Economy

• Friday, September 23rd 2022 - 10:25 UTC

  A smaller EU, (without UK), and Brazil negotiating new quotas and export volumes

  

  Brazil and the European Union (EU) have reached a bilateral agreement on agricultural commodity quotas to adapt them to the bloc’s change in size following the Brexit departure of the United Kingdom. Under the new agreement, EU will reduce quotas, but, in return, UK decided to open others proportionately, thus preserving Brazil’s export window for both markets.

• Friday, September 23rd 2022 - 10:19 UTC

  Leveraged loan to help Latam airlines exit from bankruptcy

  

  Fresh air for highly indebted Latam, probably still the largest Latin American air carrier. In effect, a group of banks led by Goldman Sachs Group Inc. has launched a leveraged loan sale that will support Latam Airlines Group SA’s exit from bankruptcy.

• Friday, September 23rd 2022 - 10:08 UTC

  Tourists leave hundreds of millions of dollars in Argentina

  

  Foreign tourists have left US$ 850 million in Argentina during the recent winter recess, Buenos Aires authorities reported this week. The local government also said 4,510,000 visitors had entered the country through all border crossings, of whom 2,312,000 were leisure travelers.

• Friday, September 23rd 2022 - 10:05 UTC

  Spanish coalition plans a “wealth” tax on the richest 1% to support “the middle class and workers”

  

  Spain's fragile left-wing coalition government plans to slap a temporary tax on the wealthiest 1% of the country's population to help pay for inflation and cost of living relief measures.

• Friday, September 23rd 2022 - 09:44 UTC

  Latin America and US agree to sack IDB president, a Trump appointment

  

  The fourteen governors on the board of the multilateral Inter-American Development Bank (IDB) have voted unanimously to recommend firing President Mauricio Claver-Carone, Latin American sources revealed on Thursday.

• Friday, September 23rd 2022 - 09:16 UTC

  BOE hikes basic rate to 2,25%, and admits UK economy is in recession process

  

  The Bank of England hiked its base rate to 2.25% from 1.75% on Thursday, lower than the 0.75 percentage point increase that had been expected by many traders, but cautioned the UK economy was already entering recession since GDP is forecast to contract by 0,1% in the third quarter, following on a 0.1% decline in the second quarter.

• Thursday, September 22nd 2022 - 10:12 UTC

  With Fed help and warmonger Putin, Super Dollar is stronger than the Euro

  

  The European Union common currency, the Euro sank to a two-decade low of US$0.9810 on Thursday. It came after Russian President Vladimir Putin ordered the partial mobilization of reservists in an escalation of the war in Ukraine and after the Federal Reserve implemented a 75 basis points increase to the interest rate.

• Thursday, September 22nd 2022 - 10:01 UTC

  With inflation soothing, Brazilian central bank leaves basic Selic interest rate unchanged at 13,75%

  

  Brazil's Central Bank Monetary Policy Committee (Copom) decided on Wednesday to keep its basic Selic interest rate unchanged at 13,75%, putting an end to twelve consecutive increases which took off in 2021 with the purpose of bringing down inflation.

• Thursday, September 22nd 2022 - 09:04 UTC

  Fed's Powell and the unfortunate costs of reducing inflation: third 75 basis points interest rate hike

  

  Challenged by the highest level of inflation experienced in the US in over 40 years, the Federal Reserve decided on Wednesday a third consecutive interest rate hike of 75 basis points, bringing the benchmark rate up to a range of 3.0% to 3.25% from 2.25% to 2.50%.

• Wednesday, September 21st 2022 - 18:57 UTC

  Western Uruguayans concerned over Argentina's low prices

  

  Uruguayan mayors along the country's western border have expressed their concern to President Luis Lacalle Pou as the informal exchange rate between the Argentine peso and the US dollar renders local businesses unprofitable since consumers do their shopping across the line.