The Techint Group agreed to pay 5.03 billion Reais (2.7 billion dollars) for a 27.7% voting stake in Brazil’s Usinas Siderurgicas de Minas Gerais to boost access to the largest market for steel in Latin America.
Brazilian president Dilma Rousseff said that the country’s economy which slowed down in the last quarter will retake growth and generate more jobs based on government plans to expand manufacturing.
The Argentine government has stepped up its official blockade policy against the Falkland Islands warning Spanish fishing vessels are operating ‘illegally’ in the South Atlantic, since they have not requested licences from the Argentine government, and controls over those activities will continue.
IMF chief Christine Lagarde who this week will be visiting Latinamerica said that Brazil, Mexico and Peru, like to many other countries in the region have done remarkably well over the past few years and can provide some lessons to the advanced countries.
IMF chief specifically excluded Argentina from its coming Latinamerican tour because the government of President Cristina Fernandez still has to comply with what was agreed last July, basically normalizing the controversial INDEC stats office and open its books to auditing as happens with all other members of the G20.
Brazil's government managed oil and gas company Petrobras said on Friday its average October domestic crude output remained stable versus September at 2.00 million barrels per day.
Unasur (Union of South American Nations) Economy and Finance ministers plus Central bank governors agreed to promote inter-regional trade as a way to cope with the incoming international crisis and anticipated that the South (development) Bank would formally be in operations in three weeks time.
Combating the drugs and arms trade and traffic of people as well as a greater coordination of regional intelligence services are among the pillars in security affairs that Argentina, as chair of Mercosur in the first half of 2012 will be applying.
A report from the UN Food and Agriculture Organization, FAO, in seventeen Latinamerican and Caribbean countries discovered an intense concentration and foreign-held land process.
The Bolivian government strongly rejected a statement from a FAO (UN Food and Agriculture Organization) official saying that 26% of the population (2.5 million people) is on the hunger fringe since they can not satisfy their basic food needs.