Argentina's Consumer price index, CPI, during May climbed 2% reaching 28,7% in the last twelve months, according to the Congressional monthly report from opposition lawmakers, which is an average of private consultants. The data was released on Thursday with strong words against President Cristina Fernández statements in Rome that poverty in Argentina was 5%, virtually less than Denmark and Germany.
The World Bank is optimistic about the outlook for the Argentine economy, predicting the country’s GDP will grow 1.1% this year, a considerable upgrade from the decline of 0.3% it expected in January, and perhaps even stronger growth of 1.8% in 2016 and of 3% points in 2017, thanks to a “stronger” macroeconomic environment and “regained” access to international capital markets.
Brazilian President Dilma Rousseff stated on Thursday in Brussels she was not upset by differences with Argentina over the trade agreement Mercosur is to sign with the European Union, despite president Cristina Fernandez administration's cold feet on the issue.
Irish authorities have identified a suspected case of Bovine spongiform encephalopathy (BSE), or mad cow disease, on a dairy farm in County Louth, the first such case to be discovered in the country since 2013. The Irish Department of Agriculture said on Thursday the five-year-old diseased cow was discovered as part of ongoing inspections of animals that die on farms.
Argentine Foreign minister Hector Timerman affirmed that a trade deal would not be signed between Mercosur and the European Union (EU) in the second summit of the Community of Latin American States (CELAC) and the European body, which is taking place in the Belgian city of Brussels.
Mercosur is ready to deliver its proposal on goods, services and tariff reductions as part of the negotiations with the European Union for a trade and cooperation agreement, said Brazilian president Dilma Rousseff on Wednesday, following a meeting in Brussels with Charles Michel, Belgium's Prime minister.
Bolivian president Evo Morales said that if Mercosur insists in forging a trade agreement with the European Union, Bolivia will have to 'withdraw, because we support solidarity and not competitive trade”. Morales is in Brussels attending the EU/Celac heads of government and state summit which takes off on Thursday.
Bank of England governor Mark Carney has called for longer prison sentences for bankers who break the law, in a speech attacking on ethics in the City. In his Mansion House speech Mr Carney said individuals acted with a culture of impunity. But, he warned: The age of irresponsibility is over.
Uruguayan president Tabare Vazquez said that Uruguay, Brazil and Paraguay are ready to sign the long delayed trade and cooperation agreement between Mercosur and the European Union. Such an agreement has become one of the cornerstones of Vazquez presidency faced with falling exports and limited markets.
Brazil announced a $64 billion infrastructure spending package on Tuesday, hoping to revive its flagging economy with investment in highways, railroads, ports and airports. Businesses and analysts have long pointed to overburdened infrastructure as a drag on the world's seventh-largest economy, which pays high prices to ship the raw materials it exports.