The Organization of American States (OAS) on Tuesday passed a resolution to call an extraordinary assembly to vote on suspending Venezuela from the 34-member group after President Nicolas Maduro’s widely condemned re-election last month.
Venezuela’s state-owned PDVSA is considering a declaration of force majeure on some of its oil supply contracts in June unless its clients agree to accept volume reductions of up to 50%, Argus reported on Tuesday, citing PDVSA officials.
Argentina is looking to expand an existing currency swap arrangement with China, as Buenos Aires looks to stabilize the economy one month after applying for financial aid from the International Monetary Fund. In an interview with the Financial Times, Argentina’s Chief of Cabinet Marcos Peña, said “we have an active swap with China that the previous government left us and we will try to make it bigger.”
Argentina's national team have cancelled an audience with Pope Francis at the Vatican that was scheduled to take place on Wednesday, the Holy See has announced. The Albiceleste are preparing for the World Cup and have been training in Barcelona since May 31.
Brazilian industrial production increased 0.8% in April, marking a return to positive growth after dropping by 0.1% in March, the government announced on Tuesday. According to the report by Brazil's statistics bureau, IBGE, the industrial sector has grown 4.5% so far in 2018.
The World Organization for Animal Health (OIE) has officially declared Brazil as a country free from Foot-and-Mouth Disease (FMD) with vaccination. The decision for this occurred late May, in Paris. The decision took place after approval last year from the OIE’s scientific committee, which is constituted by 181 member states.
Brazil's financial market has downgraded its 2018 economic growth forecast from 2.37% to 2.18%, according to a Focus poll released on Monday by the Central Bank. Four weeks ago, a similar survey of the country's leading financial institutions showed GDP was expected to expand 2.7%.
United States boxer Floyd Mayweather has regained his title in the Forbes rankings of the world's top 100 earning athletes. He earned US$ 275m for his boxing match in August against UFC star Conor McGregor, who is number four on the US business magazine's list.
Brazil's trade balance recorded a US$ 5.981 billion surplus in May, resulting from US$ 19.224 billion in exports and US$ 13.260 billion in imports, said the Ministry of Industry, Foreign Trade and Services (MDIC).
The Organization of American States, OAS, general assembly which concluded on Tuesday in Washington with strong statements condemning Venezuela and calling for peace and understanding in Nicaragua, also included a statement on the Malvinas Islands submitted by Argentina.