Economy

• Friday, March 18th 2022 - 09:55 UTC

  Argentine Senate gives thumbs up to IMF deal

  

  Argentina's Senate Thursday approved the agreement with the International Monetary Fund (IMF) to repay the US$ 45 billion borrowed under the administration of former President Mauricio Macri in 2018.

• Thursday, March 17th 2022 - 20:56 UTC

  Uruguayan fruit company in the red has new owners

  

  The international produce company Frutura has bought over the Uruguay-based Citrícola Salteña, a leading global supplier and marketer of high-quality citrus and juice.

• Thursday, March 17th 2022 - 20:55 UTC

  Paraguayan truckers to lift protests if stabilization fund bill is approved

  

  A group of union leaders representing Paraguyay's lorry drivers Thursday announced they would lift the road blockades if the Senate passes the bill to create a fuel price stabilization fund.

• Thursday, March 17th 2022 - 10:06 UTC

  Fed raises interest rate, first time since 2018, and anticipates six/seven more increases this year

  

  The Federal Reserve announced on Wednesday it raised its target for short-term interest rates a quarter-percentage point to 0,50% and anticipated six/seven more rate increase for the rest of 2022, as the US faces the highest inflation in four decades.

• Thursday, March 17th 2022 - 09:36 UTC

  Those who disregard Argentina's market will be banned from exporting beef

  

  Argentina's Agriculture and Livestock Minister Julián Domínguez has warned beef exporters that those who fail to supply the local market in accordance with the Government's plan will be banned from selling their products abroad.

• Wednesday, March 16th 2022 - 22:55 UTC

  Brazil's Central Bank raises interest rate to 11.75%, highest since 2017

  

  Brazil's central bank (BCB) on Wednesday raised its benchmark interest rate by 1 percentage point to 11.75%, a high in nearly five years, in a bid to curb inflation that “continued to surprise” amid pressures exacerbated by the war in Ukraine. Last time with such a high inflation was last April, 2017.

• Wednesday, March 16th 2022 - 09:55 UTC

  Argentina's inflation for February of 2022 reaches 4.7%

  

  Argentina's inflation for the month of February of 2022 has reached 4.7% on average, the National Institute of Statistics and Census (Indec) announced Tuesday. It was the highest percentage since March of last year and was driven chiefly by increases in the price of food due to droughts, heatwaves, and fires.

• Wednesday, March 16th 2022 - 09:54 UTC

  Lacalle Pou signals price of meat to go up in Uruguay

  

  Uruguay's President Luis Lacalle Pou Tuesday heralded there would be news regarding the price of meat and some other “fundamental inputs.” He also announced the measures will be announced at different times, and they also will be “internal, except for some imports of meat cuts.”

• Wednesday, March 16th 2022 - 09:10 UTC

  US will sponsor home production of fertilizers to cut dependence from imports

  

  United States Department of Agriculture (USDA) is planning to invest an initial sum of US$250 million for the production of fertilizers in the country. USDA said the goal is the reduction of input costs, which have been strongly affected by the sanctions imposed on Russia, (a leading global supplier) and stimulate competition in the US.

• Tuesday, March 15th 2022 - 20:00 UTC

  Puerto Rico formally out of bankruptcy

  

  The Government of Puerto Rico Tuesday announced the largest public debt restructuring in US history, thanks to which the island has formally managed to avoid bankruptcy after a debt of US$ 70 billion seven years ago was beyond its repayment capacity.