Economy

• Friday, December 13th 2013 - 13:04 UTC

  Brazil to lower economy stimulus beginning with subsidized credit lines

  

  Brazil will raise interest rates on some state-subsidized credit lines in 2014 withdrawing part of the stimulus that helped boost investments but also hurt public finances this year. Interest rates on loans for the purchase of capital goods and trucks will climb to 6% per year, from 4%, while a special credit line for exports will climb to 8% from 5.5%.

• Friday, December 13th 2013 - 12:57 UTC

  Argentina surprised by EU request to delay another month trade negotiations with Mercosur

  

  The European Union has asked for a one-month delay in the exchange of proposals to kick off free-trade negotiations with Mercosur, Argentine Cabinet Chief Jorge Capitanich confirmed on Thursday. The news was first reported by Sao Paulo newspapers on statements from Brazilian Foreign minister Luiz Fernando Figuereido.

• Friday, December 13th 2013 - 09:01 UTC

  Congress and White House agree on budget bill which should end clashes

  

  The US House of Representatives has approved a two-year federal budget bill in a strong showing of cross-party support, further avoiding the specter of another government shutdown. The measure, written by the Republican and Democratic heads of the House and Senate budget committees respectively, was approved by a 332-94 vote.

• Friday, December 13th 2013 - 08:59 UTC

  Abundance of cereals, 6% ahead of the 2011 record, says FAO latest forecast

  

  FAO’s latest forecast for world cereal production in 2013 has been revised upward marginally (2 million tons) since November to a new high of almost 2 500 million tons (including rice in milled terms), 8.4% more than last year and some 6% above the previous record in 2011. The latest revision mostly reflects adjustments to maize output estimates in the United States, the Russian Federation and Ukraine, which had become firmer towards the completion of the harvests.

• Friday, December 13th 2013 - 08:52 UTC

  FAO food price index in November unchanged: dairy up 23% over a year ago

  

  The FAO Food Price Index averaged 206.3 points in November 2013, almost unchanged from the revised value of 206.6 points in October, but 9.5 points (4.4%) below its November 2012 value. A sharp decline in sugar prices last month nearly offset the rise in oils. Cereals averaged slightly lower but meat and dairy values were stable.

• Friday, December 13th 2013 - 08:47 UTC

  Keeping up with inflation in Argentina: after calming police, who's next in the queue

  

  Police protests and widespread looting in 19 of the 24 Argentine provinces has, in a few weeks, shattered expectations about the new cabinet of President Cristina Fernandez and a stabilization of the economy, since as can be anticipated government employees and unions will be demanding similar conditions as their blue uniformed colleagues to keep up to date with inflation, running at an annualized 26% according to the November reading.

• Thursday, December 12th 2013 - 06:54 UTC

  EU admits difficulties and requests Mercosur to delay the exchange of tariff proposals

  

  The European Union has formally requested that the exchange of tariff proposals with Mercosur for the creation of a cooperation and free trade zone, originally scheduled for next week, be delayed until 2014. The message was received by the Brazilian delegation at the recent WTO Bali discussions.

• Thursday, December 12th 2013 - 06:47 UTC

  Brazil expects a 90 million tons soybean crop, making it the world's top producer

  

  Brazil's government food supply agency Conab forecast record soybean output of 90.03 million tons, near the top of its previous forecast of 87.9 million to 90.2 million tons, as farmers finish planting new fields.

• Thursday, December 12th 2013 - 06:39 UTC

  London conference on Pacific Alliance; UK granted observer status

  

  Over 150 representatives of British companies and businesses attended the conference on the Pacific Alliance (Chile, Peru, Colombia and Mexico) organized by the British Foreign & Commonwealth Office and the Financial Times. The Alliance is considered one of the newest and most promising political and economic blocks is emerging from Latin America.

• Thursday, December 12th 2013 - 06:33 UTC

  Latam forecasted to expand 3.2% in 2014 after a 2.6% this year, says Eclac

  

  The economies of Latin America and the Caribbean will expand by 3.2% in 2014, which is higher than the 2.6% for 2013, according to the latest report from the UN Economic Commission for Latin America and the Caribbean, launched on Wednesday in Santiago, Chile.