Economy

• Wednesday, January 18th 2012 - 05:16 UTC

  Brazil plans to further fund the Development bank anticipating credit crunch

  

  Brazil is considering injecting more funds to the National Development bank, BNDES for the fifth year running in anticipation of a possible shortage of long term credit in the economy, said Arno Augustin, Secretary of the Treasury.

• Wednesday, January 18th 2012 - 05:12 UTC

  Drought emergency in central Argentina and Paraguay but no sufficient rains on sight

  

  Argentine corn and soy farms will suffer from hot weather and scant rains for the rest of this week, forecasters said on Tuesday, increasing worries that crop losses will eat into global supplies.

• Wednesday, January 18th 2012 - 03:20 UTC

  Rating agencies forecast Greece’s default…but in an orderly manner

  

  Like in Colombian Nobel Prize Gabriel Garcia Marquez novel “Chronicle of a Death Foretold” Fitch rating agency said on Tuesday that Greece would default on its debt, although it anticipated that such a default was likely to take place in an orderly manner.

• Wednesday, January 18th 2012 - 03:13 UTC

  Argentine defaulted bonds dispute reaches the US Supreme Court

  

  The US Supreme Court has asked President Barack Obama's administration for its views of a ruling that unfroze 105 million dollars of Argentina's central bank deposits in a setback for two US investment funds that sought to seize the money to satisfy their claims from Argentina’s debt default a decade ago.

• Wednesday, January 18th 2012 - 02:38 UTC

  Colombia aims to become Latam third largest economy by 2015

  

  Colombia aims to be Latin America's third largest economy after Brazil and Mexico by 2015, said the country's trade minister this week during a business conference in Madrid.

• Tuesday, January 17th 2012 - 07:00 UTC

  Brazil economy rebounds in November boosted by domestic consumer spending

  

  Brazil’s economy grew at its fastest pace in 19 months in November, reversing a three-month contraction, as a recovery in consumer spending helped Latin America’s largest economy shrug off a global slowdown. Yields on interest rate futures rose.

• Tuesday, January 17th 2012 - 06:48 UTC

  Brazil and FIFA try to solve differences ahead of the 2014 World Cup

  

  Brazil had been demanding too much in negotiating the conditions for hosting the 2014 World Cup but a legal dispute should be settled within days, FIFA said on Monday.

• Tuesday, January 17th 2012 - 06:44 UTC

  S&P downgrades the European Stability Facility but willing to reconsider

  

  Credit ratings agency Standard and Poor’s downgraded the European Financial Stability Facility (EFSF) from “AAA” to “AA+,” although it does not rule out it would increase it again if it bolsters its funds, according to a communiqué released on Monday.

• Monday, January 16th 2012 - 03:55 UTC

  Brazil prepares for primary surplus target with a start of the year spending freeze

  

  The size of an annual start-of-year spending freeze that the Brazilian government is set to announce by early February will offer hints on how far President Dilma Rousseff and her economic advisers want to cut interest rates.

• Monday, January 16th 2012 - 02:45 UTC

  Argentine government and farmers clash over drought emergency support

  

  As extreme drought conditions punish Argentina’s crops throughout the country farmers’ organizations are at loggerheads with the government of President Cristina Fernandez, which is refusing to increase the emergency fund for such situations and to alleviate the tax burden.