Economy

• Tuesday, March 29th 2022 - 09:24 UTC

  Argentine Senators launch bid to tax assets abroad and pay off the IMF

  

  Argentina's ruling Frente de Todos (FdT) lawmakers Monday suggested a new tax on assets and money not declared to the local Treasury and kept abroad be levied in order to pay the country's debt with the International Monetary Fund (IMF).

• Tuesday, March 29th 2022 - 09:21 UTC

  Brazil still committed to joining OECD, Minister Guedes tells the group

  

  Brazil's Economy Minister Paulo Guedes Monday reaffirmed in Paris his country's commitments to the guidelines of the Organization for Economic Cooperation and Development (OECD).

• Monday, March 28th 2022 - 09:38 UTC

  British FM says Putin must withdraw from Ukraine for sanctions to be lifted

  

  British Foreign Secretary Liz Truss hinted a possible exit route for Russia might be considered if President Vladimir Putin fully withdraws his troops from Ukraine and pledges “not to launch new aggressions.”

• Monday, March 28th 2022 - 09:34 UTC

  EC activates mechanism to compensate the higher costs of fishing industry

  

  The European Commission activated a crisis mechanism to compensate for the rise in diesel prices, a situation linked to the war in Ukraine and that is having a significant impact on the European fisheries sector.

• Friday, March 25th 2022 - 16:09 UTC

  IMF Board unanimously approves Argentina deal

  

  The International Monetary Fund's board of directors Friday approved unanimously the latest US$ 45-billion program signed with Argentina, with which the South American country has avoided default.

• Friday, March 25th 2022 - 09:45 UTC

  Falkland Islands Government retains their global S&P A+ rating

  

  The Falkland Islands Government confirmed on Thursday that, following a detailed review of updated fiscal and economic information, supported by a process of confidential interviews with FIG officers and representatives of the business community, S&P Global Ratings have confirmed the sovereign rating for the Falkland Islands remains at A+ with a stable outlook.

• Friday, March 25th 2022 - 09:31 UTC

  Venezuela's Maduro feels worthy of Nobel Prize in Economics

  

  Venezuela's President Nicolás Maduro Thursday unleashed anger worldwide when he claimed his government deserved the Nobel Prize in Economics, which earned him a barrage of negative comments on social media.

• Friday, March 25th 2022 - 09:29 UTC

  Potash prices have more than trebled and keep climbing

  

  Potash prices, a key element used as fertilizer have more than trebled compared to a year ago. The mineral which was trading at US$ 300 a ton in early 2021, has now skyrocketed to US$ 1,100 a ton, and with not many prospects of returning to normal levels given the ongoing month-long war in Ukraine following on the Russian invasion.

• Friday, March 25th 2022 - 09:20 UTC

  Falklands Chamber of Commerce satisfied port project advances, but warns FIG on “gaps and issues”

  

  The Falkland Islands Chamber of Commerce has reacted positively to news that the new port construction will go ahead. Invited to respond to the news in the light of recent controversy (FIG approved the Port Development Planning application despite a recommendation against by the Planning and Building Committee) a spokesperson for the Chamber responded to the Penguin News as follows:

• Thursday, March 24th 2022 - 09:31 UTC

  Uruguay's economy grows 4.4% in 2021, Central Bank says

  

  According to a study by Uruguay's Central Bank released Wednesday, the country's economy has grown 4.4% in 2021, despite all COVID-19 restrictions. The new figures show a recovery from 2020's fall due to the sanitary measures in force, which led to a decline in GDP of 5.9%.