Economy

Monday, January 22nd 2007 - 20:00 UTC
Argentina completes four years of growth at “Chinese” rates

Five years ago in the middle of political and economic chaos Argentina defaulted and devalued the currency putting an end to a decade of a fixed exchange rate of one peso equivalent to one US dollar.
Monday, January 22nd 2007 - 20:00 UTC
Ecuador plans to restructure debt with 60% face value cut

Following on Argentina's steps, Ecuador plans to cover fiscal needs with the sale of bonds to Venezuela and will renegotiate part of its sovereign bonds only admitting 40% of face value, announced Ecuadorian Finance minister Ricardo Patiño.
Saturday, January 20th 2007 - 20:00 UTC
Argentine industry grows for fourth straight year

Argentina's industrial production grew 8.3 percent last year mainly fuelled by a good performance in the car, construction and food sectors, achieving 50 straight months of growth, according to the state-run INDEC statistics and censuses agency.
Thursday, January 18th 2007 - 20:00 UTC
Uruguay/US sign TIFA agreement next week

Uruguay and United States will sign next week a trade and investment agreement to strengthen and diversify bilateral trade relations announced in Washington John Veroneau, deputy chief of the US Trade Representative Office.
Thursday, January 18th 2007 - 20:00 UTC
Bank of Japan leaves basic rate unchanged at 0.25%

The Bank of Japan left Thursday its benchmark interest rate unchanged at 0.25%, following two days of deliberations and apparently appeasing government officials who say consumer spending and inflation are still too weak.
Thursday, January 18th 2007 - 20:00 UTC
US consumer prices up 0.5% in December; 2.5% in 2006

The United States consumer price index increased 0.5% last December, the sharpest rise in eight months, ending 2006 at 2.5% which however is an improvement over the 3.4% of 2005, reported Thursday the US Labor Department.
Wednesday, January 17th 2007 - 20:00 UTC
Chilean fruit industry warns about “cheap” dollar and costs

Chile's fruit producers had a tough year in 2006, suffering from unfriendly exchange rates despite the association of Chile's Fruit Producers (Fedefruta) appealing for the government to push for a higher-valued U.S. dollar.
Wednesday, January 17th 2007 - 20:00 UTC
Argentine agriculture sales to Mercosur grow 23% in 2006

Argentina in the first eleven months of last year exported to its partners in the Mercosur trade bloc 7.9 million tonnes of products of animal and vegetal origin for 1.9 billion dollars, an increase of 23% in volume and of 26% in revenue regarding the 6.4 million tonnes and 1.5 billion dollars of the same period of 2005, the Senasa phytosanitary watchdog reported Tuesday in Buenos Aires.
Wednesday, January 17th 2007 - 20:00 UTC
Remittances, biggest source of income for many countries

Migrant workers sending money home has become the biggest source of foreign income in some poor European countries, the World Bank has said.
Wednesday, January 17th 2007 - 20:00 UTC
China confirms international reserves above a trillion dollars

China's foreign currency reserves stood at more than one trillion US dollars by the end of 2006, according to official figures from the country's Central Bank.