Economy

• Wednesday, October 9th 2013 - 05:28 UTC

  IMF forecasts higher growth for Argentina this year, but reliability of official stats remains controversial

  

  Argentina’s growth has recovered because of an abundant crop but economic activity continues to be contained because of the exchange rate and other administrative controls, according to the IMF latest World Economic Outlook (WHE), Latam and Caribbean chapter released on Tuesday. The IMF statement refers to Argentina’s export duties and the so called ‘dollar clamp’ which bans even saving in US dollars.

• Wednesday, October 9th 2013 - 05:25 UTC

  Lower commodity prices and poor infrastructure cut Latam growth prospects says IMF

  

  The International Monetary Fund on Tuesday cut its economic growth forecast for Latin America and the Caribbean, blaming, at least in part, poor infrastructure and lower commodity prices. In its latest World Economic Outlook report, the IMF noted that emerging markets generally were facing a dampening of growth amid “less supportive external conditions and domestic supply-side constraints.”

• Tuesday, October 8th 2013 - 18:32 UTC

  IMF forecasts sluggish expansion in developing world; trims global output estimate

  

  The International Monetary Fund trimmed its forecasts for global output for the sixth time since early last year, saying stronger growth in most advanced economies would fail to make up for a more sluggish expansion in the developing world

• Tuesday, October 8th 2013 - 18:20 UTC

  Brazil car output and sales drop in September following on a strong August

  

  Brazil's car output and sales dropped in September from August, adding to signs of economic weakness in the third quarter after a surprisingly good start to the year. Automobile production in Brazil dropped 2.5% and sales fell 5.9% in September from August, the national automakers' association Anfavea said

• Tuesday, October 8th 2013 - 18:15 UTC

  Brazil limits Chinese state-controlled companies to joint bidding for largest offshore oil prospect

  

  Brazil is limiting Chinese state-controlled oil companies to joint bids to develop its largest offshore oil discovery, amid concerns the players could share data and reduce competition ahead of the 21 October auction, said Brazilian officials.

• Tuesday, October 8th 2013 - 06:29 UTC

  US Fed issues the new hi-tech 100 dollar bill with 3D security ribbon

  

  The US Federal Reserve has issued a new hi-tech 100 dollar banknote comprising several new security features. It includes a blue 3D security ribbon and a bell and inkwell logo that authorities say are particularly difficult to replicate.

• Monday, October 7th 2013 - 17:45 UTC

  FAO food price index in September down 5.4% since the beginning of the year

  

  The FAO Food Price Index averaged 199.1 points in September 2013, 2.3 points (1%) below its August value and down 11 points (or 5.4%) since the beginning of the year. The decline in September marked the fifth consecutive decrease in the value of the index and was driven by a sharp fall in the international prices of cereals, whereas prices of all other components of the index, namely dairy, oils, meat and sugar, rose slightly.

• Monday, October 7th 2013 - 15:42 UTC

  Breathing space for Argentina’s bonds case: litigation continues at US appeals court level

  

  The U.S. Supreme Court left intact a ruling that may force Argentina to make payments on defaulted government bonds, rejecting that country’s appeal in a clash that has roiled its financial markets. The justices, without comment, on Monday let stand a 2012 U.S. appeals court decision that bars Argentina from making payments on 24 billion in restructured debt unless it also pays owners of the earlier repudiated bonds.

• Monday, October 7th 2013 - 14:46 UTC

  Brazilian push to attract more tourists taking advantage of 2014 World Cup

  

  Brazilian tourism officials say that the country has stepped up efforts to lure more foreign tourists as Brazil gears up to host 2014 World Cup. Tourist board Embratur said September had seen a major publicity push worldwide, including promotions at the just-ended Japan Association of Travel Agents (JATA) showcase in Tokyo, as well as across North America and Russia.

• Sunday, October 6th 2013 - 07:01 UTC

  UPM conflict: Argentine protestors will not be allowed to cross to Uruguay, warn officials

  

  Residents from Gualeguaychú, Argentina confirmed that on Sunday they will attempt crossing an international bridge to Uruguay to protest the production expansion of the pulp mill Botnia/UPM, authorized by the government of President Jose Mujica. This despite the fact Uruguayan officials anticipated that at the most “eight or nine” Argentine officials and representatives from the protestors will be allowed to meet with their Uruguayan counterparts to discuss the situation.