Economy

Thursday, August 17th 2023 - 11:46 UTC
“Blue” dollar rises AR$ 50 in one day

The “blue” (a euphemism for “black market”) dollar reached a new all-time-high Wednesday in Argentina and closed at AR$ 780 after hitting AR$ 800 at some point during the day, it was reported in Buenos Aires. On Tuesday it traded at AR$ 730 after Monday's 22% devaluation which drove it from AR$ 600 on Friday. It traded at AR$346 at the end of 2022.
Thursday, August 17th 2023 - 10:57 UTC
“Unprecedented declines” in Chilean wine exports: China and UK worst cases

Chile reported in the first half of 2023 “unprecedented declines” in wine exports, totaling 20 million boxes and 584 million dollars, which represents a 24% decrease in both volume and value compared to the same period last year, according to Wines of Chile.
Thursday, August 17th 2023 - 10:54 UTC
Brazilian export sectors concerned with the political and financial situation in Argentina

The deteriorating Argentine political and financial situation is already affecting some sectors of the Brazilian economy. Representatives from associations linked to manufactured products reported a decline in exports this year. They expressed concern over potentially worsening shipment figures until December when Argentines will decide on the country’s new president.
Thursday, August 17th 2023 - 09:07 UTC
Petro announces Colombia will renegotiate FTA with US

Colombian President Gustavo Petro Urrego announced Wednesday that his country had started renegotiating with the United States the Free Trade Agreement (FTA) between the two countries in force for the past eleven years.
Thursday, August 17th 2023 - 08:31 UTC
Milei announces virtual meeting with IMF

Argentine presidential hopeful Javier Milei of La Libertad Avanza Wednesday confirmed he would be holding a virtual conference with International Monetary Fund (IMF) authorities on Friday. The single most-voted candidate in last Sunday's Open, Mandatory, and Simultaneous Primary (PASO) elections said he would be joined by his “economic council.”
Wednesday, August 16th 2023 - 11:48 UTC
Argentina: July's inflation reported at 6.3%

Argentina's National Institute of Statistics and Census (Indec) announced Tuesday that the variation in the Consumer Price Index (CPI) for the month of July of 2023 was 6.3% for a total of 60.2% in the first seven months of the year and 113.4% interannually, it was reported in Buenos Aires.
Wednesday, August 16th 2023 - 11:40 UTC
Milei ready to take over in case of President's early departure from office

Libertarian Congressman Javier Milei, who was the most-voted candidate in Sunday's Open, Mandatory, and Simultaneous Primary (PASO) elections, said he was ready to take over the helm at Casa Rosada at once should President Alberto Fernández and his constitutional successors step down ahead of the Dec. 10 schedule.
Wednesday, August 16th 2023 - 11:33 UTC
Russia/Ukraine conflict, ruble collapses and Moscow forced to hike interest rate

Russia's 's central bank hiked its key interest rate to 12% on Tuesday. The 3.5 percentage point rise represents a bid to fight high inflation and the sharp depreciation of the country's currency against the US dollar.
Wednesday, August 16th 2023 - 11:28 UTC
Bi-oceanic project linking Brazil with the Pacific and crossing Paraguay is rapidly advancing

A key project to connect the ports of the Brazilian Atlantic with those of the Chilean Pacific, crossing Paraguayan territory is rapidly advancing.
Wednesday, August 16th 2023 - 11:22 UTC
Sanguinetti underlines Peña's position on Mercosur

Two-time former Uruguayan President Julio María Sanguinetti Tuesday praised Paraguayan President Santiago Peña's stance regarding the Southern Common Market (Mercosur), which would need a major overhaul. Paraguay, a major world food producer but landlocked, is a member of Mercosur along with Argentina, Brazil, and Uruguay.