The European Union and Mercosur could strike a free trade deal within two years, according to Argentina’s Commerce Secretary Miguel Braun. After Brexit, Mercosur would be open to a separate trade deal with the UK. Trade negotiations between the EU and Mercosur nations are still on track, despite the UK’s decision to leave the bloc and uncertainty over the future of the EU’s other major trade agreements – TTIP and CETA.
The Economic Commission for Latin America and the Caribbean (ECLAC) has revised its economic growth projections for the region and now expects a 0.9% average contraction for Latin America and the Caribbean this year. Economic activity is expected to pick up in 2017 with average growth of 1.5%, according to a press release by the United Nations agency.
With Haiti facing the dual challenges of addressing the impact of Hurricane Matthew and restarting preparations for the holding of the much-anticipated elections, the United Nations envoy for the Caribbean country on Tuesday expressed support for the recommended extension of the UN mission there by six months until mid-April 2017.
Matthew, meanwhile, lost its hurricane status, subsiding to a “post-tropical cyclone” after cutting a swath from Florida to South Carolina in United States. Matthew crashed ashore on Haiti’s southern coast on Tuesday as a monster Category 4 storm, packing 230 km winds.
The president of Colombia was awarded the Nobel Peace Prize on Friday for pursuing a deal to end 52 years of conflict with a Marxist rebel group, the longest-running war in the Americas, just five days after Colombians rejected the agreement in a shocking referendum result.
International Monetary Fund said that the economy of Latin America and the Caribbean will shrink 0.6% this year, compared with its earlier projection of a 0.5% contraction. The prediction is part of the latest edition of the IMF's World Economic Outlook, which points out that while major regional economies such as Brazil and Venezuela are suffering, most other countries in the area continue to expand.
Colombian President Juan Manuel Santos said Wednesday peace with the FARC rebels is “close,” but his top opponent demanded an overhaul of a “weak” deal rejected by voters in a referendum.
Hurricane Matthew is forcing a growing number of cruise ships to alter course as it barrels northward toward Haiti, Cuba and the Bahamas. Cruise giant Carnival has rerouted half a dozen ships scheduled to visit ports in the region over the next few days, including the Carnival Sensation, Carnival Splendor and Carnival Ecstasy.
Foreign minister Susana Malcorra said that the Falklands/Malvinas issue has “an enormous emotional content”, but as her country's main diplomat her duty is to ensure a dialogue that can advance, in the best possible way, on all issues. The minister also described the Mercosur relation with Brazil as “inexorable”, which is beyond ideologies underlining the significance of Brazil's Michel Temer recent visit to Argentina.
Colombia's president tried Monday to keep alive an agreement to end Latin America's longest-running war after a shocking rejection by voters, but his opponents made clear their price for joining the effort will be steep.