The Basic Foods Basket, CBA, an index from Argentina’s Foundation for Latin American Economic Research (FIEL) increased 0.6% in July compared to the previous month, 21% in the first seven months of the year, and 35.9% over a year ago.
The tensions between the eurozone's north and south, and the complex and politically costly transfers of money required to dampen the euro crisis, have led many people to think the unthinkable: saving Europe's common currency may require that some countries abandon it.
China has overtaken Japan to become the world's second-largest economy behind the United States, the country's chief currency regulator and vice-governor of the People's Bank of China (PBOC) said this week.
Citing the “increased resilience to external shocks” Fitch upgraded Uruguay to BB from BB-, two levels below investment-grade and in line with Standard & Poor's. Moody's Investors Service rates Uruguay at Ba3, three levels below investment grade. Fitch last increased the country's rating in July 2007, taking it up one level from B+.
The Latin American economy could grow by as much as 5% this year, more strongly than previously expected (4%), driven by Brazil's vigorous expansion, according to a senior International Monetary Fund official.
United States President Barack Obama received a sobering message from billionaire Warren Buffett when he asked for the investment guru's views about the economic recovery, according to an interview Obama gave NBC News on Thursday.
Governments must slash budget deficits decisively and central banks should not wait too long to raise borrowing costs as side effects from measures prescribed to tackle the global recession may create the next crisis according to the Bank for International Settlements.
Brazil’s credit rating outlook was boosted to positive from stable by Fitch Ratings, which cited the country’s “growth dynamics” and “prudent” policies. Fitch rates Brazil BBB-, the lowest investment-grade rating and in line with rankings from Standard & Poor’s and Moody’s Investors Service.
Venezuela will nationalize a fleet of oil rigs belonging to US Company Helmerich and Payne, the latest takeover in a push to XXI century Socialism announced President Hugo Chávez as he struggles with lower oil output and a recession.
The European Union (EU) has urged the G20 club of nations to agree when to scrap their economic support packages. The EU said a coordinated exit from stimulus measures would help restore confidence and reduce the risk that some countries would be disadvantaged.