Economy

• Monday, August 4th 2014 - 07:41 UTC

  Trying to gauge the impact of Argentina's situation in Mercosur partners

  

  Argentina’s debt problems threatens to worsen trade tensions in Mercosur, adding to the economic woes of Brazil in a tense election year and causing headaches in Uruguay as the Argentine economy looks likely to plunge deeper into recession.

• Monday, August 4th 2014 - 07:34 UTC

  Debt ruling shows a callous disregard to the effects on Argentina

  

  By Eileen Appelbaum (The New York Times) - There is no way to construe as fair the United States court ruling that Argentina cannot pay 93% of its creditors, unless it first pays a small group of hedge funds. It's not fair to the 93% of bondholders who negotiated a restructuring of Argentina’s debt in 2005 and 2010 with reduced payments.

• Monday, August 4th 2014 - 07:27 UTC

  Argentina awarded by the EU beef 'feed-lot quota' of 48.200 tons

  

  The European Union (EU) has recognized Argentina as one of the few countries able to export high-quality beef under the “feed-lot quota” to the European market, a press release from the Argentine Foreign Ministry informed on Sunday.

• Monday, August 4th 2014 - 07:16 UTC

  Brazilian auto industry drops 36% in June and drags industrial output

  

  Brazil's industrial output fell 6.9% in June compared to the same month last year, mostly due to a contraction of the automobile industry, reported the official stats office last Friday.

• Monday, August 4th 2014 - 07:09 UTC

  Malvinas war and the 2001 and 2014 defaults, Argentina's worst mistakes in 33 years

  

  The Falklands/Malvinas war, the 2001 default and the 2014 default are “the three events that are going to go down, in recent Argentina history, as the three worst strategic mistakes committed by the country”, according to political analyst and historian Rosendo Fraga.

• Monday, August 4th 2014 - 07:03 UTC

  Magallanes with lowest unemployment rate in Chile, but quality of jobs is questioned

  

  Unemployment in the extreme south Chilean region of Magallanes was the lowest in the country during the April/June quarter, 2.3%, according to the latest report from the country's stats office, INE. This is 0.5 percentage points less than the previous quarter and 1.4 percentage points below a year ago.

• Monday, August 4th 2014 - 06:55 UTC

  GeoPark has plans to drill 35 exploratory wells in Chilean Tierra del Fuego by end of 2014

  

  Oil and gas explorer GeoPark expects to end the year having drilled 35 wells in Chilean Magallanes and Tierra del Fuego, which must be added to the 560 million dollars the company has invested in the region since it began operations in 2006, said the company in an economic impact report presented by consultants Gemines.

• Sunday, August 3rd 2014 - 13:22 UTC

  “Argentina Finds Relentless Foe in Paul Singer’s Hedge Fund”

  

  The following article by Peter Eavis and Alexandra Stevenson was published in The New York Times and addresses the current litigation between Argentina and the speculative funds. The hedge fund firm of billionaire Paul E. Singer has about 300 employees, yet it has managed to force Argentina, a nation of 41 million people, into a position where it now has to contemplate a humbling surrender.

• Saturday, August 2nd 2014 - 09:18 UTC

  “Debt restructuring” and the Argentine case by Joseph Stiglitz

  

  The following piece published in The New York Times was written by Joseph E. Stiglitz, winner of the Nobel Prize in Economics and a former chief economist of the World Bank, and currently a professor at Columbia University.

• Saturday, August 2nd 2014 - 09:08 UTC

  IDSA decides that Argentina “failed to pay” and thus declares it has defaulted

  

  The International Swaps and Derivatives Association (ISDA) on Friday declared Argentina in default, which could trigger payments worth up to one billion dollars on credit default swaps.