Brazil raised on Wednesday its Selic benchmark interest rate to 9% from 8.5% in a further attempt to rein in inflation. The central bank's monetary policy committee, the Copom, voted unanimously for a third straight half percentage point rate rise.
Cecilia Malmstrom, European Commissioner for Home Affairs, will be heading the mission tasked with examining border controls imposed on Gibraltar by Spain while a second mission will address the ‘customs dimension’ issue, the European Commission has confirmed. British authorities will be involved in the EC probe of the Gibraltar frontier as will Spanish officials but no date for the visit has been set though it is expected within a few weeks.
British Prime Minister David Cameron office has highlighted the significance of Chief Minister Fabian Picardo’s visit to No 10 Downing Street as an indication of the relationship and support of UK for Gibraltar.
The sovereignty issue should be left aside and talks should concentrate on the business opportunities offered by the oil industry in the Falkland Islands, said lawmaker Dick Sawle during an interview with AP in Brazil where he is on a week long visit of business and political contacts.
Uruguay and Argentina presidents Jose Mujica and Cristina Fernandez seem to have ironed out differences, at least in public and in the pictures, during the inauguration of a gasoline and diesel de-sulphuring plant in Montevideo, which was financed with Venezuelan funds and Argentine technology.
Colombian President Juan Manuel Santos has confirmed that he would consider meeting FARC rebel leader Timochenko to accelerate talks aimed at ending 50 years of conflict but warned the nation will continue at war if Colombians reject what is agreed at the negotiating table.
Argentina’s central bank international reserves pierced the psychological barrier of 37bn dollars and ended Tuesday at 36.9bn dollars, which is the lowest in over six years and will continue to drain since next month the country must repay in full 2bn of a 2007 sovereign bond.
The opening of a new sovereign debt swap announced by Argentine President Cristina Fernández on national television on Monday has received strong support from allies, pledges of neutrality from the main opposition party but also criticisms.
Argentina bonds in dollars, protected by local legislation fell the most in four months after President Cristina Fernandez announced she’s sending a bill to Congress to reopen the debt swap so that holders of the 7% of pending non restructured debt can normalize their situation in similar conditions.
Cuba has reported a new cholera outbreak with 163 cases, 12 of whom are tourists, though no deaths were mentioned, according to a bulletin from the Pan American Health Organization, PAHO. The update from 23 August is based on information provided by epidemiological authorities on the island.