Analysts expect Brazil's economy to contract by 3.19% this year, with inflation hitting 10.38%, the Central Bank said Monday. GDP and inflation estimates come from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy.
Murilo Ferreira has resigned as chairman of Brazilian state oil company Petrobras, the firm said Monday. Ferreira, the CEO of mining giant Vale, took a leave of absence in September and Luiz Nelson Guedes de Carvalho, who has served as interim chairman since then, will continue in that role for the moment, the company said in a brief statement.
Argentine President-elect Mauricio Macri said in a television interview that he would place his assets in a blind trust after being sworn in on Dec. 10. Macri also reiterated his commitment to combat corruption and said he would turn any official suspected of corruption over to judicial authorities.
Argentina said farewell to its remaining fleet of French built Mirage fighter bombers which have been operational since 1972 and played a crucial role during the South Atlantic conflict when they clashed with the British Task Force sent to recover the invaded and occupied Falkland Islands in 1982.