Economy

• Thursday, May 26th 2011 - 18:52 UTC

  Former minister criticizes Argentine economy management and warns on inflation

  

  Argentina’s former cabinet chief Alberto Fernandez warned that the government is “not looking at the economy as it should” and is risking “all the good things that have been done so far”. He was also very critical of Economy minister Amado Boudou.

• Thursday, May 26th 2011 - 18:31 UTC

  Uruguay’s beef and lamb exports up in value but down in volume

  

  Uruguay’s beef exports in the first four months of 2011 have been lower in volume but higher in revenue compared to the same period a year ago. Something similar is happening with lamb although the fall in volume was even greater.

• Thursday, May 26th 2011 - 18:27 UTC

  Record rice crop in Uruguay: 1.65 million tons but farmers concern with prices

  

  Uruguay harvested a record crop of rice this year totalling 1.65 million tons and marked the second highest area planted with the cereal, 195.000 hectares compared to the 200.000 of eleven years ago.

• Thursday, May 26th 2011 - 07:10 UTC

  Argentine/Brazil trade talks stalled but ‘technical negotiations’ were good

  

  Brazilian Industry Secretary Alessandro Teixeira said on Wednesday that no progress has been made so far regarding the trade impasse over Brazil’s import delays for Argentine cars and auto parts, but denied any crisis with Argentina since negotiations are on-going.

• Thursday, May 26th 2011 - 00:41 UTC

  Lagarde and Carsterns are both “credible” candidates to lead IMF says US

  

  United States Treasury Secretary Timothy Geithner said France's Christine Lagarde and Mexico's Agustin Carstens are both “credible” candidates to lead the International Monetary Fund, but he wants the candidate who can earn the broadest support.

• Thursday, May 26th 2011 - 00:35 UTC

  Philip Morris takes Uruguay to international court because of tobacco-ban policy

  

  One of the world’s biggest tobacco companies is launching a claim against Uruguay for considering the country’s legislation commercially damaging to the company. Philip Morris corporation has filed a claim at the International Centre for Settlement of Investment Disputes (ICSID), a World Bank branch.

• Wednesday, May 25th 2011 - 15:37 UTC

  OECD forecasts risks for world economy including ‘staginflation’

  

  The global economic recovery still faces many risks, which could lead to “stagflation”, the OECD has said in its latest economic outlook. World growth is forecast to be 4.2% this year, down from 4.9% last year, before rising to 4.6% in 2012.

• Wednesday, May 25th 2011 - 07:20 UTC

  Brazil/Argentina agree monthly trade meetings and gradual liberation of licences

  

  Brazil and Argentina agreed to monthly meetings on commerce, Argentina said, as the neighbouring countries try to overcome tensions that flared earlier this month over car imports.

• Wednesday, May 25th 2011 - 07:00 UTC

  BRIC countries slam Europe’s ‘obsolete grip’ on the IMF top job

  

  Top emerging economies joined forces to slam Europe's “obsolete” grip on the IMF top job, even as France's finance minister appeared to strengthen her lead in the race to replace Dominique Strauss-Kahn.

• Wednesday, May 25th 2011 - 06:56 UTC

  Chinese credit rating agency downgrades UK with a negative outlook

  

  UK's credit rating has been cut by the Dagong rating agency of China. The agency blamed the UK's sluggish growth, which it said would be stuck in the 1.3%-1.5% range for two more years, hurting government finances.