Brazil's auto sales rose slightly in February thanks to a temporary government tax break that reduces car prices, the National Motor Vehicle Manufacturers Association, Anfavea, said on Monday.
The global economy may soon see signs of improvement, according to the heads of the world's major central banks. European Central Bank head Jean-Claude Trichet said that the world economy could be approaching a pick-up point.
Brazil should further reduce barriers to trade in order to boost its economy, particularly given the global economic downturn, the World Trade Organization (WTO) said in a report released Monday.
With many in the private sector eschewing emerging markets, developing countries – only one quarter of which have the resources needed to prevent a spike in poverty – face a financing shortfall of up to 700 billion US dollars this year, according to the World Bank.
Chile’s economy is forecasted to expand 0.2% in 2009 according to the latest Central Bank Expectations Survey compiled during March. This is a significant drop from the previous survey in February when the forecast was 1.2%.
Soybean and corn output in Brazil this year will drop less than previously forecasted following abundant rains last month which eased crop damage caused by a drought, according to the Ministry of Agriculture.
Uruguayan president Tabaré Vázquez underlined during a political rally over the weekend the successes of his administration and said the country was better prepared to face the current global crisis.
The world should adopt economic stimulus plans that carry well into 2010, and possibly 2011, to ease a global recession and must expand financial regulation across all sectors to prevent a similar crisis in future, said the International Monetary Fund.
The Australia-Chile Free Trade Agreement came into force on Saturday 6 March, the first trade agreement between Oceania and a Latinamerican country. Besides trade the agreement covers services, investments, government purchases and intellectual property plus a special chapter on academic and scientific cooperation.
Britain’s Lloyds Banking Group is close to a deal with the government for a £258bn asset insurance scheme, according to BBC sources. The agreement could increase the taxpayer's share in the bank from its current level of 43% to as much as 70%, according to reports.