Banco do Brasil, Latin America’s biggest bank by assets, is considering buying lenders in Colombia, Peru and Chile to attract corporate clients and increase business with Brazilian companies in the region. Last month the bank announced the reopening of its branch in Montevideo, Uruguay.
The Federal Reserve does not need to consider additional monetary policy stimulus as the world's largest economy is likely to pick up in coming quarters due to growth in exports and disposable incomes, IMF acting chief John Lipsky said.
The International Monetary Fund backed the British government's plans to reduce the budget deficit, but said tax cuts or more quantitative easing may be needed if growth proves persistently weak.
Capital flows to emerging markets won’t significantly slow when the US Federal Reserve ends its bond-purchasing program known as quantitative easing, said Olivier Blanchard, chief economist at the IMF.
Top emerging economies joined forces to slam Europe's obsolete grip on the IMF top job, even as France's finance minister appeared to strengthen her lead in the race to replace Dominique Strauss-Kahn.
Mexico central bank Governor Agustin Carstens will be presented as a candidate for managing director of the IMF, the Finance Ministry said in an e-mailed statement Sunday.
European leaders raced Saturday to nominate a successor for fallen IMF chief Dominique Strauss-Kahn before a G8 summit in France next week, with French Economy Minister Christine Lagarde in pole position.
The International Monetary Fund said on Friday that it is scheduled to complete the process of selecting a new managing director by June 30.
The global economic recovery is accelerating but remains vulnerable to setbacks said IMF acting Managing Director John Lipsky said as he urged continued international support for shaky economies in Europe.
Dominique Strauss-Kahn on Thursday was granted bail by a judge in a New York court, after being formally charged with trying to rape a hotel maid. Strauss-Kahn had earlier resigned as the International Monetary Fund's boss.