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Recession hits Venezuela

As its neighbours recover, the country has posted a contraction in the third quarter of 4.5% year on year after a second quarter decline in economic activity of 2.4%. Inflation is forecast to exceed 26%

Deal nears to end ‘banana wars’

European and Latin American trade officials are close to a deal over bananas that would end the longest-running dispute in the history of the World Trade Organisation and could lead to lower prices for consumers

Poor transport hampers Brazil

Brazil has become the world’s biggest exporter of a basket of foods, but analysts say output is reaching its limit and the investment needed for growth is falling short

Geithner seeks to reassure on dollar

US Treasury secretary tells reporters in Japan he believes in the need to maintain a strong dollar and that the US is determined to get its budget deficit down

Lula calls on leaders to attend climate talks

Brazil’s president has challenged other world leaders to attend next month’s climate talks in Copenhagen to break the deadlock in negotiations to cut greenhouse gas emissions

IMF official warns on risk of LatAm bubble

Latin America had weathered the financial crisis so well that several countries were paying the price of success with rapidly appreciating currencies and an influx of foreign capital that could raise the spectre of future bubbles, said Nicholas Eyzaguirre, western hemisphere director of the International Monetary Fund

Lex: Argentine fantasy

The government has created an economic wonderland that cannot survive if the country is to return successfully to international capital markets

Opinion: The Fund should help Brazil to tackle inflows

Helping Brazil to moderate inflows of foreign capital rather than issuing a negative response would signal that the IMF is taking a less doctrinaire approach, write Arvind Subramanian and John Williamson