Economy

Tuesday, March 17th 2009 - 09:58 UTC
Mercosur feeling the crunch particularly in trade and credit access

Mercosur is already feeling the effects of the global crisis in its foreign sector and economic activity, according to a report from the prestigious Argentine consultants Ecolatina.
Monday, March 16th 2009 - 11:08 UTC
Colombian presidential hopeful says time is ready to end US aid

Colombia’s Vice-President Francisco Santos said the country does not need any longer United States funds to combat the narcotics trade and guerrillas movements because time is up “and we don’t need them”.
Sunday, March 15th 2009 - 15:29 UTC
Pte. Obama and Lula da Silva review global economy

President Barack Obama and Brazilian President Luiz Inacio Lula da Silva discussed the economy, energy and the environment Saturday during their first White House meeting.
Saturday, March 14th 2009 - 14:54 UTC
Paraguay is asking Brazil to pay 16 times more for Itaipú energy

Paraguay is a poor country and is fighting for a fair market price for its share of energy generated at South America’s largest hydroelectric dam shared with Brazil. “Somehow we are subsidizing Brazil’s energy”, said Paraguayan president Fernando Lugo in an interview with the Spanish daily El Mundo.
Saturday, March 14th 2009 - 09:44 UTC
US and EU split over stimulus plans and banks

United Kingdom Chancellor Alistair Darling has played down talk of rifts between the US and Europe ahead of the G20 summit. Finance ministers from leading countries are gathering in London to agree the agenda for the summit of world leaders next month.
Saturday, March 14th 2009 - 09:38 UTC
Tax havens agree to relax bank secrecy laws

British Prime Minister Gordon Brown hailed announcement that Switzerland is relaxing key bank secrecy laws as “the beginning of the end of tax havens.”
Saturday, March 14th 2009 - 07:45 UTC
Lula da Silva confident of US recovery but cautious about protectionism

Brazilian President Lula da Silva said on Friday that counteracting the global credit crunch and preventing a wave of protectionism will be high on the agenda when he meets US President Barack Obama on Saturday.
Thursday, March 12th 2009 - 15:43 UTC
Peru signalled as only Latam country to slip from recession

Peru is the only Latin American country likely to escape slipping into recession this year, a senior World Bank official said on Wednesday.
Thursday, March 12th 2009 - 11:04 UTC
Brazil cuts basic interest rate to 11.24%, the most in five years

Brazil’s Central bank slashed the Selic benchmark interest rate by 150 points to 11.25%, the most in five years. The vote was unanimous and follows a barrage of negative data about South America’s largest economy.
Thursday, March 12th 2009 - 04:17 UTC
Chinese exports plunge 26% in February; domestic car sales up 25%

Chinese exports plunged by more than a quarter in February from a year ago as the world's third-largest economy was hit by a drop in demand for its goods. Exports dropped by 25.7% to 64.9 billion US dollars compared with the same month a year earlier, while imports fell by 24.1% to 60.1 billion according to official figures.