Earthquake Rocks Central Mexico


In Mexico City, people ran into the streets seeking safety when they felt the quake.
MEXICO CITY 2:31 PM CST— A strong 7.6-magnitude earthquake hit Mexico on Tuesday, shaking central and southern parts of the country and swaying buildings in Mexico City. Plaster fell from ceilings and windows broke in the center of the capital, but the president said there were no immediate reports of major damage.
The initial quake in Guerrero state was followed by a less powerful, magnitude-5.1 aftershock that also was felt in the capital.
Frightened workers and residents poured into the streets of the capital just minutes after noon local time (18:02 GMT). Telephone service was down in the city and throughout the area where the quake was felt.
"I have problems with pressure, I felt I was going to faint," said Rosa Maria Lopez Velazquez, 62, outside a mall in Mexico City.
The quake was felt strongly in southern Guerrero state, where the epicenter was located about 15 miles (25 kilometers) from the city of Ometepec. Neighboring Oaxaca state also shook heavily, including two aftershocks.
"It was very strong, but we didn't see anything fall," said Irma Ortiz, who runs a guesthouse in Oaxaca. She said their telephones are down, and that the quake shook them side-to-side.
The U.S. Geological Survey set the intensity of the first quake at 7.6 and said the epicenter was 11 miles underground. The survey set the aftershock at 5.1.
Mexico City Mayor Marcelo Ebrard's Twitter account said the water system and other "strategic services" were not experiencing problems. 

Brazil's Sluggish Economic Growth

Latin America's largest economy grew a mere 2.7% in 2011, far below the 4.5% GDP growth rate predicted by analysts.  Last summer, when President Rousseff declared an official goal of 4% GDP growth in 2012, it seemed attainable.  However, after a sluggish year in 2011, it is evident that the Brazilian government will have to work to creatively stimulate the economy to achieve the growth goals. The country's interest rates have served as a major obstacle to growth, and the Central Bank predicted that it would cut interest rates to 10.5% to stimulate the economy.  However, after meeting yesterday and being presented with lower-than-expected data, the Central Bank president Alexandre Tombini decided to make even more drastic cuts, lowering the interest rate to 9.75%. In the past, Brazil has avoided lowering the interest rate because of inflation concerns, but the country leaders hope that the lower interest rate will stimulate growth and foreign investment.



Read it here at CNN.