Uruguay's overall debt at the close of the second quarter was 18.2 billion US dollars, having increased 779 million US dollars over the first quarter, thus totalling the equivalent to 68% of GDP. At the end of March the debt/GDP ratio was 70%.
The European Commission said on Tuesday it is in close contact with the Irish government over its decision to guarantee all bank deposits. Concerns have been raised that Dublin's move may give Irish banks an unfair advantage over foreign competitors.
Argentina's sovereign debt spreads topped 1,000 basis points on the JPMorgan EMBI+ index 11EMJ on Wednesday as investors worried about the country's ability to keep servicing debt in coming years, amid tighter credit conditions.
Remittances from Mexicans living in United States dropped 12% in August, the largest fall since the Bank of Mexico began tracking records twelve years ago, the country's Central bank reported on Wednesday
Chile's Central Bank on Monday called an early halt to the 8 billion US dollars foreign-exchange intervention plan that has seen the peso depreciate 22% against the US dollar since April arguing the impact of international financial markets.
Brazil's Real plummeted the most in nine years, weakening past the 2-per-dollar level, as a direct consequence of the US House of Representatives rejection of the 700 billion US dollars bailout package for the financial system.
Argentina and Brazil will be launching in a week's time a de-dollarized trade system for small and medium companies which should considerably reduce financial costs that could be extended in the near future to the tourism industry, according to banking sources quoted in Buenos Aires La Nacion.
Argentina signed an agreement with three banks to attempt to restructure debts to sovereign bond holders who rejected a 2005 settlement over a historic default, the government announced Monday.
The United States House of Representatives voted unanimously on Monday to approve a one-year extension of trade benefits for Colombia, Peru, Ecuador and Bolivia that expire at the end of the year.
Mexican billionaire Carlos Slim and Latinamerica's richest man is calling the current financial crisis the worst he has ever seen and anticipated it is going to impact everybody. It's a very difficult situation and it will affect all economies he added.