Economy

• Friday, September 20th 2024 - 09:34 UTC

  Unemployment keeps growing in Argentina

  

  According to a report from Argentina's National Institute of Statistics and Census (Indec), unemployment in the South American country reached 7.6 % in the second quarter of 2024. The figures were consistent with the 7.7% recorded in the previous trimester but represented a sharp interannual deterioration from the 6.2% during the same period of 2023.

• Thursday, September 19th 2024 - 08:00 UTC

  Brazilian central bank raises Selic rate to 10,75%, fearing inflation resurgence

  

  While the United States Federal Reserve decided to cut its reference interest rate arguing inflation was under control, Brazil's Central Bank decided the opposite and actually hiked 25 bases point its already high Selic benchmark from 10,50% to 10,75%.

• Thursday, September 19th 2024 - 07:35 UTC

  Bank of England decides on interest rate; UK August consumer inflation, 2,2%

  

  Consumer inflation in UK during August remained at an annual 2,2%, helped by lower fuel prices together with hotels and restaurant services, as reported by the Office of National Statistics, ONS Wednesday.

• Wednesday, September 18th 2024 - 08:02 UTC

  Argentine grain exports have to be completed in the Atlantic because of insufficient draft along the Parana waterway

  

  With the Parana crucial waterway again beginning to suffer the consequences of lack of a sufficient water level, making the loading of cereals and oil seeds at the main Argentine exporting port of Rosario, it is estimated that in the remaining months of the year, Bahía Blanca directly on the Atlantic will be receiving probably half a million tons of additional grains to dispatch.

• Wednesday, September 18th 2024 - 08:00 UTC

  Brazil/China peace plan, rejected by Kiev, considered a chance by Russia

  

  Brazil has positioned itself as neutral in the Ukraine war, refusing to join sanctions or provide military aid to Kiev, while proposing a peace initiative in cooperation with China. The joint Brazil/China peace plan or at least to end hostilities, has been defined by Ukrainian president Zelensky as “destructive”.

• Monday, September 16th 2024 - 10:01 UTC

  Milei launches “zero deficit” budget bill for 2025

  

  Argentine President Javier Milei appeared before Congress Sunday to submit the 2025 budget bill foreseeing an exchange rate of AR$ 1,207 against the US dollar and annual inflation reaching 18.3% after a projected Gross Domestic Product (GDP) growth.

• Friday, September 13th 2024 - 21:39 UTC

  Aerolíneas Argentinas strike leaves 37,000 passengers stranded

  

  Flag carrier Aerolíneas Argentinas had to cancel 319 flights Friday, altering the travel plans of some 37,000 passengers, as a result of a joint strike carried out by the airline industry labor groupings representing either pilots or crewmembers.

• Friday, September 13th 2024 - 07:23 UTC

  European Central Bank cuts basic interest rate 0.25 percentage points to 3,5%

  

  While inflation in the Euro zone was down to 2,2% in August, and with sliding tendency, plus a lack of growth reaction from the economy, the European Central Bank, ECB, on Thursday decided to cut interest rates by another 0.25 percentage points to 3,5%.

• Thursday, September 12th 2024 - 23:07 UTC

  New IMF chief negotiators leave Libertarian gov't reassessing the turf

  

  After Thursday's announcement that International Monetary Fund (IMF) Western Hemisphere Director Rodrigo Valdés would no longer be handling the negoatiations between the global credit agency and the Government of Argentina, there were mixed feelings at Casa Rosada Friday. It was first a diplomatic victory for President Javier Milei, who had repeatedly spoken about Valdés' alleged animosity against Buenos Aires.

• Wednesday, September 11th 2024 - 23:02 UTC

  Argentina: Indec says inflation in August reached 4.2%

  

  Argentina's Consumer Price Index (CPI) for the month of August went up 4.2%, the National Institute of Statistics and Census (Indec) announced Wednesday. The new figure represented a setback from July's 4% and a 236.7% interannual increase. So far in 2024, inflation reached 94.8%.