The World Bank appointed Chinese national Justin Lin as its chief economist, the first time the post has gone to a candidate outside Europe and the U.S.
Uruguay's consumer prices index, CPI increased 0.78% in January, below expectations but the largest monthly rise since last August, 1.73%. January's CPI a year ago was 1.77% and in 2006, 1.37%. The last twelve months CPI now stands at 7.44%, still above the 3 to 7% Central Bank target.
Brazil's trade surplus narrowed to a 5 and a half year low in January as a cheaper dollar and rising consumer demand pushed imports to a record high. Imports increased to 12.3 billion US dollars in January from 10.6 billion in December.
In spite of a surge in expenditure in the last quarter Uruguay managed to keep to its fiscal target in 2007 with a budget deficit equivalent to 0.34% of GDP, below the 0.5% established in the Central Bank financial program.
The MoD reported that RFA Lyme Bay was preparing to sail to Tristan da Cunha, where urgent repairs to the main harbour are required.
Ben S. Bernanke's decision to lower interest rates 1.25 percentage points last month will end the dollar's two-year slide, according to the world's biggest currency traders.
Chile announced several measures to prop the competitiveness of Chilean exports that have been particularly affected by the international collapse of the US dollar and which has motivated reiterated claims from the industry.
United States has seen the first decline in employment since August 2003, providing fresh evidence that the US economy could be entering a recession. Employers cut 17,000 jobs from their payrolls in January, Labor Department figures showed. Economists had been expecting a rise of 80,000.
Chile finished 2007 with a record fiscal surplus of just under 14.5 billion US dollars, government officials acknowledged Wednesday. This figure represents 8.7% of Chile's overall GDP, which is also an all-time record.
With forecasts of more snow and ice, chaos in the transport and energy systems that has left millions stranded or without electricity and water, Chinese authorities are desperately trying to convince people the situation is under control.