Economy

Wednesday, April 18th 2012 - 08:30 UTC
Debts and environmental cleanup to subtracted from YPF compensation says Argentina

Argentina accused Spain's Repsol oil company on Tuesday of hiding the true value of its Argentine YPF unit and said a thorough review of its books after seizing control of its offices will affect the compensation paid to its shareholders.
Wednesday, April 18th 2012 - 08:26 UTC
Fitch places Repsol on Rating Watch Negative following the YPF takeover operation

Fitch Ratings has placed Repsol YPF, SA's ratings on Rating Watch Negative (RWN) following news that YPF takeover has been set in motion by the Argentine government.
Wednesday, April 18th 2012 - 08:23 UTC
Brazilian economy set to grow 3%, but with risks of overheating, says IMF

The Brazilian economy is set to grow 3% in 2012 after the modest 2.7% of last year, but following the relaxation of monetary policy it runs the risk of ‘overheating’, according to the IMF World Economic Outlook, WEO.
Tuesday, April 17th 2012 - 20:04 UTC
IMF estimates less growth (3.5%) and higher prices (7.4%) for Uruguay in 2012

Uruguay growth estimate has been downed for 2012 while prices will be higher, according to the latest IMF World Economic Outlook released on Tuesday. The economy is set to grow 3.5% down from 4.2% while prices will climb to 7.4% compared to the 6.5% estimate of the previous WEO last September.
Tuesday, April 17th 2012 - 07:07 UTC
Mexico appeals to CFK: nobody in its right mind invests in countries that expropriates

Mexican president Felipe Calderón and G-20 group head, said that Argentina’s plan to seize a majority stake in Repsol’s Argentine branch YPF is “very regrettable” and called on President Cristina Fernandez to reconsider and rectify the decision.
Tuesday, April 17th 2012 - 03:43 UTC
US/Brazil discuss energy cooperation and closer economic ties even free trade agreement

Cooperation in energy development, closer economic ties including a free trade agreement and praise for Brazil’s economic and political leadership were some of the issues discussed by visiting US Secretary of State Hillary Clinton during her first day of meetings with Brazilian officials.
Tuesday, April 17th 2012 - 03:38 UTC
US on YPF takeover: ”Having an open competitive market is a preferable model”

US Secretary of State Hillary Clinton said Argentina will have to justify and assume the responsibilities of its decision regarding the YPF dispute between Argentina and Spain, but at the same time defended models that include competition and market access.
Tuesday, April 17th 2012 - 03:07 UTC
Colombia reaps from the summit: free trade agreement with US becomes effective in May

The US-Colombia free trade agreement will enter into force next month, far earlier than expected, as a result of what the Obama administration called “historic” progress for Colombian worker protections and human rights.
Tuesday, April 17th 2012 - 00:28 UTC
US candidate Dr. Kim chosen World Bank president; takes office next July

US nominee Jim Yong Kim has been chosen as the new president of the World Bank. The Korean-American health expert, president of Dartmouth College faced a strong challenge for the post, which has traditionally gone to an American, from Nigerian Finance Minister Ngozi Okonjo-Iweala.
Monday, April 16th 2012 - 21:48 UTC
Argentina sends bill to takeover control of YPF from Spain’s Repsol

Argentine President Cristina Fernández de Kirchner sent to Congress a draft bill to expropriate Spain’s Repsol’s holdings of YPF oil and gas company. The announcement was made on Monday at the Government House during a sudden meeting with officials, political leaders, unionists and businessmen.