Economy

• Monday, November 21st 2022 - 10:44 UTC

  Goldfajn chosen new IDB boss

  

  Brazil's Ilan Goldfajn was elected Sunday as the new head of the Interamerican Development Bank (BID), it was reported in Washington DC.

• Monday, November 21st 2022 - 10:26 UTC

  Lacalle Pou to seek Uruguay's joining TPP

  

  Uruguayan President Luis Lacalle Pou announced his country would apply to join the Trans-Pacific Partnership, in a move to have access to more competitive tariffs, which has caused a stir with Mercosur and could jeopardize other negotiations with China, it was reported.

• Monday, November 21st 2022 - 10:13 UTC

  Brazilian 2022 exports of soybean estimated to reach 78 million tons, and corn some 40 million tons

  

  Brazil’s soybean exports are expected to reach 78 million tons this year, 9.3% down from 86.3 million tons in 2021, according to the grain exporters’ association Anec. But the figure is 2.5 million tons higher than the previous 75.5 million tons estimate for full-year soybean shipments.

• Monday, November 21st 2022 - 09:05 UTC

  Mar del Plata union requests lifting of measures banning offshore oil drilling

  

  The Mar del Plata branch of Argentina's General Labor Confederation Union sent a note to the Courts requesting all precautionary measures stopping offshore oil exploration be lifted so that the companies can start working in the North Argentina Basin.

• Saturday, November 19th 2022 - 10:06 UTC

  Economy Minister says Brazil's spending cap poorly constructed

  

  Brazil's Economy Minister Paulo Guedes Friday admitted the spending ceiling needed to be pierced because it was poorly constructed, but he insisted that the federal spending cap remains a necessary tool to ensure the stability of public accounts.

• Saturday, November 19th 2022 - 09:15 UTC

  Slight unemployment drop reported in Uruguay

  

  Uruguay's unemployment rate was reported Friday by the National Statistics Institute (INE) to have stood at 7.8% in the month of October, a slight decrease from September's 8.3%.

• Friday, November 18th 2022 - 09:23 UTC

  UK in recession; Autumn plan anticipates £30 billion in spending cuts and £25 billion in tax hikes.

  

  Chancellor of the Exchequer Jeremy Hunt announced on Thursday a £55 billion fiscal plan with £30 billion in spending cuts and £25 billion in tax hikes. The measures which anticipate a cold winter and long recession in the UK, included an extra two-year freeze on income tax thresholds and a lowering of the top rate of income tax to £125,140

• Friday, November 18th 2022 - 09:17 UTC

  Inflation projections in Brazil lowered yet again

  

  Brazil's Economy Ministry Thursday released its Macrofiscal Bulletin, which showed that inflation for the year 2022 is projected to amount to 5.85%, an improvement from the previous 6.3% forecast.

• Friday, November 18th 2022 - 09:12 UTC

  Argentina granted US$ 125mn loan from IDB

  

  The Inter-American Development Bank (IDB) approved a US$ 125 million loan for Argentina to strengthen the country's agricultural health services and the sustainability of its marine resources, it was announced Thursday.

• Thursday, November 17th 2022 - 19:17 UTC

  No devaluation needed for now in Argentina

  

  The Argentine administration of President Alberto Fernández has been reported to have under its sleeve a strong trade surplus for the month of October with which pressure to devalue the local peso will be deflected, at least for now.