reduce household debt levels and stimulate growth.

• Tuesday, April 10th 2012 - 23:17 UTC

  Brazil deepens technology cooperation with Massachusetts Institute of Technology

  

  Brazil's President Dilma Rousseff on Tuesday launched an initiative to deepen ties with the prestigious Massachusetts Institute of Technology (MIT). After meeting Monday at the White House with President Barack Obama, Rousseff continued her short visit to the United States with meetings in the Boston area where MIT is based.

• Tuesday, April 10th 2012 - 23:10 UTC

  US confirms poor soy crops in Argentina and Brazil; prices soar to 2008 levels

  

  Drought in major soybean producers Brazil and Argentina cut their production more deeply than expected the US government said on Tuesday in a report that drove prices to near their highest since 2008.

• Tuesday, April 10th 2012 - 16:30 UTC

  Brazil targets a dollar floor of 1.80 Reais and questions private banks attitude

  

  Having a floor of 1.80 Real to the US dollar is no great thing, but it is a target to sustain said Brazil Development, Industry and Foreign Trade minister Fernando Pimentel referring to the latest announcements to promote Brazilian industry battered by a strong currency and massive inflow of ‘cheap’ imports.