Argentina’s “Congress inflation index” reached 1.62% in July, confirming well over 23% for the last twelve months according to the latest release from the Lower House.
Inflation in China was higher than expected in July, despite a series of efforts by the government to rein in prices. Consumer prices in July rose 6.5% compared with the same month last year, the National Bureau of Statistics said.
Brazil’s federal Police arrested on Tuesday Deputy Tourism Minister in a corruption sweep tied to funding for major sports events, the latest in a series of scandals to tarnish President Dilma Rousseff’s government.
Argentina’s Minister of Economy and President Cristina Fernández de Kirchner running mate for the upcoming presidential elections Amado Boudou stressed Tuesday that the country is ready to face the recent international economic crisis that has pushed world markets down for the past week.
The Federal Reserve said on Tuesday it will keep its hefty monetary policy stimulus for at least another two years, an effort to support a flagging economy and fragile global markets that face considerable selling spree.
In an interview with the Buenos Aires Herald, Argentine Defence Minister Arturo Puricelli demands that Falklands’ sovereignty talks must be started before any other issues can be discussed.
Brazil’s new Defence minister Celso Amorim said he plans closer links with Unasur (Union of South American Nations) and Africa to ensure the South Atlantic turns into a peace zone free of weapons of mass destruction.
Uruguayan President Jose Mujica said Monday that the developed world financial scenario is quite disappointing almost regrettable, and recovery in those countries can be expected to be “very slow and full of uncertainties”
“I have no doubts we are before the most significant financial crisis capitalism has faced in contemporary history”, said Uruguay’s Vice-president Danilo Astori when asked about the possible consequences for the region if the lack of confidence in the US dollar and Euro extends.
Danish wind turbine maker Vestas is to establish its first assembly plant in Brazil and expects it to be operational in the fourth quarter.