Economy

Saturday, October 9th 2010 - 00:21 UTC
Argentina claims IMF wants rich world’s “stagnation” exported to developing countries

“The IMF wants to make us believe that the policies which caused the crisis are now going to be part of the solution”, said Argentina’s Central bank president Mercedes Marcó del Pont following the opening of the IMF/World Bank annual assembly.
Saturday, October 9th 2010 - 00:15 UTC
US dollar steady decline in Chile linked to rising copper prices

The US dollar’s value against the Chilean peso experienced a sharp drop in the second semester of 2010. The exchange rate has been on a steady decline, devaluing by 63 pesos since July, until closing Wednesday at 482.7 pesos to the dollar – which was a daily drop of 0.4 pesos.
Friday, October 8th 2010 - 19:03 UTC
Private sector calls on governments for the EU/Mercosur trade agreement

Chambers of Commerce from Europe, Brazil and Uruguay called on their governments to give a new thrust to negotiations for an ambitious cooperation and trade EU/Mercosur agreement.
Friday, October 8th 2010 - 00:42 UTC
“Global currencies and trade wars” led to Great Depression warn IMF and WB

World leaders must defuse currency tensions before they worsen to avoid repeating the mistakes of the Great Depression, the head of the World Bank President Robert Zoellick told reporters.
Friday, October 8th 2010 - 00:15 UTC
Argentina calls IMF a “non prestigious, absolutely inefficient institution”

While the International Monetary Fund said it hopes Argentina will normalize relations with the multilateral institution, the Argentine Foreign Affairs minister Hector Timerman described the IMF as “non prestigious organization”.
Friday, October 8th 2010 - 00:12 UTC
Brazil forecasts crop will reach a record 148.9 million tons in 2010 farm year

Brazil forecasts a record crop of cereals and oilseeds totalling 148.9 million tons, the largest ever, according to the latest release from the Brazilian Geography and Statistics Institute, IBGE.
Thursday, October 7th 2010 - 00:28 UTC
Uruguayan economy, second best performer in Latinamerica, forecasts IMF

The IMF expects the Uruguayan economy to expand strongly this year, 8.5% and 5% in 2011 in a world framework which is experiencing the slow consolidation of recovery but still highly vulnerable.
Thursday, October 7th 2010 - 00:24 UTC
Uruguay targets EU tariff free feed-lot beef quota

Uruguay is optimistic about taking a share of the tariff free 20.000 tons of the feed-lot beef quota which the European Union establishes annually. The dossier with all the requested information has been sent to the EU and if finally approved would further boost the Uruguayan cattle and meat industries which are experiencing one of its best moments in history.
Wednesday, October 6th 2010 - 23:54 UTC
IMF recommends Latam fiscal savings to address persistent capital inflows

Latin America is exiting from the global financial crisis faster than anticipated, and should use the opportunity to boost fiscal savings that can slow inflation and prevent overheating, the IMF said Wednesday.
Wednesday, October 6th 2010 - 23:21 UTC
Chilean state oil company ENAP strikes natural gas deposit in Tierra del Fuego

Chilean state owned oil and gas company Empresa Nacional del Petroleo SA, Enap, discovered a new natural-gas well on the Arenal exploration block on the Tierra del Fuego island in the extreme south Magallanes region, the company said Wednesday.