Sunday, March 13th 2016 - 22:49 UTC

Argentina's government release of 2015 fiscal results triggers strong controversy

The Macri government said that 291 billion pesos were registered as 2015 deficit, 1.6 percentage points more of GDP when compared to the 3.8% of GDP in 2014.

Argentina's Finance Ministry finally released its fiscal results for the 2015 period, which showed a deficit amounting to more than 5% of GDP. The figure is likely to be subject to much controversy and discussion, as the government of president Mauricio Macri introduced new methodology to calculate its figures.

Sunday, March 13th 2016 - 22:40 UTC

Oil at US$ 67 in Argentina has all the Majors converging

With the crash in prices since mid-2014, the effect of the regulation has reversed: motorists are now effectively subsidizing the oil industry.

By Nick Cunningham of

Argentina offers one of the few places on earth where oil companies are not suffering from the full force of the collapse in prices. Argentina regulates oil prices, a policy originally intended to insulate the public from the whims of the market, protecting people from triple-digit crude prices. But with the crash in prices since mid-2014, the effect of the regulation has reversed: motorists are now effectively subsidizing the oil industry.

Sunday, March 13th 2016 - 22:27 UTC

Falklands: Mar del Plata bishop blesses “Identity Crossing” swimmers, and 250 rosaries

Bishop Marino following the blessing of 250 rosaries, described the announced crossing and visit to the Argentine cemetery as “an act of justice”.

Mar del Plata bishop Monsignor Antonio Marino met with the swimmers that are planning to cross the Falklands' sound, or “Identity Crossing”, and blessed rosaries they will be taking to the Argentine memorial in Darwin.

Sunday, March 13th 2016 - 22:22 UTC

Argentine bonds: US Appeals court puts on hold Judge Griesa's lifting of injunctions

The Second US Circuit Court of Appeals confirmed the March 2 ruling by Griesa until it could hear an appeal by creditors opposed to the lifting of the injunctions.

United States appeals court put on hold a United States District Judge Thomas Griesa ruling lifting injunctions that have restricted Argentina from paying off some debts in light of the country’s US$6.5 billion offer to settle litigation over bonds in default since 2002.

Sunday, March 13th 2016 - 21:50 UTC

More than a million people fill the streets of Brazil demanding removal of Rousseff

In Rio, which hosts the Summer Olympics in August, the crowd took over a long section of Avenida Atlantica, running along the beachfront of Copacabana.

More than a million people have poured onto the streets of Brazil to demand the removal of the country's president Dilma Rousseff. The president is struggling to hold on to power in the face of a massive corruption scandal and the worst recession in decades.

Sunday, March 13th 2016 - 16:54 UTC

Cuba reiterates to Malcorra support for Argentina's Malvinas claim

Susana Malcorra and Cuban peer Bruno Rodríguez Parrilla during the bilateral talks held in Havana. Cuba reiterated support for Argentinas Malvinas claim

Argentina's foreign minister Susana Malcorra made a quick working visit to Cuba where she held talks with her peer Bruno Rodríguez Parrilla to address bilateral issues and also met the representatives from the Colombia-Farc peace talks which are taking place in Havana.

Sunday, March 13th 2016 - 16:50 UTC

Brazil's largest party agrees that if Rousseff is forced out, Temer will replace her

The party also re-elected as its leader Vice President Michel Temer, the man who would take over as president if Rousseff is forced out.

Brazil's largest political party and decisive member of the ruling coalition said on Saturday it will take 30 days to decide whether to break with President Dilma Rousseff as she faces an impeachment battle. Calls within the Brazilian Democratic Movement Party, PMDB, to ditch the coalition have been growing as Rousseff faces a bruising recession, a spiraling corruption scandal and a probe of alleged electoral violations, as well as possible impeachment.

Saturday, March 12th 2016 - 07:21 UTC

France's Total ready to begin drilling offshore Uruguay: risky project but it could be AN ”elephant''

Uruguay’s offshore potential has triggered a spurt of deal-making in recent months even as benchmark oil prices trade at 12-year lows.

France’s Total SA announced it is preparing to begin drilling one of its most important offshore exploration wells in the Americas this year as it hunts for a giant oil field in Uruguayan waters. A discovery could extend an exploration boom in a country that currently imports all of its oil and gas needs.

Saturday, March 12th 2016 - 06:59 UTC

Brazilian political leaders discuss strategy in the event of a presidential removal

PMDB Senator Tasso Jereissati told reporters after the meeting that the coming together of the two parties was a sign of how serious the political crisis has turned.

After expressing support for former president Lula da Silva, the Brazilian Democratic Movement Party (PMDB) met with main opposition leaders who are demanding President Dilma Rousseff be impeached. President of the Senate and member of the PMDB Renán Calheiros held extensive talks with the strongest opposition force, the Brazilian Social Democratic Party (PSDB), led by Aécio Neves, and agreed a joint strategy to face the crisis.

Friday, March 11th 2016 - 20:06 UTC

Brazil's February inflation down, but central bank calls for structural reforms and budget control

Inflation slowdown came on easing food and transportation costs. Food prices rose 1.06% in February (2.28% in January). Transportation 0.62% versus 1.77%

Brazil’s consumer-price index slowed in February, providing relief for the country’s central bank amid its efforts to curb inflationary pressures. The consumer-price index, IPCA, rose 0.90% in February, compared with an increase of 1.27% in January, the Brazilian Institute of Geography and Statistics, or IBGE, said.


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