Economy

• Wednesday, September 20th 2023 - 08:17 UTC

  Tories handing out cost of living winter support for millions of low income British households

  

  Millions of low-income British households will receive the next installment of cost-of-living payments between 31 October and 19 November. Eight million people on means-tested benefits, such as Universal Credit, will receive £300 directly, without the need to make a claim. It is the second of three installments that will eventually total £900.

• Friday, September 15th 2023 - 11:30 UTC

  Massa announces VAT refunds and raffles to boost Argentina's economy

  

  Argentina's Economy Minister and presidential candidate Sergio Massa Thursday announced a refund of the VAT paid on basic food basket items for 9 million workers. In a move to discourage unregistered transactions, he is willing to raffle cars and household appliances for retailers and customers, it was explained.

• Friday, September 15th 2023 - 11:10 UTC

  Drought strikes: Uruguay's economy shrinks by 2.5% in Year-on-Year analysis

  

  The Central Bank of Uruguay has unveiled concerning economic data, revealing a 2.5% year-on-year decline in the country's Gross Domestic Product (GDP) for the second semester of 2023. The figures, released on Thursday, shed light on the adverse effects of the drought on Uruguay's economic landscape.

• Thursday, September 14th 2023 - 11:54 UTC

  As with soybeans and corn, Brazil ready to unseat US as world's top cotton exporter

  

  As with other crops, Brazil is close to unseating the US to become the world’s biggest cotton exporter as Texas, America’s top-producing region, buckles under searing heat and drought.

• Thursday, September 14th 2023 - 10:47 UTC

  Paraguay said to have recognized Argentina's right to charge tolls along Paraná Waterway

  

  Argentina's Energy Secretary Flavia Royon said Wednesday that Paraguay had recognized her country's right to charge a fee (toll) to barges sailing along the Parana River Waterway and that the issue at this point was to discuss the price, for which a technical commission will be instated to assess the crossed claims between the neighboring countries for debts related to the Yacyretá Binational Entity (EBY).

• Thursday, September 14th 2023 - 10:15 UTC

  Argentina: August's inflation hits 12.4%

  

  Argentina's National Institute of Statistics and Census (Indec) announced Wednesday that inflation for the month of August had reached 12.4% for a total of 124.4% in the last 12 months. The highest monthly rate in over 32 years came after the Aug. 14 devaluation of the Argentine peso. So far in 2023, the Consumer Price Index has accumulated an increase of 80.2%.

• Thursday, September 14th 2023 - 10:09 UTC

  Peru to allocate green debt swap to tropical forest protection in Amazon

  

  The Peruvian administration of President Dina Boluarte pledged to use the proceeds from a US$ 20 million debt swap with the United States for climate action in the Amazon to finance a tropical forest protection fund over the next 13 years, it was reported Wednesday in Lima. It is the third debt-for-nature swap between the two governments.

• Tuesday, September 12th 2023 - 10:00 UTC

  China foreign trade remains sluggish with world demand weak

  

  China’s exports and imports sank again in August, data showed, as the world’s second-largest economy struggles with sluggish global demand and a wider slowdown. However, the pace of contraction slowed from the previous month and was not as bad as feared.

• Friday, September 8th 2023 - 10:51 UTC

  Argentina: Export taxes lifted from industrialized agriculture products

  

  Argentina's Economy Minister and presidential candidate Sergio Massa Thursday announced the lifting of all export taxes to the sales abroad of regional economy products with added value, it was reported in Buenos Aires. The measure favors the agro-industrial sector which features over 1,200,000 registered workers.

• Friday, September 8th 2023 - 10:01 UTC

  Investments That Pay Off: Latin America’s Response to Recent Global Shocks

  

  By Rodrigo Valdes, IMF Director of the Western Hemisphere Department
  
  The region, which successfully navigated economic turmoil, now must boost inclusive growth, reduce debt, and capitalize on new opportunities. Praise for policies implemented by the LA5 Brazil, Chile, Peru, Colombia, Mexico and also Uruguay, Dominican Republic, Paraguay and Costa Rica.