
Argentina's Statistics and Census Office, Indec, announced Monday that July consumer prices index reached 0.4%, below analysts' forecasts and market estimates, further deteriorating the credibility of President Cristina Fernandez de Kirchner administration.

The United Nations Environment Programme (UNEP) announced that it will implement a new initiative to better protect bees, bats, birds and others that are essential to global crop production and biodiversity.

The Uruguayan government is planning to implement a program of permit-requests for the sowing of soybeans the coming season as part of a plan for the conservation of the soil sponsored by the Ministry of Agriculture and Livestock.

Argentina's foreign debt rating was cut Monday by Standard & Poor's from B+ to B, five levels below investment grade and in line with countries such as Jamaica and Paraguay. Concerns over slower economic growth, lower tax revenue and mounting investor mistrust in inflation data which erodes confidence in the government have been decisive for the new rating.
The Argentine government announced the purchase of 2008 and 2009 bonds, --plus interest payments in advance-- in an effort to ease markets which have shown great anxiety over the political situation and economic slowdown of Argentina, particularly last week.

With food prices rising, a greater number of Santiago households appear to be turning to alternative food markets.

The Euro slid beneath the 1.50 US dollar Monday to 1.4966 amid concern over the Euro zone economic outlook and confidence that the European Central Bank won't raise interest rates anytime soon.

China's main measure of wholesale inflation accelerated in July to its fastest since 1996, adding to headaches for the government as it tries to rein in surging consumer prices, according to data reported Monday.

The Bank of England decided on Thursday to keep interest rates on hold at 5% as it struggles to deal with a slowing economy and spiraling inflation. Many reports have shown the economy heading for a significant slowdown or even a recession.
The European Central Bank (ECB) has kept its interest rate benchmark unchanged at 4.25% amid signs of slowing economic growth. ECB President Jean-Claude Trichet said growth in the 15-nation bloc had been particularly weak in mid-2008.