Brazil’s central bank said slowing global growth will have a large enough disinflation impact and allow policy makers to carry out “moderate” cuts to interest rates.
In a further attempt to ease the pressure on the dollar and decrease the outflow of the Central Bank's foreign currency reserves, the Argentine government ordered insurance companies to repatriate their foreign investments.
Two notorious former Argentine navy officers Alfredo Astiz and “Tigre” Acosta were sentenced to life in prison on Wednesday night after being found guilty of kidnapping, torture and the forced disappearances of many detainees in the former Navy School of Mechanics (ESMA) during the last dictatorship (1976/1983).
Brazil's sports minister resigned on Wednesday over a corruption scandal, the country's GloboNews television station said, reviving concern over President Dilma Rousseff's unstable ruling coalition and the country's lagging preparations for the 2014 World Cup.
Argentina’s extreme south city and Antarctica cruise hub, Ushuaia is feeling the pinch from the latest Chilean measures to attract more vessels and is requesting a costs adjustment to improve competition conditions.
Chile said on Wednesday it was evacuating residents from around the Hudson volcano in the country far south after it spewed a jet of steam a kilometre into the air and seismic activity triggered an avalanche.
European Union leaders announced an agreement early Thursday in Brussels on debt crisis measures including a hard-fought deal with private sector investors to write down Greek bonds by 50%.
Latin America’s economy is forecasted to grow between 3.5% and 4% this year, which is less than previous estimates before the current global financial crisis, said World Bank representative for the region, Pamela Cox.
The World Bank Board approved a 260 million dollars loan to support the Uruguayan government’s reform program in order to consolidate growth with social equity and provide a line of financing to address the impact of the current uncertainty in global economic affairs.
The latest update of Uruguay’s livestock census for the year ending last June 30 shows the number of cattle is below eleven million and the flock at its lowest since colonial times with 7.3 million head.