United States

• Friday, August 5th 2011 - 07:47 UTC

  Obama administration confident Geithner will remain in his job

  

  President Barack Obama’s senior advisers are confident Treasury Secretary Timothy Geithner will remain in his job even though he hasn’t made his intentions public, an administration official said.

• Thursday, August 4th 2011 - 19:37 UTC

  US Senate breakthrough for trade agreements with Korea, Colombia and Panama

  

  The United States Senate leaders ended an impasse over stalled free-trade agreements, agreeing to vote after the August recess on benefits for workers who lose their jobs because of overseas competition, which opens the way for the approval of pending agreements with Korea, Colombia and Panama.

• Thursday, August 4th 2011 - 19:21 UTC

  US gross national debt equivalent to 100% of GDP, first time since 1947

  

  The United States gross debt shot up 238 billion dollars to reach 100% of GDP after the government's debt ceiling was lifted, Treasury figures showed. On Tuesday, the Treasury had to add more than 200 billion of commitments immediately after President Barack Obama signed into law an increase in the debt ceiling.

• Thursday, August 4th 2011 - 19:14 UTC

  Compromise achieved, fiscal reform is the next chapter, says Geithner

  

  Following the political agreement which enabled the US Congress to lift the debt ceiling and avoid default, Treasury Secretary Timothy Geithner wrote a piece for The Washington Post, where he displays what in his opinion are the following steps for the world’s largest economy to restore fiscal responsibility and sustainability.

• Wednesday, August 3rd 2011 - 22:06 UTC

  IDB approves a financial support plan of 1.8 billion dollars for Uruguay

  

  The Inter American Development Bank, IDB, approved this week a new country ambitious strategy with Uruguay with a financial plan for the period 2010–2015 of up to 1.8 billion dollars of for sovereign-guaranteed loans.

• Wednesday, August 3rd 2011 - 06:53 UTC

  China Dagong agency downgrades US credit rating from A+ to A with negative outlook

  

  Chinese rating agency Dagong Global Credit Rating Co. said Wednesday it has cut the credit rating of the United States from A+ to A with a negative outlook after the U.S. federal government announced that the country's debt limit would be increased.

• Wednesday, August 3rd 2011 - 00:10 UTC

  China says there’s no way of escaping dollar dominance… in the short term

  

  United States' debt woes still threaten the global economy despite the last-minute deal struck by the White House and political party leaders, China's main official newspaper said on Tuesday, adding there was no short-term escape from the dominance of the dollar.

• Tuesday, August 2nd 2011 - 21:44 UTC

  US consumers cut spending in June for the first time in two years

  

  US consumer spending unexpectedly fell in June to post the first decline in nearly two years as incomes barely increased, a government report showed, suggesting economic growth could remain subdued in the third quarter.

• Tuesday, August 2nd 2011 - 21:37 UTC

  Wall Street fears possible downgrade of US rating in spite of vote on debt ceiling

  

  Wall Street dropped on worries about a possible downgrade of the United States' top credit rating and signs of economic weakness even as the US Congress passed on Tuesday a bill to avoid a debt default.

• Tuesday, August 2nd 2011 - 15:46 UTC

  Geithner admits battle over debt limit has damaged confidence in the US economy

  

  US Treasury Secretary Timothy Geithner said he is not sure whether the bitterly fought debt agreement to be considered by the US Senate will avoid a downgrade of the U.S. top-tier credit rating.