
Brazil, Argentina and Chile presidents figure among the list of the 25 most powerful women in the world according to the latest release from Forbes. Dilma Rousseff ranks in fourth place, Cristina Fernandez 19 and Michele Bachelet, 25. Only nine heads of state figure in the 100 names list.

As the United States Federal Reserve debates the timing of its first interest rate hike since 2006, International Monetary Fund (IMF) Managing Director Christine Lagarde is urging central banks to cooperate on policy moves.

The International Monetary Fund board has already received a first analytical report on Argentina latest statistics and will address the issue in its next meeting scheduled for 6 June, according to IMF spokesperson Gerry Rice in Washington.

IMF Director for the Western Hemisphere Department Alejandro Werner has once again called on Latin America to embark upon economic reforms, claiming that the “least difficult” phase of economic growth is now over.

Income inequality can lead to slower or less sustainable economic growth, while redistribution of income, when measured, does not hurt and can even help an economy, IMF staff found in a research study released on Wednesday. Although the study by IMF economists does not reflect the Fund's official position, it is another sign of a shift in its thinking about income disparity.

Monetary policy tightening in advanced economies will cause volatility in international markets this year and impact the monetary situation of some emerging economies, IMF Managing Director Christine Lagarde cautioned on Wednesday.

The Organization for Economic Cooperation and Development, OECD, cut its forecast for global economic growth through next year and warned that fiscal and monetary policy decisions looming in the U.S. could derail the recovery. OECD said world economic output would expand 2.7% this year and 3.6% in 2014, down from May's forecast of 3.1% and 4%.

Chilean Foreign Affairs Minister Alfredo Moreno has said that the UK has been granted Observer Status of the Pacific Alliance. The announcement was made by Moreno during his recent visit to Europe. The Pacific Alliance is made up of Chile, Peru, Colombia and Mexico and is consolidating as the fastest growing group in the region.

Argentina has made positive progress in reforming the quality of its economic data, the head of the International Monetary Fund said on Sunday, adding that the IMF's board is set to review the country's moves in a few days.

International Monetary Fund announced it was holding constructive talks with Argentina about addressing flawed economic data that led to an unprecedented IMF censure of a member country.