Mercosur

Mercosur
Friday, October 10th 2014 - 05:01 UTC

Latam headed for a third year of foreign trade stagnation, reports ECLAC

“The regional market is key to developing value chains in Latin America and the Caribbean”, argues ECLAC secretary Barcena

Latin America and the Caribbean's foreign trade will experience its third year of stagnation in 2014, because of minimal growth in exports and a slight decline in imports, the Economic Commission for Latin America and the Caribbean (ECLAC) reported on Thursday.

Thursday, October 9th 2014 - 06:08 UTC

Mercosur finally agrees: unified number plates for new cars beginning 2016

Timerman and other officials hold the enlarged prototype of the Mercosur cars' number plate

The five full members of the Mercosur trade bloc will use unified number plates for their 0km vehicles starting in 2016, Argentine Foreign Minister Hector Timerman announced on Wednesday from San Martín Palace in Buenos Aires city.

Wednesday, October 8th 2014 - 08:24 UTC

Uruguay presidential race to be decided in runoff in November seems confirmed by latest poll

Former president Vazquez has 42% vote intention and Lacalle Pou, 32%

A run off in November to elect Uruguay's president seems most certain because none of the two leading candidates will manage a majority in the first round on 26 October, according to the latest public opinion poll.

Monday, October 6th 2014 - 05:56 UTC

Dilma (40%) and Neves (34%) to the runoff; mathematically the opposition can win

Dilma faces a tough run off. The effectiveness of Lula da Silva at its utmost trial

Brazil's unpredictable election took another twist Sunday, with populist President Dilma Rousseff forced into a runoff race as expected, but against a center-right challenger who only surged in the final week of the campaign.

Saturday, October 4th 2014 - 08:25 UTC

Pacific Alliance and Mercosur will attempt convergence, sponsored by Chile

“At this stage it is not realistic to think about a tariffs and regulations convergence, given the existing differences”, admitted minister Muñoz.

A first meeting to assess opportunities for accords between the Alliance of the Pacific and Mercosur will take place next November in Santiago de Chile confirmed, confirmed Chilean foreign minister Heraldo Muñoz.

Monday, September 29th 2014 - 21:16 UTC

Judge Griesa declares Argentina in contempt of court, but deferred financial penalties

Griesa ruled Argentina had not followed court's orders following the passing of a law which seeks to remove BONY Mellon as financial intermediary to pay bondholders

New York district judge Thomas Griesa declared on Monday Argentina in contempt of court, due to the country's actions in attempting to change debt jurisdictions as a result of the ongoing judicial conflict with holdout investors presided over by the US magistrate.

Monday, September 29th 2014 - 09:22 UTC

Venezuela's Bolivar hits a record low of 100 to the US dollar

The sinking rate of the Mercosur member's currency on what is known as the “parallel” currency market has been a major headache for President Maduro

Venezuela's Bolivar currency hit a record low 100 to the U.S. dollar on the black market on Friday, making the dollar 16 times more expensive than the strongest official rate, according to a website that tracks it.

Thursday, September 25th 2014 - 06:44 UTC

Brazil calls for 'true reform' of Security Council and the 're-launching' of global economy

Rousseff described the current composition of the Council as “inadmissible” and urged for a reform that would give more power to emerging countries

Following the opening remarks by UN Secretary General Ban Ki-moon, Brazil’s president Dilma Rousseff was the first head of state to address the General Assembly on Wednesday. She called for a “re-launching of global economy” and a “true reform” of the UN Security Council.

Thursday, September 25th 2014 - 06:34 UTC

Cristina Fernandez claims holdouts are committing “economic and financial terrorism”

“The vulture funds threaten and attack with actions against our country's economy, causing rumors, mistruths and outright lies,”

Argentine President Cristina Fernández accused holdout investors of committing “economic terrorism” and reiterated her wish for a multi-lateral framework to regulate sovereign debt, during her speech before the United Nations 69th General Assembly on Wednesday.

Thursday, September 25th 2014 - 05:17 UTC

Argentina must explain to Judge Griesa why it is not in contempt of court

Griesa stated on Thursday that the Argentina faces a 50,000 dollar daily fine if it does not comply with the ruling.

New York district judge Thomas Griesa has asked Argentina to show cause and explain why the country should not be declared in contempt, following its decision not to pay holdout investors full amount for their defaulted bonds as the judge’s ruling ordered on August 8.

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