G20 leaders have moved towards agreeing that China's currency should have a wider role in global finance. The G20 is to study whether to include the Chinese Yuan within the basket of currencies that make up the IMF Special Drawing Right.
Uruguay’s wholesale prices soared in March for the third month running reaching 4.42%, the highest since 2010, reports the country’s Statistics Institute, INE.
Foreign direct investment in Uruguay reached 1.6 billion US dollars in 2010, up 28% from 2009, according to the fourth quarter Balance of Payments report released this week by the country’s Central bank.
Ireland believes it looks increasingly unlikely that there will be a Mercosur-European Union trade deal before the end of the year. Mercosur and the EU resumed trade talks in May 2010 with the objective of reaching a deal by the end of 2011.
Latin American oil and gas company GeoPark Holdings which operates in Argentina and Chile, will sell a 10% stake in GeoPark Chile Ltd for 70 million US dollars to a unit of Korea's LG Corp. The transaction is expected to close in the second quarter of 2011, GeoPark said.
Argentina's moves to restrict imports and prop up its shrinking trade surplus as well as European farmers resistance to ‘cheap’ meat imports could hurt talks for a trade deal between Mercosur and the European Union, an EU official said on Wednesday.
The number of farmland transactions and the price per hectare were up in Uruguay during 2010 according to a release from Uruguay’s Agriculture and Livestock Ministry Statistics Department, DIEA.
The Latin American Development Bank, IDB, plans to help Latin American countries “de-dollarize” their economies by providing more financing in local currencies, said bank President Luis Alberto Moreno.
Latin America can help solve the global food crisis by expanding farm production, the World Bank said this weekend, and Colombia said it was on board with plans for an 'agricultural revolution'.
The Inter-American Development Bank approved 12.136 billion US dollars in new operations in 2010 and made 10.341 billion in loan disbursements from its ordinary capital, according to its latest annual report issued over the weekend.