Uruguayan economic officials have warned the ruling coalition Broad Front about the regional risk-situation in complex Argentina and stalled Brazil, and its influence on Uruguay which needs to lower its budget deficit and improve labour productivity and competitiveness.
U.S. Vice President Joe Biden encouraged Brazil to open its economy further to keep up with free trade trends worldwide during a visit aimed at boosting business between the two largest economies in the Americas.
Brazil's economy grew 0.6% in the first quarter of 2013, compared with the final quarter of last year, the government said this week. The figure could confirm official projections that the economy would recover following the slowdown experienced over the past two years.
Brazil's central bank raised its benchmark interest rate on Wednesday to 8% from 7.5%, as part of an effort to battle high inflation in an economy that keeps struggling with slow growth.
In his first visit to Colombia in more than a decade, US Vice President Joe Biden said on Monday that he is pleased security concerns can now take a back seat to trade and economic issues in talks with Washington’s long-time ally. Biden also praised President Juan Manuel Santos for helping lead Latin America toward a “middle class, democratic and secure” future.
Heavy rains in the Brazilian north-eastern city of Salvador tore through the roof of a newly constructed stadium for Confederations Cup soccer games starting next month, a warm-up before Brazil hosts the World Cup next year.
Uruguayan president Jose Mujica currently in Beijing on an official visit, underlined the significance of China in trade and investments fro South America, but also admitted there is some ‘fear’ mainly from Argentina and Brazil about a greater integration and dependency from the Asian giant.
Brazil posted another hefty current account deficit in April as its traditional trade surplus has turned into a deficit this year and foreign companies are repatriating more of their profits, according to central bank data.
Mercosur must negotiate any possible incorporation to the Alliance of the Pacific “as a block” since it is important that its member countries remain ‘united’ and respect the current charter, said the Mercosur High Representative, Ambassador Ivan Ramalho from Brazil.
Brazil's jobless rate rose slightly in April for the fourth straight month but remained near record lows, suggesting that tight labour conditions bolstered a gradual recovery and fed into inflation, statistics agency IBGE said this week.