Consumer prices in Uruguay ended the year at 7.48% after recording the lowest December percentage in forty years: a negative 0.73%. However analysts and consultants anticipate that inflation in the first quarter of 2013 will remain above an annualized 8%.
Argentina is among the world’s countries which experienced the highest inflation in the last five years based on average data from the country’s private consultants and the IMF. The double digit inflation was estimated at 21.3%, an approximate average for the 2008/2012 period, and compiled by IERAL an Argentine business think-tank.
North-east Brazil is suffering its worst drought in decades, threatening hydro-power supplies in an area prone to blackouts and potentially slowing economic growth in one of the country's emerging agricultural frontiers.
Venezuelan President Hugo Chávez' formal swearing-in for a new six-year term scheduled for January 10 can be postponed if he is unable to attend due to his struggle to recover from cancer surgery, his vice-president said on Friday.
Argentina’s dredgers union assured a safe passage for when the Navy’s flag ship ARA Libertad arrives to Mar del Plata next 9 January to a big reception party headed by President Cristina Fernandez. There were concerns that the depth of the access channel wouldn’t be enough.
In a full page advert published exclusively in Friday’s Buenos Aires Herald, in English and Spanish, leading British tabloid The Sun admonishes President Cristina Fernández de Kirchner with a “Hands off!” from the Falkland Islands, in response to the Argentine president’s letter to Prime Minister David Cameron, published on Wednesday in several British dailies.
Brazil tapped into its sovereign wealth fund and state companies’ profits in an effort to meet its 2012 fiscal target.
Competitors are putting the final touches to their motorcycles, quad bikes, cars and trucks ahead of the start of one of the world’s most extreme races. The Dakar Rally returns once again to South America, beginning in Lima, capital of Peru on Saturday January 5, before making its way to Santiago de Chile for a grand finale outside La Moneda on January 20.
The European Union expects to advance cooperation and trade discussions with Mercosur late this month in Chile in the sidelines of the EU/Celac (Community of Latin American and Caribbean States), said EU ambassador in Chile, Rafael Dochao Moreno.
Switzerland's oldest bank is to close permanently after pleading guilty in a New York court to helping Americans evade their taxes. Wegelin, which was established in 1741, has also agreed to pay 57.8m dollars in fines to US authorities. The bank had admitted to allowing more than 100 American citizens to hide 1.2bn dollars from the Internal Revenue Service for almost 10 years.