Economy

Wednesday, April 9th 2008 - 21:00 UTC
IMF forecasts one in four chance of global recession

International Monetary Fund (IMF) has said that the world economy will grow much more slowly in the next two years as a result of the credit crunch. In its latest economic forecast, the IMF says that world economic growth will slow to 3.7% in 2008 and 2009, 1.25% lower than growth in 2007.
Tuesday, April 8th 2008 - 21:00 UTC
Brazil supports soy expansion in spite of budding controversy

Brazil has become the world's second exporter of soy beans totaling 25.6 million tons in 2006/07 and one of the country's main sources of international income. But as in Argentina and other countries soy expansion is becoming controversial in spite of the fact the government expects the volume of production to keep expanding.
Tuesday, April 8th 2008 - 21:00 UTC
Chinese banks may now invest in US stocks and funds

Chinese banks may now invest their clients' money in United States stocks and mutual funds, China's banking regulator has said allowing them to diversify their portfolios at a time of increasing market volatility. The decision announced this week is also expected to help ease inflationary pressures in the world's fastest growing economy.
Tuesday, April 8th 2008 - 21:00 UTC
Brazil becomes EU top market in Latinamerica

Brazil has replaced Mexico as the European Union's top market in Latinamerica, according to a Latin Business Chronicle analysis of 2007 trade data from Eurostat. Meanwhile Latinamerica trade with the European Union continues to grow at faster levels than with the United States, the analysis shows.
Tuesday, April 8th 2008 - 21:00 UTC
Brazil admits it must recover EU confidence regarding beef

Agriculture minister Reinhold Stephanes admitted that Brazil must “recover the European Union confidence” regarding beef following the recent temporary suspension of shipments imposed by the 27 country block.
Tuesday, April 8th 2008 - 21:00 UTC
IMF blames credit crunch on “collective failure” & liquidity spiral

The International Monetary Fund has warned that potential losses from the credit crunch will reach 945 billion US dollars and could be even higher as losses are spreading from sub-prime mortgage assets to other sectors, such as commercial property, consumer credit, and company debt.
Monday, April 7th 2008 - 21:00 UTC
Chile cuts taxes to fight highest inflation in decade

Chile's consumer price index rose 0.8% in March, up from 0.4% in February, according to the latest release from the country's National Statistics Institute (INE). The March figure pushed 12-month inflation to 8.5%, up from the February 8.1%.
Monday, April 7th 2008 - 21:00 UTC
Paulson calls for more integration and trade with Latam

United States Treasury Secretary Henry Paulson officially opened on Monday the 49th general assembly of the Inter American Development Bank, IDB, calling for greater integration of trade and openness between Latinamerica and the US and warned about what he defined as “protectionist interests”.
Monday, April 7th 2008 - 21:00 UTC
UN recommends more natural production agriculture

Modern agricultural practices have exhausted land and water resources, squelched diversity and left poor people vulnerable to high food prices, even though they are also highly productive, according to a report announced Monday by the United Nations scientific agency.
Monday, April 7th 2008 - 21:00 UTC
Credit crunch and hunger in WB and IMF spring meetings

The Spring Meetings of the International Monetary Fund and World Bank open this week amid rising concerns about the impact of the credit crunch on the global economy and uneven progress towards such human development goals as wiping out hunger and malnutrition.