Argentina asked a US federal appeals court to reverse lower-court rulings that could help creditors including Elliott Management Corp.’s NML Capital Fund collect on 1.4 billion dollars in defaulted bonds.
Latinamerica has 15.100 super rich (8% of the world total) according to the latest World Report on the Ultra Rich 2011/12 from Wealth-X. Super rich is defined as a person with net assets over 24.4 million Euros (30 million dollars).
Uruguay's central bank said on Monday it will raise marginal reserve requirements on local and foreign currency deposits from Aug. 1 as part of its efforts to bring inflation within the official target range.
The Euro weakened to the lowest in more than 11 years against the Yen as investors sought safer assets amid mounting concern that European leaders are failing to control the region’s debt crisis.
Brazil's government may ease its primary surplus target next year to create room to carry out additional tax cuts to boost growth, Folha de S. Paulo newspaper reported Monday.
The jump in Brazilian consumer prices this month was a temporary reversal and won’t jeopardize the government’s 4.5% inflation target this year, central bank President Alexandre Tombini said on Monday.
Banks recapitalised as part of Greece's bailout may be forced to overhaul their management and governance, the European Commission said, in response to questions raised by Reuters agency about alleged malpractice at Greece's fourth-largest bank.
The President of the Community of Madrid, Esperanza Aguirre, has warned about the “difficult” situation Spain is going through, and said “If we don’t want to become another Argentina, with a ‘corralito’ and inflation rates around 20-40%, we must cut the public spending and find the accounts’ balance.”
Spain's economy sank deeper into recession in the second quarter, its central bank said as investors spooked by an undeclared funding crisis in its regions pushed the country ever closer to a full bailout
The President of Investe São Paulo -the gateway for companies that intend to settle their operations in the Brazilian state- referred to the ongoing foreign investment boom in the neighbouring country is due in part to the “lack of both legal and economic security that Argentina and its government have.”