The IMF predicted the UK would grow by 1.4% in 2008 and 1.1% in 2009, down from the 1.8% for 2008 and 1.7% for 2009 that it predicted in July.
The United States budget deficit is expected to reach 400 billion US dollars in 2008, according to estimates from the Congressional Budget Office.
Uruguay's exchange rate which has a significant influence for the country's exports has advanced strongly against virtually all of its trade partners with the exception of Brazil.
The Inter-American Development Bank (IDB) reported that Peru's growth expectations rose from 7.8 to 8.3% in 2008, placing Peru as the country with the highest growth rate in the region.
The controversy surrounding Argentina's Statistics Office, Indec, has been aired by some of the closest allies of President Cristina Fernandez de Kirchner administration who are also questioning the reliability of the reports, particularly those regarding inflation.
Freddie Mac, which offers funding for a huge proportion of United States mortgages, has posted a quarterly loss amid continued problems in the housing market. As mortgage defaults climb and house prices sink, it made a loss of 821 million US dollars in the three months to the end of June, down from a profit of 729 million.
Latin American stock markets plunged Monday, led by a slide in Brazilian and Mexican equities as prices for resources sparked a broad sell-off and growing fears about the performance of the US economy.
Europe's largest bank HSBC has warned that conditions in financial markets are at their toughest for several decades after suffering a 28% fall in half-year profits. HSBC saw profits drop by 3.9 billion to 10.2 billion US dollars in the first six months of the year, as its North American arm made a 2.8 billion loss.
Consumer spending in the United States slowed in June, while inflation in June was the highest since 1981. Inflation-adjusted spending fell 0.2% in June, according to the US Commerce Department.
China policies in support of small and labor intensive enterprises are taking effect and there is no need for more adjustment measures, said on Monday a high ranking Chinese member of the Communist party.