Economy

Economy
Monday, January 25th 2016 - 10:10 UTC

Proxy inflation in Argentina reached 6.5% in December and 31.6% in 2015

The monthly figure was double that reported by the Buenos Aires City, the other index suggested by INDEC. The City reported 3.9% Dec. inflation and 29.6%

Consumer prices rose 6.5% in December in the Argentine province of San Luis, one of the indexes the new leaders of the country's INDEC statistics bureau had said could be used as a proxy for national inflation figures — amounting to a cumulative 31.6% increase in 2015.

Monday, January 25th 2016 - 10:01 UTC

IMF estimates 2016 Venezuela inflation at 720% and 8% economy contraction

“A lack of hard currency has led to scarcity of intermediate goods and to widespread shortages of essential goods exacting a tragic toll,” Werner said.

Venezuela’s consumer inflation, already the world’s highest, will more than double this year surging to 720% in 2016 from 275% last year, according to a note published by the IMF’s Western Hemisphere Director, Alejandro Werner.

Monday, January 25th 2016 - 09:56 UTC

Tourists' arrivals grew 4.4% last year and forecasted to increase 4% this year

“The robust performance of the sector is contributing to economic growth and job creation in many parts of the world”, said WTO Secretary-General, Taleb Rifai.

International tourist arrivals grew by 4.4% in 2015 to reach a total of 1,184 million in 2015, according to the latest UNWTO World Tourism Barometer. Some 50 million more tourists (overnight visitors) travelled to international destinations around the world last year as compared to 2014. 2015 marks the 6th consecutive year of above-average growth, with international arrivals increasing by 4% or more every year since the post-crisis year of 2010.

Saturday, January 23rd 2016 - 09:01 UTC

Rousseff eyeing foreign reserves to boost economy and cash strapped government

In an interview with the online news service UOL, Rousseff said she was neither for nor against using Brazil's international reserves, which total about $370 billion.

President Dilma Rousseff said on Friday that her cash-strapped government could consider tapping into Brazil's sizeable foreign reserves at a given moment, an idea that troubles investors already worried about the country's economic decline.

Saturday, January 23rd 2016 - 04:35 UTC

IMF chief Lagarde will stand for a second term

Lagarde's term in office expires on 5 July and the process to find a successor opened on Wednesday.

The head of the International Monetary Fund, Christine Lagarde, has confirmed she will stand for a second term. Ms Lagarde threw her hat into the ring during an appearance on French television.

Friday, January 22nd 2016 - 05:12 UTC

Banks don't discard credit-short Venezuela will undergo a 'credit event' in 2016

President Nicolás Maduro assured the National Assembly last week that Venezuela would continue to pay what it owes

Slumping crude prices have investors and analysts warning of a potential messy default in Venezuela, with state-owned oil company PDVSA owing some US$10 billion in external debt payments due this year. With crude hovering around US$28 per barrel, Venezuela could have trouble satisfying its obligations.

Friday, January 22nd 2016 - 04:45 UTC

Macri/Cameron coincide on new relationship; Falklands left for further on

President Macri and PM Cameron next to their delegations, talked for over half hour this Thursday midday in Davos

Argentine President Mauricio Macri met on Thursday with British Prime Minister David Cameron in Davos as both leaders attend the World Economic Forum in Switzerland. The atmosphere of the meeting was described as 'very positive' and several steps of a new relationship were announced, while the Falklands/Malvinas issue was left for further on.

Friday, January 22nd 2016 - 04:33 UTC

UK position on Falklands remains as expressed by 2013 referendum, Cameron tells Macri

The UK government said three areas were covered in the talks between PM Cameron and Argentine president Macri

The United Kingdom government has released a statement pointing out the “three areas” British Prime Minister David Cameron and President Mauricio Macri “covered” during their Davos meeting on Thursday.

Friday, January 22nd 2016 - 04:15 UTC

US announced support for Argentina at multilateral development banks

Treasury Secretary Lew informed Argentine Finance Minister Prat-Gay of the US change of position during their meeting in Davos

The United States is ending its policy of opposing most lending to Argentina from multilateral development banks, the US Treasury Department announced. US Treasury Secretary Jack Lew informed Argentine Finance Minister Alfonso Prat-Gay of the move on Thursday when the two met in Davos, Switzerland, the department said in a statement.

Thursday, January 21st 2016 - 07:46 UTC

“Do not forget the poor” Francis tells the global economic elite in Davos

New technologies such as robotics must also not be allowed to replace humans with “soulless machines,” the pope said in a message to the WEF in Davos.

Pope Francis told members of the world's wealthy political and economic elite that they should not be deaf to the cry of the poor and must consider their own role in creating inequality. New technologies such as robotics must also not be allowed to replace humans with “soulless machines,” he said in a message to the World Economic Forum in Davos.

Advertisement

Get Email News Reports!

Get our news right on your inbox.
Subscribe Now!

Advertisement