Economy

• Friday, May 10th 2013 - 03:20 UTC

  Paraguay beef exports experience 55% recovery in first four months of 2013

  

  Paraguay beef exports soared 54.94% in the first four months of the year compared to the same period in 2012. Shipments totalled 65.000 tons equivalent to 337 million dollars against 44.000 tons and 218 million dollars, according to official stats from the Animal Health and Quality Service (Senacsa).

• Thursday, May 9th 2013 - 05:13 UTC

  Do you trust this Lady to look after your dollar savings?

  

  The administration of President Cristina Fernandez sent on Wednesday to congress the tax amnesty bill to tap undeclared dollar assets, in the country and overseas, generating a cascade of critical reactions from well known economists while the ‘blue dollar’ in the parallel market seemed to ignore the announcements and kept climbing to a new record high.

• Thursday, May 9th 2013 - 05:05 UTC

  Argentine official pledges to look into ‘blue’ dollar market and admits problems in real estate sector

  

  Argentina Deputy Economy minister Axel Kicillof pledged “to look into” the growing parallel market for the US dollar because it is harming many innocent people who have nothing to do with speculation and claimed that ‘certain economists’ and media are encouraging speculation with the greenback.

• Thursday, May 9th 2013 - 04:56 UTC

  Argentina: Dollar kept climbing on Wednesday and reached 10.45 Pesos

  

  Despite the tax amnesty bill and investment options pledged by the government of President Cristina Fernandez, the dollar kept climbing in Argentina. After breaking the key psychological barrier of 10 Pesos to the dollar on Tuesday, the “blue” dollar which trades on the parallel market climbed again on Wednesday another 37 cents to reach 10.45 Argentine Pesos.

• Wednesday, May 8th 2013 - 16:57 UTC

  Brazilian inflation during April just managed to keep to the government’s target

  

  Inflation in Brazil during April climbed 0.55% over March (0.47%) and accumulated 6.49% in the last twelve months which is just below the government’s upper limit target of 4.5% to 6.5%, according to the latest release from the country’s Geography and Statistics National Institute, IBGE.

• Wednesday, May 8th 2013 - 09:56 UTC

  Maduro promises Uruguay permanent supply of oil and full Mercosur commitment

  

  President Nicolas Maduro promised his Uruguayan counterpart Jose Mujica a “permanent” supply of petroleum from oil-rich Venezuela during the first leg of his visit to Mercosur member countries. Maduro also announced the signing of a strategic alliance in the energy sector with Uruguay.

• Wednesday, May 8th 2013 - 09:51 UTC

  Argentina offers tax amnesty for undeclared dollars and assets in the country and overseas

  

  The administration of President Cristina Fernandez announced the drafting of a bill intended to establish a recovery plan for undeclared assets within the country and abroad in order to strengthen the level of foreign reserves of the Central Bank. The government estimates Argentines hold 160bn dollars outside the financial system in the country and overseas.

• Wednesday, May 8th 2013 - 09:40 UTC

  First Latinamerican and BRIC representative next head of WTO

  

  Brazil's Roberto Azevedo has won the race to become the next head of the World Trade Organization, the first candidate from Latinamerica and from the BRIC club of emerging economies to take the job.

• Wednesday, May 8th 2013 - 09:29 UTC

  China fears a US/EU free trade area could become protectionist; looks to Latinamerica

  

  China has raised concerns about European Union plans to negotiate an ambitious free trade deal with the United States, fearing it is a protectionist move and at the same time Beijing new administration is doubling efforts towards Latinamerica and Africa.

• Wednesday, May 8th 2013 - 09:23 UTC

  Argentines keep travelling overseas despite the ‘dollar clamp’ and the ‘Coca Cola formula’

  

  Despite the ‘dollar clamp’ and other obstacles to purchase the US currency in Argentina, the number of Argentines travelling abroad increased by 8% last March in comparison to the same period the year before although they spent 6.2% less than in 2012, it was reported by the National Statistics Bureau (INDEC).