Economy

Saturday, August 26th 2023 - 19:18 UTC
Chilean economy in recession: declines in consumption and investments

Chile’s economy has contracted for three consecutive quarters, with significant weakness in household consumption and decline in investments. The last negative figure was reported last week by the Central Bank, showing GDP contracted by -1.1% over the same period between April and June 2023. previous year.
Saturday, August 26th 2023 - 19:03 UTC
China insists in taking over Rio Grande port in Patagonia as established in a MoU with Tierra del Fuego

One of Buenos Aires' main dailies, La Nacion, is reporting that China will not back down from its port plan in Patagonia, as promised by the regional and national governments. In early June, Argentine Governor of Tierra del Fuego Gustavo Melella revived an old controversy concerning a deal with a Chinese company to build a multipurpose port in Rio Grande
Saturday, August 26th 2023 - 18:56 UTC
Brazil assessing risks and reactions from a sustained slowdown of China's economy

The slowdown of the Chinese economy, where Brazil shipped 30% of its exports in the first seven months of the year are underscoring the nation’s substantial vulnerability to the fluctuations in the Asian giant, and President Lula da Silva electoral promises of a quick recovery to his followers.
Saturday, August 26th 2023 - 16:44 UTC
Main opposition candidates against Argentina joining BRICS

Libertarian Congressman and Presidential candidate Javier Milei Thursday rejected Argentina joining the BRICS on the ground that “I will not promote a deal with Communists.”
Thursday, August 24th 2023 - 11:46 UTC
Argentina is invited to join BRICS along with six other countries

The BRICS group, consisting of Brazil, Russia, India, China, and South Africa, has announced its plan to expand its membership by adding six new countries, including Argentina. The decision was revealed during a press conference jointly conducted by South African President Cyril Ramaphosa and leaders from the existing BRICS nations.
Thursday, August 24th 2023 - 11:00 UTC
Paraguay reforms Finance Ministry

Paraguayan President Santiago Peña Wednesday signed into law a bill suppressing the Finance Ministry and creating a Ministry of Economy and Finance instead, it was reported in Asunción. The motion had been passed by the Lower House earlier this month.
Thursday, August 24th 2023 - 10:58 UTC
IMF Board approves US$ 7.5 bn disbursement for Argentina

The International Monetary Fund's (IMF) board of directors Wednesday approved a US$ 7.5 billion disbursement for Argentina, the South American country's Economy Minister and presidential candidate Sergio Massa announced from Washington DC. The decision was adopted unanimously, it was also explained.
Wednesday, August 23rd 2023 - 10:56 UTC
Massa gets loans from IDB and WB ahead of IMF meeting

The Inter-American Development Bank (IDB) and the World Bank (WB) will grant Argentina additional financing of US$ 1,300 million, Economy Minister and presidential candidate Sergio Massa announced Tuesday from Washington DC.
Wednesday, August 23rd 2023 - 10:56 UTC
Uruguayan unions go on strike, again demanding shorter working hours and wage increases

Uruguay's trade union central, the PIT-CNT, carried out this Tuesday a partial four-hour strike with a mobilization, in which it again called for a law to reduce the working day from 48 to 40 hours a week.
Wednesday, August 23rd 2023 - 10:55 UTC
Argentina: Sharp drop in mass consumption reported

Private studies released Tuesday in Buenos Aires showed a 16.1% drop in mass consumption in the first week of August, which further aggravated July's 15.8%, the Buenos Aires daily La Prensa reported.