Ford Motor Argentina is the latest carmaker to sign an agreement with the government to boost exports to compensate for increased imports. Ford has vowed to boost its export surplus to 90 million USD by 2012, the Economy ministry said in a press release Monday. That follows a deficit of 250 million USD in 2010.
Argentina's trade surplus narrowed 38% in April compared to a year ago with imports increasing far more swiftly than exports, official data showed on Monday.
Standard & Poor's said on Monday it had revised its outlook on Brazil's sovereign credit rating to positive from “stable,” citing the prospect for steady, long-term economic growth.
The best way to cool soaring food prices is to boost output, the Argentine government said, following talks on a French proposal for increased regulation of commodity markets in the framework of a G20 meeting in Buenos Aires.
Mexico central bank Governor Agustin Carstens will be presented as a candidate for managing director of the IMF, the Finance Ministry said in an e-mailed statement Sunday.
The number of Cubans working in the private sector continues to rise and now includes over 300,000 as a result of President Raul Castro government’s economic reforms that have been implemented since last October.
Dollar inflows into Brazil are returning to normal levels, and the Brazilian Real will start to depreciate once interest rates in the US and Europe start to rise, said Brazil Finance Minister Guido Mantega. He also anticipated tax reforms to boost Brazilian competitiveness.
Argentina and Peru are the top recipients of Chilean overseas investments in the service sector according to report released last week covering a two decade period from 1990 to 2010.
Economic activity in Argentina expanded 7.8% in March compared to the same month a year ago and 0.5% over February, according to the provisional percentages from the government’s National Statistics Institute, INE.
Greece’s credit rating was cut on Friday three levels by Fitch Ratings, which said that even a voluntary extension of its bond maturities being studied by EU policy makers would be considered a default.