Argentina’s Gross Domestic Product (GDP) fell 3.8% at the end of the third quarter of the year, with sharp declines in manufacturing, construction and consumption, the INDEC official statistics bureau reported.
Brazil's oil and gas corporation Petrobras announced this week the sale of ethanol and petrochemicals assets for US$587 million, but said it would still fall US$1.5 billion short of its divestment target for the 2015-2016 period.
Venezuelan President Nicolas Maduro says his government will extend the use of 100-bolivar notes to January 20, after a plan to withdraw those bills from the economy sparked protests across the country and widespread looting.
Argentina's beef exports totaled 193,000 tons between January and October, up 10% from the same period last year, the government said, a year after it rescinded export taxes and restrictions.
Brazil's unemployment rate from September to November reached a record high of 11.9%, the country's statistics agency IBGE said. This new rate is a significant year-on-year hike over the same period in 2015, when it stood at 9%.
After months of bailing out Brazil's most iconic city and state, Rio de Janeiro will not be getting their debts renegotiated anytime soon. Brazil president Michel Temer said he will veto plans to renegotiate loans with Rio, Minas Gerais and Rio Grande do Sul states. All three states are economic powers of Brazil and have fallen on hard times over the last three years.
The Brazilian government has not pressured state-run banks to free up credit and reduce their spread, but interest rates are likely to fall as the central bank's benchmark Selic rate continues to drop, state-controlled Banco do Brasil Chief Executive Officer Paulo Rogerio Caffarelli said.
Through Resolution 109/2016 of the Regulatory Agency of the National System of Airports (Orsna), published Thursday in the Official Gazette, the supply of ”Wireless Internet Provision Service Standard (WIFI) at Group A airports” became mandatory.
Uruguayan oil company ANCAP announced Wednesday through a press release that one of its companies, Carboclor S.A., based in Argentina, had turned to the courts to start the reorganization proceedings, known in Argentinian law as Concurso Preventivo, which is very similar to the United States' Chapter Eleven bankruptcy mechanism.
Lord King, the former governor of the Bank of England, has said that the UK should be self-confident about leaving the European Union since there were real opportunities for economic reform and new trade deals which meant Brexit could be a success. He highlighted agricultural reform and a developing relationship with the Republic of Ireland as areas where the UK could be positive.