Economy

Tuesday, April 25th 2023 - 12:57 UTC
“Blue” dollar hits AR$ 462 in Argentina

The “blue” (a euphemism for “black market”) dollar went up another AR$S 20 Monday to close at AR$ 462 and somehow match inflation in other items of the country's economy, which it was lagging.
Monday, April 24th 2023 - 17:02 UTC
Argentine inflation has the country printing money in France, Malta, Spain, China and Brazil

The explosive inflation situation in chaotic Argentina, close to 120% in twelve months, with the CPI at 7,7% in March ( and roaring during the three weeks of April) is showing that the country is incapable of supplying the necessary demand for bills and thus must appeal to the printing in foreign mint houses, of billions of Argentine bills.
Monday, April 24th 2023 - 16:53 UTC
ECLAC downgrades growth estimates to 1,2% this year for Latin America and the Caribbean

New projections released by the United Nations Economic Commission for Latin America and the Caribbean, ECLAC, estimate all sub-regions will experience lower growth this year compared with 2022.
Monday, April 24th 2023 - 16:32 UTC
Moscow warns Ukraine's Black Sea “export channel” conditioned by West obstacles to Russian trade

Moscow warned that the outlook for extending a deal beyond May 18 that allows the safe wartime export of grain and fertilizer from several Ukrainian Black Sea ports was “not great” as Russia’s own such exports still faced obstacles.
Monday, April 24th 2023 - 10:59 UTC
Brazilian official says Mercosur-EU deal may be closed this year

Márcio Elias, executive secretary of Brazil's Ministry of Development, Industry, Trade, and Services, said Sunday that the federal government intends to close the free trade agreement between Mercosur and the European Union this year.
Saturday, April 22nd 2023 - 10:54 UTC
Argentina: How did the President's announcement hit the foreign exchange market?

President Alberto Fernández's announcement Friday that he would not seek reelection this year triggered the US dollar further up against the Argentine peso, reaching AR$437 / AR$442 (buy/sale) at the “blue” (a euphemism for “black market”) exchange rate. Meanwhile, the official rate stood at AR$217/AR$225 (buy/sale), for a gap of 102.26% between the two quotations.
Saturday, April 22nd 2023 - 10:41 UTC
Uruguayan banks and transport announce 24-hour strike for when?

Uruguayan public transport drivers and bank clerks will stage a 24-hour nationwide strike to protest against President Luis Lacalle Pou's attempt to reform the country's pension system and increase the retirement age, which is causing concern, particularly when such a move was something the head of state had vowed during his campaign that he would not seek.
Friday, April 21st 2023 - 10:08 UTC
Except for Argentina, the ECLAC study highlights that in the region “inflationary pressures have slowed down”

According to an ECLAC (Economic Commission for Latin America and the Caribbean: an organization of the United Nations that supports trade and economic growth in Latin America and the Caribbean) study released Thursday, Latin America's growth for the year 20023 was forecast to be averaging 1.2%.
Friday, April 21st 2023 - 10:05 UTC
Argentine peso keeps sinking against US dollar

The Argentine peso kept sinking Thursday against the US dollar with the “blue” (a euphemism for “black market”) rate hitting AR$ 440 before closing at AR$ 437/AR$ 432 (buy/sale).
Thursday, April 20th 2023 - 10:23 UTC
How far up did the US dollar go Wednesday against the Argentine peso?

Argentine Economy Minister Sergio Massa seems unable to find a way out of the country's current crisis. In this scenario, the “blue” dollar (a euphemism for “black market”) rose five more pesos Wednesday to close at AR$ 423 as the Central Bank (BCRA) ended with a negative balance of US$197 million, this bringing a streak of six positive rounds to an end. The country risk remained at 2,474 basis points, according to JP Morgan's index.