Economy

• Sunday, October 6th 2013 - 06:56 UTC

  IMF raises Uruguay’s 2013 growth estimate but lowers 2014 forecast

  

  The IMF raised its 2013 economic growth forecast for Uruguay, but lowered its estimates for 2014, saying growth had “moderated to a more sustainable pace” after a decade of strong expansion.

• Sunday, October 6th 2013 - 06:40 UTC

  Falklands ‘confident’ about ‘mutually acceptable outcome’ on taxes with oil company

  

  The Falkland Islands Government remains, “confident that a mutually acceptable outcome can be reached with Rockhopper,” on the matter of their tax bill from FIG, confirmed Financial Secretary Nicola Granger last week and indicated the situation would have no impact on local tax laws.

• Friday, October 4th 2013 - 17:05 UTC

  Cristina Fernandez accuses “part of US judiciary” of wanting Argentina to default

  

  Argentine President Cristina Fernandez has accused part of the United States judiciary of wishing to take Argentina “to default”, comparing Argentina’s situation with that which currently faces US counterpart Barack Obama.

• Friday, October 4th 2013 - 07:02 UTC

  IMF warns US debt ceiling controversy is a far worse threat to global economy

  

  IMF managing director Christine Lagarde says failure to raise the US debt ceiling would be a far worse threat to the global economy than the current shutdown. The shutdown is due to a budget standoff between President Barack Obama and Congress. But a worse problem looms: the US will run out of money if there is no agreement to raise the borrowing limit.

• Friday, October 4th 2013 - 07:00 UTC

  “Straight up to the point of extreme idiocy, but we won’t cross it” predicts Buffett

  

  Warren Buffett, the billionaire chairman and CEO of Berkshire Hathaway Inc, said he expects the United States Congress to resolve a stalemate over the US debt ceiling before it seriously harms the country.

• Friday, October 4th 2013 - 06:58 UTC

  Uruguay 2012/13 soybean crop was record in volume, area and yield

  

  Uruguay’s latest soybean crop was the highest in history, 2.76 million tons with an increase in the area planted and in yields according to the latest survey from the Ministry of Agriculture and Livestock. The area dedicated to soybean climbed 20% and reached 1.049.000 hectares.

• Friday, October 4th 2013 - 06:53 UTC

  Argentina credit rating conditioned by poor credibility and unreliable stats, says Moody’s

  

  An upgrade of Argentina’s credit rating depends on the government taking measures to boost data credibility while compensating investors holding defaulted debt and companies for expropriated assets, said Gabriel Torres, Argentina’s sovereign credit analyst at Moody’s Investors Service.

• Friday, October 4th 2013 - 06:47 UTC

  Uruguay’s annual inflation in September reached 9.02%; minister confident it will be brought down

  

  Uruguay’s consumer inflation soared 1.36% over August in September boosted by increases in energy and fuel, transport, milk and other basic items, according to the latest release from INE, the government’s data office. This means inflation in the last twelve months climbed to 9.02% from a month ago (8.86%) and 8.2% in the first nine months of 2013.

• Friday, October 4th 2013 - 06:45 UTC

  European Union considering punitive duties on Argentine bio-diesel

  

  Argentine bio-diesel producers will fight European Union proposals to impose punitive duties on imports from the country, saying the move would remove its biggest export market and raise prices in Europe.

• Thursday, October 3rd 2013 - 21:46 UTC

  Brazil industry production unexpectedly stalls in August

  

  Brazilian industry production unexpectedly stalled in August, as factories reduced the output of consumer goods. Industrial output was unchanged in August after tumbling a revised 2.4% in July, the national statistics agency said in Rio de Janeiro.