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Montevideo, October 28th 2016 - 02:34 UTC


  • Thursday, October 27th 2016 - 03:29 UTC

    Lowering interest rates in Brazil will be “moderate and gradual”, says Central bank

    Lower interest rates and inflation rates are expected to help return to growth: a relief to unpopular President Temer and to 12 million unemployed workers.

    Inflation forecasts for the next couple of years point to limited room for monetary easing in Brazil, the central bank said on Tuesday, suggesting it is unlikely to accelerate the pace of interest rate cuts in its November policy meeting. In the minutes of its Oct. 19 meeting, in which it cut its benchmark Selic rate by 25 basis points to 14%, the bank also said it was worried about a recent pause in the slowdown of services price rises.

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  • Thursday, October 27th 2016 - 01:23 UTC

    Tierra del Fuego PC assembly industry at risk if import tariffs (35%) are lowered

    The head of the Argentine chamber of Electronic, Electro-mechanic and Lumino-technical industries , Jose Luis Cavanna warned that there are 12.000 jobs at risk

    A new challenge for Tierra del Fuego province and its industrial promotion scheme: the Argentina government is planning to eliminate all tariffs on the import of computers and components beginning 2017, which is estimated could cost anywhere from 4.000 to 12.000 jobs.

  • Tuesday, October 25th 2016 - 10:29 UTC

    Macri and Vazquez agree that the trade approach to China should be done from Mercosur

    Macri said that his government understands Uruguay´s need to have access to other markets and open to the world's second largest economy.

    Argentine president Mauricio Macri promised his Uruguayan peer Tabare Vazquez to look into the draft of a Uruguay/China free trade deal, and expressed their deep concern about political events in Venezuela suggesting that under the current circumstances the Nicolas Maduro government cannot be considered a member of Mercosur.

  • Monday, October 24th 2016 - 18:11 UTC

    First Mercosur test for Uruguay´s free trade agreement negotiations with China

    President Vazquez and several ministers will meet with Macri(L)i in Buenos Aires to discuss an agenda of common interests

    Uruguay and Argentina, and their cabinets will be meeting this Monday in Buenos Aires to address a bilateral agenda, which was agreed long before hand, but the real issue will not necessarily be trade, dredging canals, pulp mills, customs or facilitating people's movement, but rather the negotiations for a free trade agreement which supposedly Uruguay is about to begin discussing with China.

  • Friday, October 21st 2016 - 02:56 UTC

    Brazilian central bank lowers basic rate 0.25 points on more optimistic recovery data

    The new, market-friendly central bank governor, Ilan Goldfajn, is expected to oversee further rate cuts before the year ends.

    Brazil's central bank cut its key interest rate for the first time in more than three years on Wednesday as a new center-right government's reforms fuel hopes of a recovery in Latin America's largest economy. The bank lowered the benchmark Selic rate by 0.25 points, to 14%, still one of the world's highest, and cited a dip in inflation and forecasts that a long recession -- Brazil's worst in a century -- is nearing its end.

  • Monday, October 17th 2016 - 06:53 UTC

    Mercosur founding members share same economic model and are targeting trade accords, says ECLAC

    “What is happening is that Uruguay, Paraguay, Brazil and Argentina have found an economic model which they share”, Alicia Barcena argued

    Tensions inside Mercosur can be attributed to the fact that Argentina, Brazil, Paraguay and Uruguay share a development “economic model” which distances them from Venezuela, and are prepared to advance in trade negotiations with the European Union, and even with the Pacific Alliance. Venezuela on the other hand has as its main priority putting the deteriorated economy back on the growth track, according to the UN regional economic commission ECLAC, chair Alicia Barcena.

  • Sunday, October 16th 2016 - 06:18 UTC

    Argentina 'upset and disappointed' with UK military exercises in Falklands but insists with dialogue

    “We feel upset and deeply disappointed because it entails a presumption of conflict hypothesis”, pointed out  minister Malcorra during a media conference at the Argentine embassy in the Vatican

    The Argentine government feels “upset and deeply disappointed” with the announced British military exercises in the Falklands/Malvinas, which includes the launching of missiles, but nevertheless the government will continue working “to build the opportunity of a dialogue which eliminates the presumptions of conflict” with the UK, said foreign minister Susana Malcorra on Saturday in the Vatican.

  • Friday, October 14th 2016 - 09:17 UTC

    EU-Mercosur trade deal within two years, followed by negotiations with UK

     “Mercosur has moved to improve its offer and we are optimistic that we can work towards a better deal,” said Argentine Commerce Secretary Miguel Braun

    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.

  • Wednesday, October 12th 2016 - 10:49 UTC

    UK official praises Mercosur new trade and integration focus

    “Our impression is that Mercosur is coming out of a difficult moment, it has been through a complicated period in recent years”, said FCO official Nigel Baker

    Mercosur has “lost focus” because of years of political and ideological discussions instead of concentrating in trade integration, commented Nigel Baker, deputy head of the Foreign Office South America's department during a two day visit to Paraguay. The ex ambassador in the Vatican also anticipated that Brexit, UK leaving the European Union will help strengthen overall relations with Paraguay, one of Mercosur four founding members.

  • Tuesday, October 11th 2016 - 03:20 UTC

    Brazil's prosecutor office questions spending cap: fears it could limit corruption investigations

    The Temer proposal “invades the judicial system budgeting competence drastically, risking to impact the exercise of its constitutional and institutional functions”

    Brazil’s Prosecutor-General’s Office questioned the constitutionality of President Michel Temer’s proposed public spending cap and recommended that Congress shelve the austerity measures. The office said in a statement the proposal interferes with the autonomy of other federal powers and would weaken the country’s judicial system, handicapping efforts to combat corruption.