Fitch Ratings in March joined two other major ratings agencies in giving Uruguay its coveted investment grade, a move that lowers the nation’s borrowing costs and opens up opportunities for new investors.
Tax havens such as Bermuda and the Cayman Islands will work more closely with Britain and other European countries to fight tax evasion, British finance minister George Osborne said.
Argentina’s ongoing attempts to strangle the Falkland Islands economy by intimidating cruise vessels from calling at Stanley and other islands has been picked up by the Daily Mail in an article written by Ian Drury.
Brazil posted a budget primary surplus of 3.5 billion Reais (1.75bn dollars) in March, recovering after a deficit in February, but still the worst performance in the first quarter of the last four years, according to central bank data released this week.
Argentine nationalized energy company YPF warned on Tuesday that inflation in the country may keep rising and affect its results, a rare admission considering the company is controlled by a government known for playing down the problem.
Almost four million barrels of diesel and gasoline were shipped from Europe and the US to Argentina where a recent major fire in the country’s main refinery significantly diminished the supply of refined produce. The situation could extend for another two years, according to private estimates from the oil industry.
Argentina's natural gas imports rose 74% to 28.4 million cubic meters/d in March, compared with 16.3 million cu m/d in the year-earlier period, the country’s Energy Secretariat said Monday. Imports were up 16% compared with 24.5 million cu m/d in February, according to a monthly data report.
A serious deterioration is taking place under the surface of the Uruguayan economy and when the current inflow of foreign capital reverts, the country is going to suffer unpleasant shocks with a strong rise in the price of the US dollar and an increase in inflation, according to a report from the US based BCP Securities.
Five Argentine and Chilean Patagonia ports have teamed up to promote their tourism attractions and potential for the cruise industry by launching a hardcover limited edition book (1.000), in English and Spanish, with digital support under the heading of “Patagonia, cruises destination”.
The ‘parallel’ or ‘blue’ dollar in Argentina which last week soared day after day to reach on Friday a record 9.30 Pesos, on Monday edged down four cents to 9.26 Pesos while the official ‘dollar’ remained stable at 5.13 and 5.19 Pesos (buying and selling).