Economy

Thursday, April 19th 2012 - 04:59 UTC
Brazil lowers basic rate to 9%, sixth straight reduction and more could come

Brazil lowered its benchmark interest rate to a near-historic low of 9% on Wednesday, as expected, but the central bank surprised with hints that more cuts may follow to revive Latin America's largest economy.
Wednesday, April 18th 2012 - 22:44 UTC
Colombia protests before WTO Argentina’s trade restrictions

Colombia has sent a letter to the World Trade Organization protesting Argentina's import restrictions on its products, the government announced Wednesday.
Wednesday, April 18th 2012 - 08:30 UTC
Debts and environmental cleanup to subtracted from YPF compensation says Argentina

Argentina accused Spain's Repsol oil company on Tuesday of hiding the true value of its Argentine YPF unit and said a thorough review of its books after seizing control of its offices will affect the compensation paid to its shareholders.
Wednesday, April 18th 2012 - 08:26 UTC
Fitch places Repsol on Rating Watch Negative following the YPF takeover operation

Fitch Ratings has placed Repsol YPF, SA's ratings on Rating Watch Negative (RWN) following news that YPF takeover has been set in motion by the Argentine government.
Wednesday, April 18th 2012 - 08:23 UTC
Brazilian economy set to grow 3%, but with risks of overheating, says IMF

The Brazilian economy is set to grow 3% in 2012 after the modest 2.7% of last year, but following the relaxation of monetary policy it runs the risk of ‘overheating’, according to the IMF World Economic Outlook, WEO.
Tuesday, April 17th 2012 - 20:04 UTC
IMF estimates less growth (3.5%) and higher prices (7.4%) for Uruguay in 2012

Uruguay growth estimate has been downed for 2012 while prices will be higher, according to the latest IMF World Economic Outlook released on Tuesday. The economy is set to grow 3.5% down from 4.2% while prices will climb to 7.4% compared to the 6.5% estimate of the previous WEO last September.
Tuesday, April 17th 2012 - 07:07 UTC
Mexico appeals to CFK: nobody in its right mind invests in countries that expropriates

Mexican president Felipe Calderón and G-20 group head, said that Argentina’s plan to seize a majority stake in Repsol’s Argentine branch YPF is “very regrettable” and called on President Cristina Fernandez to reconsider and rectify the decision.
Tuesday, April 17th 2012 - 03:43 UTC
US/Brazil discuss energy cooperation and closer economic ties even free trade agreement

Cooperation in energy development, closer economic ties including a free trade agreement and praise for Brazil’s economic and political leadership were some of the issues discussed by visiting US Secretary of State Hillary Clinton during her first day of meetings with Brazilian officials.
Tuesday, April 17th 2012 - 03:38 UTC
US on YPF takeover: ”Having an open competitive market is a preferable model”

US Secretary of State Hillary Clinton said Argentina will have to justify and assume the responsibilities of its decision regarding the YPF dispute between Argentina and Spain, but at the same time defended models that include competition and market access.
Tuesday, April 17th 2012 - 03:07 UTC
Colombia reaps from the summit: free trade agreement with US becomes effective in May

The US-Colombia free trade agreement will enter into force next month, far earlier than expected, as a result of what the Obama administration called “historic” progress for Colombian worker protections and human rights.