Economy

• Thursday, September 21st 2023 - 20:23 UTC

  In a tight vote, Bank of England leaves interest rates unchanged, still the highest for 15 years

  

  The United Kingdom interest rates were left unchanged after the Bank of England said price rises were slowing faster than expected. Interest rates were held at 5.25%, already their highest for 15 years, and comes after figures on Wednesday revealed an unexpected slowdown in inflation in August.

• Thursday, September 21st 2023 - 10:58 UTC

  Unemployment falls in Argentina in 2Q, Indec says

  

  Argentina's National Institute of Statistics and Census (Indec) released a report Wednesday showing that unemployment fell to 6.2% of the labor force in the second quarter of 2023, an improvement from the 6.9% recorded between January and March.

• Wednesday, September 20th 2023 - 13:18 UTC

  UK will have the highest inflation this year among G7 members, OECD report

  

  Growth in the global economy is expected to remain “sub-par” next year, according to the Organization for Economic Cooperation and Development (OECD) which cut its forecast for 2024 from 2.9% to 2.7% on Tuesday.

• 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.