If recent evidence is anything to go by, Brazil’s latest effort to stem the rise in the Real is unlikely to have a lasting impact on the markets, according to Capital Economics.
Brazil unveiled Wednesday the latest effort to stem a flood of foreign capital that is driving the local currency sky-high and undermining the competitiveness of the country’s exports. Finance Minister Guido Mantega blamed the currency woes on the Federal Reserve policy that keeps US interest rates near zero.
Uruguay this year plans to swap part of its foreign-currency bonds for debt denominated in Pesos, said Economy Minister Fernando Lorenzo. Uruguay will also sell Peso securities and use the proceeds to pay off bonds denominated in other currencies, Lorenzo said without providing further details.
The Argentine administration of President Cristina Fernandez de Kirchner called Wednesday on the opposition lawmakers to pass an anti money laundering bill before June other wise Argentina could be black-listed for not having the proper controls.
The South Georgia tourist season is drawing to a close with just one cruise ship left to visit in early April, according to the latest edition of the South Georgia Newsletter.
The number of Falkland Islands skua has declined by almost half in just five years, a survey of the bird's largest breeding ground reveals. It is unclear why the population has crashed on New Island, on the west of the Falkland Islands.
Something appears to be limiting the birds' ability to reproduce, say scientists.
The number of foreign tourists visiting Chile rose 9.2% during the first quarter of 2011 in relation to the same period last year, according to Tourism Secretary Jacqueline Plass. A record-breaking 1,043, 042 tourists entered Chile between January and March, at the height of the summer tourism season.
Portugal's caretaker government said on Wednesday it had decided to seek financing from the European Union in an abrupt turnaround after resisting a bailout for months despite sharply deteriorating financial conditions.
Argentina’s presidential hopeful and former caretaker president Eduardo Duhalde warned that if the opposition doesn’t unite, President Cristina Fernandez de Kirchner will defeat them next October 23 and be re-elected for a second four year mandate.
White House officials said the United States and Colombia have reached a deal on a free trade agreement. President Barack Obama and Colombian President Juan Manuel Santos are to meet Thursday to discuss the deal.