Sunday, April 26, 2009

Great news from around the world

Argentina says economic growth slowed to an annual pace of 2.6 percent in February as the world economic crisis slashes demand for its exports.

South Korea's Samsung Electronics has reported a 72% drop in quarterly profits after more losses at its microchip and LCD television divisions.

News about corporate loans and bonds takers now also facing it harder and harder to repay, has got some economist in the US very worried. If the default levels they predict come into effect, it will be unprecedented maybe with the exception for the Great Depression. If this is the case the financial sector will soon collapse as well.

Hoping to raise money quickly for a new $500 billion emergency loan program, the International Monetary Fund is in the advanced stages of a plan to sell bonds for the first time in its history, officials for the group said Saturday.

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