The IMF warned Greece it must redouble reform efforts to avoid derailing its fiscal program, key to dealing with a huge debt mountain.The sternest IMF warning since a 110 billion Euro EU/IMF bailout a year ago pulled the troubled Euro zone member back from the brink of bankruptcy was delivered as European officials raised the possibility of a Greek debt restructuring.
Brazil’s Finance Minister Guido Mantega said dollar inflows into the country have returned to a “reasonable” level, after the government took steps to stem a flood of foreign money.
China has started rationing electricity to try and stave off an energy shortage that government officials say could be the worst since 2004. State-owned power generating companies are dealing with high global energy prices that have cut their profits.
China has also banned the export of diesel, to try to meet domestic demand.
Uruguay started marketing a sale of 10-year Samurai bonds guaranteed by the Japan Bank for International Cooperation, according to reports in the Montevideo and Tokyo financial press.
Dominique Strauss-Kahn is not in a position to run the International Monetary Fund after his arrest over an alleged sexual assault, US Treasury Secretary Timothy Geithner has said. He added IMF's executive board should designate an interim head.
The alleged assault on a maid happened at New York's luxury Sofitel hotel on 14 May.
The United States dollar status as the world’s single reserve currency will end by 2025, according to a new report by the World Bank.
Argentina and Brazil agreed Tuesday to resume ‘constructive’ trade negotiations to overcome the current bilateral dispute which surfaced following the latest protectionist measures that threaten exports from the two main Mercosur partners.
Brazil announced it was imposing non automatic import licences on synthetic fibre blankets from Paraguay, Uruguay and China, according to an official communiqué from the Brazilian Ministry of Development, Industry and Foreign Trade released Tuesday.
Brazil’s former Foreign Affairs minister Celso Amorim said that the next IMF Managing Director must come from an emerging economy if Dominique Strauss-Kahn, currently in custody in New York on alleged rape charges finally looses his job.
A group of Brazilian banks and funds have created a company called Sete Brasil that will build seven deep-water rigs for state-run oil company Petrobras offshore exploration campaign, Petrobras announced on Monday.