Mercosur

Mercosur
Thursday, September 25th 2014 - 03:14 UTC

Brazil scrambles to support the Real; as Dilma recovers in the polls the currency falls

“The Real is facing strong downward pressure as Rousseff rises in the polls.”

Brazil’s Real advanced from a seven-month low as the central bank signaled it will maintain support for the currency when it increased the number of foreign-exchange swap contracts offered in a rollover.

Thursday, September 25th 2014 - 03:12 UTC

Uruguay presidential campaign: government distributes 10 US dollars for each valid ballot

The current sum in the range of almost 23 million dollars is based on the 2.224.871 valid ballots of the previous election in 2009.

The Uruguayan government released this week the equivalent of 22.9 million dollars for the financing of political parties campaigning for 26 October when presidential and legislative elections are scheduled. In Uruguay political parties receive government support for electoral activities and private donations are closely scrutinized.

Wednesday, September 24th 2014 - 15:55 UTC

Argentia economic situation can become 'harmful' for the region says Moody's

“Inflation, high interest rates and recession have forced Argentine consumers to cut expenses, which can impact negatively on the region

Credit ratings agency Moody's Investors Service has warned about the Argentine situation which can become “harmful” for Latin America, stating that the country's economy is in “decline” and qualifying current policies as “highly risky.”

Wednesday, September 24th 2014 - 15:44 UTC

Marina blasts Dilma Rousseff for not supporting UN deforestation dead line initiative

“Our president did not sign in support of protecting those forests, which is regrettable and disappointing”, said Marina Silva

Environmentalist and presidential opposition candidate Marina Silva blasted Brazilian president Dilma Rousseff for not supporting an initiative to put a deadline on deforestation supported by 32 countries this Tuesday during the Climate summit in New York.

Wednesday, September 24th 2014 - 15:42 UTC

Deforestation deadline initiative watered down by lack of support from Brazil

“We were not consulted; I think that it’s impossible to think that you can have a global forest initiative without Brazil on board”, said minister Izabella Teixeira

More than 30 countries set the first-ever deadline on Tuesday to end deforestation by 2030, but the feasibility of such a goal was eroded when a key player, Brazil, said it would not join.

Friday, September 19th 2014 - 07:28 UTC

EU hopeful the free trade accord with Mercosur will be reached next year

“We expect the Mercosur proposal on tariffs reduction will be on terms agreed back in 2010” said Fernandez Trigo

Once the EU and Mercosur exchange their proposals for a free trade agreement, negotiations will 'move fast' and the deal should be closed sometime in 2015, according to EU ambassador in Montevideo, Juan Fernandez Trigo. But he also pointed out that he expected Mercosur proposal to be in accordance with terms established in 2010.

Tuesday, September 16th 2014 - 05:28 UTC

Mercosur/Pacific Alliance foreign ministers plan to meet in Chile in November

“Mercosur must look outwards and stop looking at its belly button”, said Loizaga on announcing the meeting.

Foreign affairs ministers from Mercosur and the Pacific Alliance will be meeting next 24 November in Santiago de Chile to explore a possible integration between the two blocks according to Paraguay's foreign minister Eladio Loizaga.

Thursday, September 11th 2014 - 17:00 UTC

There are two Mercosur, but only the ideological one prevails

The ideological Mercosur is limited to a political board of three. Brazil, Argentina and Venezuela, “the original Mercosur is over” indicated Magnoli

The original Mercosur is over; it has been reduced to a political block with a three member board, Brazil, Argentina and Venezuela, according to Demetrio Magnoli a renowned Folha de Sao Paulo columnist who added that the 'political' Mercosur has helped the Alliance of the Pacific to advance.

Friday, September 5th 2014 - 07:47 UTC

Argentine Senate approves bill changing debt payment jurisdiction; next step Lower House

“Sometimes there are court decisions that cannot be followed,” said Miguel Angel Pichetto, head of the government's coalition in the Senate.

Argentina's Senate on Thursday passed a bill aimed at circumventing U.S. court decisions regarding its defaulted debt by changing payment jurisdiction, sending the proposal to the lower house Chamber of Deputies for final approval. The chamber, like the Senate, is controlled by government allies who are expected to vote the bill into law.

Friday, September 5th 2014 - 07:33 UTC

NML Capital subpoenaed 18 banks in search of embezzled Argentine funds

Lead attorney for NML, Robert Cohen of Dechert, said  that the list of banks all have at least a presence in the United States

NML Capital Ltd, a creditor suing Argentina in the U.S. courts for full payment on defaulted debt, subpoenaed 18 banks last week in an effort to track down 65 million dollars in what it says is embezzled Argentine money laundered through the United States.

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