Economy

Monday, October 8th 2007 - 21:00 UTC
Region gives final touches to launching of Bank of the South

Economy and Finance ministers from all South American countries, except for Peru and Colombia, are meeting Monday in Brazil to discuss final details of a regional development financial institution sponsored by Venezuela's President Hugo Chavez.
Monday, October 8th 2007 - 21:00 UTC
IMF Rato warns Latam about impacts of US sub prime crisis

The credit squeeze will force governments worldwide to make substantial changes to their budget plans, Rodrigo Rato, outgoing managing director of the International Monetary Fund, has warned. He said that the credit squeeze was a “serious crisis” that was not over yet and would curtail growth worldwide.
Monday, October 8th 2007 - 21:00 UTC
Argentine dairy farms tempted to turn to wheat and soy

Farmers from Argentina's dairy belt, one of the most productive in the world are considering converting into cereals and oil seeds given the low reference prices imposed by the Argentine government.
Saturday, October 6th 2007 - 21:00 UTC
Record budget surplus in Chile this year: 8.1% of GDP

Because of high copper prices, Chilean treasury officials now believe that they will end the year with a historic budget surplus of 8.1% of the Gross Domestic Product (GDP).
Friday, October 5th 2007 - 21:00 UTC
Soaring wheat prices cause food crises in poor countries

Up to 36 countries worldwide are facing food crises at a time when the price of wheat has hit record levels and stocks are described as worryingly low by the latest crop and food situation report published by the UN Friday.
Friday, October 5th 2007 - 21:00 UTC
Federal Reserve cools hopes of second rate cut this month

The United States Federal Reserve Board Vice Chairman Donald Kohn said on Friday policy makers must be “nimble” in setting interest rates given the risks of both slower U.S. economic growth and faster inflation.
Thursday, October 4th 2007 - 21:00 UTC
US dollar continues to drop against Chilean peso

The US Dollar dropped to its lowest value in relation to the Chilean Peso in over seven years on Monday, before slightly rebounding on Tuesday. Meanwhile, President Michelle Bachelet responded to this news by saying that the currency's continuing decline is a source of concern in Chile.
Thursday, October 4th 2007 - 21:00 UTC
Uruguay September inflation 0.41%; 8.9% in 12 months

Consumer prices in Uruguay increased 0.41% in September, accumulating 8.67% in the nine months of 2007 and 8.9% in the last twelve months, according to the official Statistics Office, INE.
Thursday, October 4th 2007 - 21:00 UTC
US Secretary of Commerce visit to Brazil and Uruguay

United States Secretary of Commerce Carlos M. Gutierrez announced Wednesday he will travel to Uruguay Oct. 8-9 and Brazil Oct. 9-11 to discuss with senior government officials and the business community ways to promote greater bilateral trade, economic growth and opportunity and to foster greater commercial cooperation between the United States and both Uruguay and Brazil.
Thursday, October 4th 2007 - 21:00 UTC
Inflation and strong currency threaten Peruvian economy

As several other commodity-exports dependent countries in South America, Peru's economy is booming growing at an estimated 8%, following last year's 7.6%. However this success and the massive influx of US dollars is distorting monetary policy and delaying an improved wealth distribution.