Economy

Tuesday, July 21st 2009 - 11:19 UTC
Argentina’s primary surplus falls for seventh month running

Argentina's primary budget surplus plunged 65% in June compared to year earlier, marking the seventh straight month of worsening budget results, the government said on Monday.
Monday, July 20th 2009 - 13:48 UTC
Signals the worst of the global crisis in Uruguay is moderating

Private analysts and government officials believe there are signs the worst impacts of the global crisis on the Uruguayan economy are moderating. The Leader Index from the local domestic economics analysis think-tank Ceres, last May stabilized after having fallen for seven months running.
Monday, July 20th 2009 - 13:40 UTC
New Argentine economy minister confirms Kirchner’s model

Argentine Economy minister Amado Boudu discarded the implementation of “shock measures” and anticipated some changes will take place “to strengthen some institutions”. But he emphatically confirmed the continuation on course of “the 2003 political project”.
Monday, July 20th 2009 - 13:32 UTC
Argentina’s trade surplus in six months jumps 91.7%; imports down 38%

Argentina’s trade surplus jumped 91.7%, equivalent to 9.8 billion US dollars in the first half of this year compared to the same period a year ago, according to the latest release from the country’s statistics office, Indec.
Monday, July 20th 2009 - 12:51 UTC
Argentina planning to remove bonds adjusted to inflation

Argentina will seek to remove from the bonds market nearly 40% of its sovereign debt and meet all its financial obligations, Economy Minister Amado Boudou was quoted by a Buenos Aires daily on Sunday.
Saturday, July 18th 2009 - 15:15 UTC
Brazilian economy giving signs the worst of the recession is over

Brazil’s currency Real had its biggest weekly gain in almost two months on optimism the worst of the global recession is over. The Real climbed 3.6% this week, the most since the period ended May 22 rising 0.3% to 1.9261 per US dollar on Friday. So far this year the Real has strengthened 20%.
Saturday, July 18th 2009 - 15:11 UTC
Argentina’s economy worst monthly performance in seven years

Argentina’s economy had its worth monthly performance in almost seven years in May amid slumping industrial production and construction. Economic activity was unchanged in May from a year earlier, the first time the government hasn’t recorded growth since November 2002. The economy rose 0.1% in May from April, according to the national statistics agency, Indec.
Saturday, July 18th 2009 - 14:47 UTC
White House defends stimulus plan in spite of soaring unemployment

United States President Barack Obama's 787 billion US dollars stimulus package is working, top White House economic adviser Lawrence Summers insisted on Friday. And although unemployment is a “major area of concern”, Mr Summers said rising joblessness does not prove that the stimulus “is falling short”.
Friday, July 17th 2009 - 11:13 UTC
Latinamerica food prices remain 25% higher than two years ago says FAO

Domestic food prices in developing countries, particularly Latinamerica remain high despite a sharp decline in international prices and overall good cereal harvests, FAO warned on Thursday in its latest Crop Prospects and Food Situation report.
Friday, July 17th 2009 - 11:08 UTC
Roubini proposes another stimulus plan to contain US unemployment

New York University professor Nouriel Roubini, one of the few economists who accurately predicted the magnitude of the financial crisis, reiterated on Thursday that the worst of the turmoil has passed. But also emphasized the US will need a second fiscal stimulus, possibly by the end of this year to face two digits unemployment.