Economy

• Wednesday, January 22nd 2014 - 17:10 UTC

  Argentina imposes strict controls on buying on line

  

  Argentines buying online must now submit a statement to the tax agency, AFIP, before they can receive the goods at the Post Office, as the government seeks to make such purchases more expensive and help curb capital flight.

• Wednesday, January 22nd 2014 - 11:43 UTC

  Rosier forecast from the IMF, but deflation remains a risk for richer nations

  

  The International Monetary Fund has raised its global growth forecast for the first time in nearly two years, saying fading economic headwinds should permit advanced nations to pick up the mantle of growth from emerging markets.

• Wednesday, January 22nd 2014 - 11:29 UTC

  Uruguay warns trade negotiations with EU could leave “a Mercosur member out”

  

  Uruguayan foreign minister Luis Almagro said it should not come as a surprise if the negotiations for a trade agreement between Mercosur and the European Union does not include all four original full members and leaves one out, although the objective is for all members to be part of the accord.

• Tuesday, January 21st 2014 - 15:43 UTC

  Argentina in France trying to work out a debt deal with the Paris Club

  

  Desperately credit-short Argentina outlined on Monday its conditions for repaying some 9.5 billion dollars in debt to the Paris Club, a senior official at the group of creditor nations said, as the government of President Cristina Fernandez seeks to revive long-stalled talks. Argentina's international reserves have fallen to its lowest level since 2006.

• Tuesday, January 21st 2014 - 15:24 UTC

  Mujica says Mercosur is 'seriously impaired” and admits resignation in relations with Argentina

  

  Uruguayan president Jose Mujica said that Mercosur is “seriously impaired” but it also has its strong points, and the fact Paraguay resumes full membership is very positive. Mujica was interviewed by a government financed newspaper, La República and again referred to the postponed Mercosur summit and the deteriorated relations with Argentina.

• Tuesday, January 21st 2014 - 14:55 UTC

  Argentina and Brazil with the largest and fastest growing fiscal pressure in Latam

  

  Argentina’s tax revenue was at last count the largest and fastest growing in the region, the UN Economic Commission for Latin America and the Caribbean (ECLAC) revealed on Monday. At 37.3%, the latest tax revenue-to-GDP data put Argentina ahead of Brazil, with tax revenue worth 36.3% of its GDP in 2012 — and a few percentage points above the average for OECD countries at 34.6%.

• Monday, January 20th 2014 - 22:26 UTC

  New body to regulate Libor; several big league banks fined for rate-rigging

  

  A new body has been appointed to administer Libor - the London Interbank Offered Rate. A subsidiary of the Intercontinental Exchange Group (ICE), a global network of exchanges and clearing houses, has been appointed to ensure Libor cannot be rigged by banks again.

• Saturday, January 18th 2014 - 06:39 UTC

  US dollar approaching the 12 Pesos mark in Argentina

  

  The US dollar in Argentina reached a new record on Friday at the end of nerve racking week which saw the greenback in the parallel market climb another 40 cents and close at 11.90 and 11.95 Pesos purchase and sale prices. During the week the US dollar soared 1.15 Pesos, and closed the week with a gap of 75.6% between the official dollar exchange and the 'blue' dollar.

• Saturday, January 18th 2014 - 05:55 UTC

  Dairy values and meat peaked in 2013 according to FAO Food Price Index

  

  The FAO Food Price Index averaged 206.7 points in December 2013, nearly unchanged from November, as a sharp increase in dairy prices and firming meat values largely balanced out a steep decline in sugar quotations and lower cereal and oil prices.

• Saturday, January 18th 2014 - 05:50 UTC

  Global cereal production in 2013 and outlook revised upward, says FAO

  

  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.