Thursday, April 9th 2015 - 03:28 UTC

Brazilian ruling coalition members sign letter pledging to support austerity package

Rousseff's unruly coalition pledged in a letter to support her austerity package, a deal  brokered by Vice President Michel Temer as the link between Executive and congress

Brazilian congressional leaders within President Dilma Rousseff's coalition signed a joint letter on Wednesday pledging to support her austerity package, an unexpected sign that the ties with her unruly coalition are improving. The deal was brokered by Vice President Michel Temer on his first day as the official go-between tasked with mending Rousseff's tense relations with coalition lawmakers.

Thursday, April 9th 2015 - 02:45 UTC

With the end of commodities prices 'super-cycle', UN panel lowers Latin American growth forecast to 1%

Meanwhile, the end of the so-called “super-cycle” in commodity prices is affecting several countries in the region negatively.

The Economic Commission for Latin America and the Caribbean (ECLAC) has revised downward its economic growth projection for the region in 2015, forecasting a 1.0% increase in the regional Gross Domestic Product (GDP), the United Nations organization said today in a press release.

Thursday, April 9th 2015 - 01:35 UTC

Brazil inflation soars as electricity rates go up 22% in March and 60.42% in the last 12 months

Housing costs rose 5.29% in March from February alone, pushed up by a 22% increase in electricity rates because of a severe drought affecting hydroelectric production

Consumer prices in Brazil picked up in March, putting the 12-month rate at the highest level in more than eleven years, highlighting one of the main challenges facing Latin America's largest economy in the year ahead. The rolling 12-month IPCA was up 8.13% through March, up from 7.70% in February, remaining well above the central bank's 6.5% ceiling. In the first quarter of the year, prices have risen 3.83%, while the 12-month figure marked the highest level since December 2003, when it reached 9.30%.

Wednesday, April 8th 2015 - 18:26 UTC

Santos port soy exports expected to resume at slow pace after six-day fire

Trucks heading to the port through the city of Santos on the Anchieta Highway were prevented from entering, although they could proceed to Guaruja

Brazil’s soy exports will likely slow because a six-day fire at a nearby fuel-storage facility has restricted access to Brazil’s largest port, Santos, a port official and the soy industry association Abiove said. Authorities have agreed to restrict truck access to some terminals at the port at least through Wednesday while flames are extinguished.

Wednesday, April 8th 2015 - 16:12 UTC

Falklands, South Atlantic islands, Antarctica included in new Tierra del Fuego official map

Governor Fabiana Rios sent the bill for approval by the provincial legislative in Ushuaia, most probably with the blessings from Buenos Aires

Argentina's most southern province identified as Tierra del Fuego, Antarctica and South Atlantic islands is redesigning its internal political limits with the purpose of “contributing to the territorial sovereignty of the Nation”, according to a bill sent to the provincial legislative by governor Fabiana Ríos and drafted with help from the Malvinas Question Advisory Observatory.

Wednesday, April 8th 2015 - 14:44 UTC

Argentina's few friends in the world; China and Russia, Cristina Fernandez foreign policy priorities

“Argentina has been erased from world leaders' agenda with the exception of China and Russia”, points out Morales Solá

Argentina's foreign policy, under president Cristina Fernández, has new priorities, China and Russia, according to columnist Joaquin Morales Solá, one of the outstanding political analysts of Argentina. This means a radical change from democratic Argentina (since 1983) when the interests of the country were targeted in Latin America, particularly Brazil, Europe and the US, although the importance of the short list varied according to the different elected presidents.

Wednesday, April 1st 2015 - 08:05 UTC

Public-private partnership to rehabilitate Uruguay's most transited highways

Route 21 is used mostly by trucks transporting grains to the Nueva Palmira port, the country's second busiest

Spanish construction company Sacyr joined Uruguay's Grinor in a consortium bidding for a contract to recover and maintain highways in the Mercosur member country.

Friday, March 27th 2015 - 07:15 UTC

Mercosur is being left out of the main global trade flows, argues Uruguay

“We are interested in integrating to the world's main trade flows and Uruguay and Mercosur are being left out of that dynamic traffic”, said Nin Novoa.

Mercosur is being left out of the main global trade flows since it only belongs to 1% of free trade treaties or tariff preference agreements, which actually represent half of world trade, said Uruguay's foreign minister Rodolfo Nin Novoa during a conference on “Education and regional integration”.

Thursday, March 19th 2015 - 07:26 UTC

Uruguay's Economy minister warns about Mercosur and Brazilian situation

“There are complications at global level and very significant at regional scale, not only relative to economic affairs but also to political affairs” said Astori

Uruguay's Economy minister Danilo Astori warned about the new regional and international context, not so favorable to his country's interests as in recent years, and underlined that Mercosur is going through one of its worst moments since foundation in 1991.

Sunday, March 15th 2015 - 02:33 UTC

Argentina will keep to its monetary policy despite a 20% devaluation of the Brazilian Real

Vanoli said that the US dollar in Argentina is at an “adequate level” to combat volatility, bring down inflation and boost growth

Argentina’s central bank governor Alejandro Vanoli said that despite the continued erosion of the Brazilian currency against the US dollar, which ended the week trading at 3.28 Real to the greenback, monetary policy will continue to manage the foreign exchange to avoid volatility and ensure economic growth.


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