Economy

Economy
Friday, June 12th 2015 - 06:33 UTC

Argentina's CPI in May reached 2% and 28.7% in the last twelve months

“The presses were turned on again to print Pesos with the purpose of propping the economy and thus we're back again at the 2.12% of March”, said Bullrich

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.

Friday, June 12th 2015 - 06:02 UTC

World Bank forecasts Argentina will regain access to capital markets in 2017

Economic activity “will pick up” in the next two years due to a “stronger macroeconomic environment and regained access to global capital markets.”

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.

Friday, June 12th 2015 - 05:05 UTC

Rousseff denies being upset with Argentina over Mercosur and trade policies

“It is very important that Mercosur stays together. Argentina is a great partner, and we have definitely not lost patience with Argentina” said Rousseff

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.

Friday, June 12th 2015 - 04:55 UTC

“Isolated” mad cow case in Ireland; OIE had recently returned the “controlled risk status”

The Irish Minister for Agriculture Simon Coveney said this appeared to be an isolated case, and there was absolutely no risk to people.

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.

Thursday, June 11th 2015 - 04:13 UTC

Timerman waters down Mercosur/EU agreement expectations

Timerman said Argentina favored an agreement, “as long as it is beneficial for both sides and does not sacrifice one single job in Argentina.”

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.

Thursday, June 11th 2015 - 00:41 UTC

Mercosur ready to deliver its proposal for the trade agreement with EU

“I told PM Michel that Brazil and Mercosur are ready to present their trade proposal to the EU in the coming days or weeks” underlined Rousseff

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.

Thursday, June 11th 2015 - 00:29 UTC

Bolivia's Morales does not support Mercosur/EU deal based on 'competitive' trade

“Trade must be focused on solidarity and not in competitiveness if we really want to end poverty”, insisted the president of Bolivia

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.

Wednesday, June 10th 2015 - 22:22 UTC

Bank of England and Chancellor want tougher sentences for bankers' “culture of impunity”

“Criminal sanctions should be updated, with market abuse rules similarly extended and maximum prison terms lengthened,” pointed out BoE Carney

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.”

Wednesday, June 10th 2015 - 06:53 UTC

Uruguay says Brazil and Paraguay are ready to sign trade accord with Europe

“Uruguay's position is well known regarding a free trade agreement between Mercosur and the European Union”, underlined Tabare Vazquez

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.

Wednesday, June 10th 2015 - 06:04 UTC

Brazil launches ambitious $64bn infrastructure package to prop the economy

 “Today is an important day in my second term. We're here especially to renew our commitment to the development of our country” said Rousseff.

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.

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