The European Union and Mercosur have a clear commitment to advance trade negotiations and conclude a deal, if possible, by the end of the year, if not at the beginning of next year when Argentina will again hold the rotating chair of the South American group.
Uruguay's economy minister said the country had no concrete plan to issue new debt because it had already covered 2011 obligations and debt servicing costs will fall in 2012. Nevertheless he complained about the “poor treatment” of Uruguay by the risk rating agencies.
Brazil’s credit rating was raised one level by Fitch Ratings, which cited the economy’s growth prospects and budget policy under President Dilma Rousseff.
International Monetary Fund (IMF) staff arrived Monday at Argentina’s Statistics Bureau, Indec headquarters in Buenos Aires to meet with its chief Ana María Edwin and its Director Norberto Itzcovich and begin the elaboration of a new cost of living index.
United States will reach its 14.29 trillion US dollars legal debt limit no later than May 16 unless Congress acts before then, Treasury Secretary Timothy F. Geithner said on Monday warning of “severe hardship” if lawmakers fail to act.
Oil climbed to the highest level in 30 months in New York on Monday on speculation that US economic growth may support demand and a protracted conflict in Libya will curtail supply.
Brazilian mining giant Vale, the world's biggest producer of iron ore, has chosen a new chief executive. Former Vale executive Murilo Ferreira will return to the company on 22 May.
Uruguayan president Jose Mujica ratified this weekend before 1.200 businesspeople that his administration will keep the course and ‘reliability’ of the current economic policy, although this will not impede “changes that may surface consequences of the moment”.
Paraguay’s 2010/11 soy bean crop covers 2.830.000 hectares (twice the area ten years ago) and the expected yield is between 2.900 and 3.100 kilos per hectare according to the latest satellite pictures in hands of the Paraguayan Chamber of Grains and Oilseed Exporters, Capeco.
So far the record yield dates back to 2003 with a national average of 2.915 kilos.
The United Nations Food and Agriculture Organization, FAO called for veterinary and border control authorities in Asia to be on alert for animals showing signs of Foot and Mouth Disease, FMD. The request follows on South Korea’s culling millions of livestock and vaccinating millions more to stop the spread of FMD, while North Korea also is responding to an outbreak of the disease.