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.
By Nick Cunningham of Oilprice.com
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.
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.
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.
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.
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.
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.
France's Total ready to begin drilling offshore Uruguay: risky project but it could be AN ”elephant''
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.
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.
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.