Economy

• Monday, June 25th 2007 - 21:00 UTC

  International banks forecast slower growth in Argentina

  

  Economic activity in Argentina is forecasted to moderate in the second half of this year and in 2008 as investment decelerates in spite of strong domestic demand and overseas favorable conditions, according to the International Institute of Finance, (IIF) the lobby representing the world?s largest banks.

• Monday, June 25th 2007 - 21:00 UTC

  Dramatic drop in Magallanes Region poverty levels

  

  Although Magallanes Region in the extreme south of Chile has witnessed a significant drop in poverty and indigence rates, there are still some worrisome pockets, according to the latest Socioeconomic Characterization Poll, CASEN, released last week.

• Sunday, June 24th 2007 - 21:00 UTC

  Evolution of minimum wages in Latam: Argentina leads

  

  Chile saw a 16% real increase in its minimum wage over the past 7 years, putting it in 5th place among Latin American countries. Argentina came in first, doubling its minimum wage since 2000, followed by Uruguay, which increased by 50%. Brazil and Ecuador took 4th and 5th place.

• Friday, June 22nd 2007 - 21:00 UTC

  Desperate last minute talks to save Doha round trade talks

  

  Negotiations among four key World Trade Organisation (WTO) governments over a new global agreement collapsed Thursday with India and Brazil blaming US and European unwillingness to cut farm aid and import duties on commodities.

• Thursday, June 21st 2007 - 21:00 UTC

  China fears strong Yuan could lead to unemployment

  China should let the Yuan appreciate at a faster rate to reduce the country's dependency on exports and thus prevent a possible assets bubble because of the easy access to credit, said an outstanding economist former advisor to the country's Central Bank.

• Wednesday, June 20th 2007 - 21:00 UTC

  Brazil with record budget primary surplus in April/May

  

  Brazil's budget primary surplus reached in April 23.5 billion Reales (approx 12 billion US dollars) following on an equally positive March, 19.4 billion Reales (approx 10.2 billion US dollars) reported the Central Bank.

• Tuesday, June 19th 2007 - 21:00 UTC

  IMF warns about fiscal deficits and price controls systems

  The International Monetary Fund Managing Director Rodrigo Rato warned about the risks for Latinamerica of “populist” economic measures which worsen fiscal deficits, or price controls and manipulation of exchange rates.

• Monday, June 18th 2007 - 21:00 UTC

  Andes tunnel cleared of snow and stranded trucks begin moving

  The key mountain highway connecting Argentina with Chile was partially opened for vehicles, as weather conditions improved following days of heavy snow and wind that left thousands of tucks idle on both sides of the border.

• Monday, June 18th 2007 - 21:00 UTC

  Canada/Chile trade quintuples in the last five years

  Trade between Chile and Canada has quintupled in the past five years, with a whopping 1.45 billion US dollars in goods now exchanged, reports Chile's International Economic Relations Directorate (DIRECON),

• Sunday, June 17th 2007 - 21:00 UTC

  Brazilian real interest rates are the world's highest

  At the beginning of June Brazil lowered its key interest rate, Selic, to 12% a year, the lowest ever and the 16th consecutive reduction since September 2005. But still when inflation is taken into account, Brazil's benchmark real interest rate is 8.3%, the highest in the world followed by Turkey with 7.6%.