Economy

• Wednesday, January 18th 2012 - 23:38 UTC

  IMF anticipating major storms wants to boost war chest by 600 billion dollars

  

  The International Monetary Fund is seeking to boost its war chest by 600 billion dollars to help countries reeling from the Euro zone debt crisis, but some nations insist Europe must first do more to support its ailing members, international financial sources said on Wednesday.

• Wednesday, January 18th 2012 - 17:02 UTC

  Argentina prepares list of capital goods subject to higher import tariffs

  

  The Argentine government has began a round of consultations with the manufacturing sector to determine which capital goods from non Mercosur members can be listed for a higher common external tariff as was recently agreed by the trade block.

• Wednesday, January 18th 2012 - 16:46 UTC

  Uruguay’s economy minister, second best in the region for two years running

  

  The Economy ministers from Colombia, Uruguay and Peru have been rated as the best in Latin America according to the financial magazine America Economica, a publication from the Chilean company Nanbei which does the annual survey based on interviews with 70 Latin American economists.

• Wednesday, January 18th 2012 - 05:16 UTC

  Brazil plans to further fund the Development bank anticipating credit crunch

  

  Brazil is considering injecting more funds to the National Development bank, BNDES for the fifth year running in anticipation of a possible shortage of long term credit in the economy, said Arno Augustin, Secretary of the Treasury.

• Wednesday, January 18th 2012 - 05:12 UTC

  Drought emergency in central Argentina and Paraguay but no sufficient rains on sight

  

  Argentine corn and soy farms will suffer from hot weather and scant rains for the rest of this week, forecasters said on Tuesday, increasing worries that crop losses will eat into global supplies.

• Wednesday, January 18th 2012 - 03:20 UTC

  Rating agencies forecast Greece’s default…but in an orderly manner

  

  Like in Colombian Nobel Prize Gabriel Garcia Marquez novel “Chronicle of a Death Foretold” Fitch rating agency said on Tuesday that Greece would default on its debt, although it anticipated that such a default was likely to take place in an orderly manner.

• Wednesday, January 18th 2012 - 03:13 UTC

  Argentine defaulted bonds dispute reaches the US Supreme Court

  

  The US Supreme Court has asked President Barack Obama's administration for its views of a ruling that unfroze 105 million dollars of Argentina's central bank deposits in a setback for two US investment funds that sought to seize the money to satisfy their claims from Argentina’s debt default a decade ago.

• Wednesday, January 18th 2012 - 02:38 UTC

  Colombia aims to become Latam third largest economy by 2015

  

  Colombia aims to be Latin America's third largest economy after Brazil and Mexico by 2015, said the country's trade minister this week during a business conference in Madrid.

• Tuesday, January 17th 2012 - 07:00 UTC

  Brazil economy rebounds in November boosted by domestic consumer spending

  

  Brazil’s economy grew at its fastest pace in 19 months in November, reversing a three-month contraction, as a recovery in consumer spending helped Latin America’s largest economy shrug off a global slowdown. Yields on interest rate futures rose.

• Tuesday, January 17th 2012 - 06:48 UTC

  Brazil and FIFA try to solve differences ahead of the 2014 World Cup

  

  Brazil had been demanding too much in negotiating the conditions for hosting the 2014 World Cup but a legal dispute should be settled within days, FIFA said on Monday.