The World Bank has offered a 3 billion dollars line of credit to Peru, backing President Ollanta Humala's plans for anti-poverty initiatives and sustained economic growth, a regional vice president said this week.
Members of the Paris Club group of creditors want Argentina to repay an estimated 9 billion dollars in defaulted debt within three years and to make a big initial payment, Buenos Aires newspaper La Nacion reported over the weekend.
The World Bank has called on Germany to take a stronger political leadership role in Europe in order to end the Euro zone debt crisis.
Washington's decision to vote against loans for Argentina from multilateral development banks “will not affect the country's funding for 2012”, an Argentine government source said on Wednesday.
Why should the UK support Argentina financially when the country is acting against British interests particularly in issues such as the Falkland Islands, asks an article in the Mail-online.
The US State Department said on Wednesday that Argentina must normalize relations with creditors. The statement follows an announcement last week from the Treasury Department warning that the US will vote against granting loans to Argentina in multilateral organizations.
Argentina should pay its debt with the Paris Club group of creditor nations if it wants to continue receiving foreign investment, said Paolo Martelli, director for Latin America of the World Bank’s International Finance Corp, reports Buenos Aires daily La Nación.
Asian stocks have fallen on Friday, with some indexes driving towards their worst weekly losses since 2008. The Group of 20 nations said they were ready to preserve stability in the financial markets.
Robust growth over the past decade in Latin America and the Caribbean (LAC) has had one new, key driver: China. The region’s relationship with the Asian giant has proved to be a critical source of stability, both during the global economic crisis of two years ago, the greatest since the Great Depression, and even the current market turmoil that is rolling across Europe and the United States.
The head of the World Bank on Monday said a drop in investor confidence was already feeding through to developing nations from a growing debt crisis in advanced economies and urged cooperative action.