Economy

Saturday, January 25th 2025 - 10:36 UTC
Foreign travelers contribute significantly to Brazil's economy in 2024

Foreign travelers brought in US$7.341 billion in revenue to Brazil last year, the South American country's Central Bank (BCB) announced on Friday, citing a report from the Ministry of Tourism. These figures represented the best results in 15 years, and an increase of 6.28% compared to the US$6.907 billion in 2023.
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Saturday, January 25th 2025 - 09:29 UTC
Moody's improves Argentina's grades

The international credit rating agency Moody's Friday improved Argentina's long-term foreign and local currency issuer grades from Ca to Caa3 but warned that “there are still significant risks to the country's ability to cover upcoming external debt payments.”
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Thursday, January 23rd 2025 - 10:22 UTC
IMF mission arrives in Buenos Aires to discuss US$ 11 billion loan

An International Monetary Fund (IMF) team landed in Buenos Aires Wednesday to discuss Argentina's eligibility for a US$ 11 billion new loan to make up for the South American country's currently negative reserves. The mission is headed by the IMF's Western Hemisphere Department Deputy Director Luis Cubeddu.
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Thursday, January 23rd 2025 - 08:59 UTC
Brazil: Dollar plunges to lowest level since November

The US dollar fell Wednesday below R$ 6 following Donald Trump's second inauguration this week in Washington DC, thus reaching its lowest level since November. Meanwhile, the stock market fell for the first time after three straight rises. The commercial dollar closed Wednesday at R$ 5.946 after hitting R$ 5.91 around 2 pm. So far this year, the US dollar went down by 3.79%.
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Wednesday, January 22nd 2025 - 21:13 UTC
Milei would have no qualms breaking up with Mercosur if need be for FTA with US

Argentine President Javier Milei said in an interview with Bloomberg in Davos (Switzerland) that if breaking up with the Southern Common Market (Mercosur) was a requirement to sign a Free Trade Agreement (FTA) with the United States, he would not hesitate to do it.
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Wednesday, January 22nd 2025 - 09:30 UTC
Brazilian Central Bank report foresees 5.08% inflation for this year

The Focus Bulletin released earlier this week by Brazil's Central Bank (BCB) projected a 5.08% inflation for this year in South America's largest country. The new prediction represented a slight twitch from last week's 5% National Consumer Price Index (IPCA). Meanwhile, Brazil's Gross Domestic Product (GDP) - the sum of goods and services produced in the country - is expected to grow by 2.04% in 2025, a slight improvement from 2.02% the week before.
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Tuesday, January 21st 2025 - 21:45 UTC
Italian teenager toys with Mediterranean merchant ship traffic just for fun

A 15-year-old lad from Cesena, Italy, toyed with merchant ship routes in the Mediterranean after accessing the navigation systems just for fun. Although no material damage was reported, a criminal case has been opened against the teenager, whose parents claimed to be unaware of those activities.
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Tuesday, January 21st 2025 - 10:45 UTC
Argentina records foreign trade surplus in 2024

Argentina posted last year its highest nominal trade surplus in two decades, according to a National Institute of Statistics and Census (Indec) report released Monday in Buenos Aires. The document showed a US$ 18.9 billion positive outcome which contrasted with the US$ 6.925 billion deficit the year before.
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Monday, January 20th 2025 - 07:12 UTC
Milei holds positive meeting with Georgieva

Argentine President Javier Milei and International Monetary Fund (IMF) Managing Director Kristalina Georgieva held a meeting Sunday in Washington DC ahead of Donald Trump's inauguration to discuss the economic situation in the South American country.
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Monday, January 20th 2025 - 05:56 UTC
Shock-Proofing the UK Economy

By Mohamed A. El-Erian (*) - No country wants external developments to drive up its borrowing costs and weaken its currency, which is what the UK is facing today, together with serious cyclical and structural challenges. But if the British government responds appropriately, recent market volatility might turn out to have a silver lining.
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