Economy

• Thursday, February 25th 2010 - 01:21 UTC

  World trade drops 12% in 2009; re-launching Doha round “imperative”

  

  World Trade Organisation director-general Pascal Lamy said on Wednesday that international trade fell by 12% in 2009, a marked deterioration on previous estimates which put the drop closer to 10%.

• Thursday, February 25th 2010 - 01:16 UTC

  Good prospects in 2010 for Latam commodities and energy exporters

  

  A report released this week in Mexico by the inter American Development Bank, (IDB) forecasts a good year for Latinamerican countries exports of commodities and energy but a slower recovery for Central America and the Caribbean more dependent on tourism and remittances.

• Wednesday, February 24th 2010 - 06:46 UTC

  Officially recession is over but Mexico’s economy contracted 6.5% in 2009

  

  Mexico’s GDP shrank by 6.5% last year amid the global recession, greater than the 6.2% of 1995 but the less severe end of the range of 6.5 percent to 7.5% decline forecast by the Mexican central bank.

• Wednesday, February 24th 2010 - 02:29 UTC

  Intra-Mercosur trade experienced one of its worst years in 2009

  

  Trade among Mercosur members plummeted in 2009 under the effects of the international slowdown which severely limited access to financing and made credit in the region harder to obtain, according to a report from the Inter American Development bank, IDB.

• Tuesday, February 23rd 2010 - 03:26 UTC

  Financier Soros warns about future of the Euro and Euro-zone

  

  The Euro risks falling apart unless Euro-zone member nations alter the way they tackle future debt crises, financier George Soros warned Monday in an article published in the Financial Times.

• Tuesday, February 23rd 2010 - 02:18 UTC

  IMF suggests Uruguay returns to “fiscal objectives” and creates “energy fund”

  

  The International Monetary Fund, IMF suggested Uruguay should retake its most ambitious “fiscal objectives” in the coming five-year budget to be discussed this year by the new parliament. The emphasis should be in “restricting” outlays since the current level of salary increases for civil service is “not sustainable”.

• Monday, February 22nd 2010 - 23:51 UTC

  Goldman Sachs defends 2001 swap-deal to mask debts of Greece

  

  Goldman Sachs defended the 2001 debt-swap deal with Greece that may have allowed the country to mask the extent of its debt woes. Gerald Corrigan, chairman of Goldman Sachs Bank USA, the bank's holding company, said it was “consistent” with the regulations of the time.

• Monday, February 22nd 2010 - 01:01 UTC

  Ecuador strongly defends relations with Iran, in spite of black list

  

  Ecuador's inclusion on an international list of nations accused of lagging in the fight against money laundering is a hypocritical punishment for its relations with Iran, Ecuador's president said during his weekly television address.

• Sunday, February 21st 2010 - 01:09 UTC

  Germany denies “concrete” aid package for Greece

  

  Germany’s Finance Ministry said on Saturday it has no specific plans for helping Greece combat its deficit crisis, denying a magazine report that euro-area governments may offer as much as 25 billion Euros in aid.

• Saturday, February 20th 2010 - 21:20 UTC

  US Fed members insists borrowing costs will remain low

  

  The US Federal Reserve poured cold water on speculation that a surprise hike to its emergency lending rate signalled a change in monetary policy, saying borrowing costs in the economy would remain low.