The influential economist Nouriel Roubini, who rose to prominence for predicting the global credit crisis, said there is a risk that advanced economies will suffer a double dip recession and pointed out he saw more signs of yellow weeds than the green shoots of economic recovery.
The head of Argentina’s powerful Industrial Union, UIA, said the country is going through “a political crisis” which is more severe than the economic crisis and ventured that the current electoral climate “does not offer significant political alternatives or leaderships”.
Amidst global economic recession and financial-market fragility, net private capital inflows to developing countries fell to 707 billion US dollars in 2008, a sharp drop from a peak of 1.2 trillion in 2007. International capital flows are projected to fall further in 2009, to 363 billion US dollars, according to the latest report from the World Bank.
Ecuador together with the Caribbean islands of Saint Vincent and Grenadines and Antigua and Barbuda will be joining the Venezuelan sponsored Bolivarian Alternative of the Americas, ALBA, during a summit this week in Venezuela, announced President Hugo Chavez.
Europe's central bank chief on Sunday cautioned against any new government stimulus plans and predicted the global economy will pick up in 2010. But he also warned it would be a mistake to believe that recovery is a foregone conclusion.
World hunger is projected to reach a historic high in 2009 with 1.020 million people going hungry every day, according to new estimates published by FAO this week.
With the second-highest recorded cereals crop expected this year and stocks replenished, the world food supply looks less vulnerable to shocks than it was during last year’s food crisis, FAO said in its Food Outlook report published this month. But some potential dangers remain, it also noted.
The possible merger between the leading Brazilian meat groups, Marfrig and JBS Bertin could create the largest corporation in the world and among other things dominate over 30% of the Uruguayan cattle demand market.
Argentina's May trade surplus soared 139% from a year ago to 2.48 billion US dollars because of a sharp drop in imports as the economy slows, the government said on Friday.
Britain’s Business Secretary Lord Mandelson said the US government has given a positive response to his case for continued General Motors production in the UK.