Tag: economy

• Saturday, April 24th 2010 - 07:05 UTC

  US Credit Agencies Influenced by Banks that Paid Their Fees, Says US Senate

  

  The behaviour of two credit rating agencies in the run-up to the financial crisis has been criticised by US senators following an investigation.

• Saturday, April 24th 2010 - 01:12 UTC

  Peru and Chile Will Lead Latam Expansion in 2011 with 6% Growth Each

  

  Latest forecasts from the International Monetary Fund (IMF) predict Chile and Peru will lead Latin America’s growth in 2011 with an expansion of 6% each. The IMF released its World Economic Outlook Report on Wednesday, upping Chile’s projected growth from 4 to 4.7%.

• Saturday, April 24th 2010 - 00:53 UTC

  First Tremors of Euro Seism: Greece Asks for Financial Rescue Package

  

  Greece has formally asked for the activation of an EU-IMF financial rescue package to help pull the debt-ridden economy out of its crisis. It had hoped that just the promise of EU support, agreed last month, would have been enough to reassure markets and help its recovery.

• Friday, April 23rd 2010 - 07:00 UTC

  Obama attacks critics of banking reforms to end “reckless practices”

  

  US President Barack Obama has attacked critics of his banking reforms in a speech which warned that without change the financial crisis will be repeated. Reckless practices and financial firms that acted like “bandits” should never be allowed to operate again, he said.

• Friday, April 23rd 2010 - 03:21 UTC

  Brazil forecasted to grow 5.5% in 2010 boosted by domestic demand, says IMF

  

  Brazil, Latinamerica’s largest economy and leading Mercosur partner is poised to grow 5.5% this year, almost a whole percentage point more than the previous forecast in January, according to the International Monetary Fund “World Economic Outlook” released in anticipation of the IMF and World Bank annual assembly this weekend in Washington.

• Friday, April 23rd 2010 - 02:45 UTC

  UK record borrowing in 2009/10 to cover biggest budget deficit since WW2

  

  UK Primer Minister Gordon Brown’s government borrowed a record £163.4 billion in the 2009/2010 financial year, according to figures published Thursday. While it is the biggest budget deficit since the Second World War, the figure is lower than Chancellor Alistair Darling’s prediction in the budget of £166.5 billion for the year.

• Thursday, April 22nd 2010 - 02:57 UTC

  Latam and Caribbean recovering at a “robust pace” says IMF

  

  Latin America and the Caribbean have “weathered the global downturn comparatively well” and are now recovering at a “robust pace,” the International Monetary Fund (IMF) said Wednesday.

• Wednesday, April 21st 2010 - 17:08 UTC

  UK unemployed reach 2.5 million in February, highest since 1994

  

  The number of people unemployed in the UK rose by 43,000 to 2.5 million during the three months to February, official figures have shown. The jobless total is now at its highest since 1994.

• Wednesday, April 21st 2010 - 16:13 UTC

  IMF warns about asset bubbles in developing powers in Latam and Asia

  

  The International Monetary Fund (IMF) has urged developing powers in Asia and Latin America to guard against the kinds of asset bubbles that caused wealthier economies to plunge into recession in the last two years.