Mexico’s government oil and gas giant Pemex confirmed the discovery of a crude reserve which could hold over 500 million barrels, and described as the largest on land strike in the last decade.
The Argentine central bank has been financing the Treasury with so called ‘transitory advances’ to the tune of 101 billion Pesos (approx 20bn dollars), a sum which is expected to increase given the additional outlays of the end of the year particularly with the Christmas bonus.
The Paraguayan economy is poised to expand 11.3% next year propped by the strong recovery from agriculture according to Pricewaterhouse Coopers, an estimate far more optimist than the 9.5% of the government budget.
Bolivia will announce to its peers at the Mercosur summit in Brasilia, later this week that it is willing to adhere to the trade block as a full member, reported Amanda Dávila, Communications minister.
Argentina energetically rejected the UK complaint about alleged intimidation of vessels linked to Falklands/Malvinas activities as well as the awarding of squid licences in waters close to the South Atlantic archipelago.
Britain summoned Argentina's ambassador to London on Monday after masked men ransacked the offices of a shipping company in Buenos Aires, a move the Foreign Office alleged was aimed at deterring ships from visiting the disputed Falkland Islands.
Uruguay’s budget deficit soared to 3% of GDP in the twelve months to the end of October, the highest since November 2003, (3.1%) when the country was recovering from the financial crisis which spilt over from Argentina. The deficit also exposes Uruguay’s precarious power generating situation.
The IMF ratified last week that by December 17 Argentina must reply to Managing Director Christine Lagarde on the latest advances referred to the country’s statistics both on inflation and GDP growth.
Prices for farmland in Brazil surged by an average 14% a year to nearly quadruple over the past decade, well outpacing inflation and nearly matching gains made by São Paulo's blue-chip Ibovespa stock index, a new study shows.
Former Brazilian president Fernando Henrique Cardoso said it was convenient to consider a trade integration with the Unites States given the very modest advances with Mercosur, where open trade has stalled or is far less than was expected when the original idea and is subjected to protectionist lobbies.