Economy

• Thursday, October 13th 2022 - 20:57 UTC

  IMF Chief praises Argentine gov't

  

  International Monetary Fund Managing Director Thursday praised the commitment of Argentine President Alberto Fernández's administration to comply with the debt-repayment program agreed upon.

• Thursday, October 13th 2022 - 10:18 UTC

  Chile ups TPM to curb inflation

  

  Chile's Central Bank Wednesday announced an increase of 50 basis points to the Monetary Policy Rate (TPM) which has been now set at 11.25% in a unanimous decision by the Board aimed at tackling inflation.

• Thursday, October 13th 2022 - 09:56 UTC

  IDB grants Argentine US$ 700 mn loan

  

  Argentina is to receive US$ 700 million to increase the Central Bank's reserves after the IDB Board of Directors agreed Wednesday to a Special Development Financing (SDL) package in light of Superminister Sergio Massa's presence in Washington DC for the annual meeting of the International Monetary Fund (IMF) and the World Bank.

• Thursday, October 13th 2022 - 02:41 UTC

  Mayor of Buenos Aires wants federal gov't to quit improvising

  

  Following the President Alberto Fernández administration's creation of a so-called “Qatar dollar” for transactions abroad with credit cards, Buenos Aires Mayor and potential presidential candidate said nobody will “invest in Argentina with so many exchange rates.”

• Thursday, October 13th 2022 - 02:34 UTC

  Parts of Uruguay on brink of agricultural emergency due to poor rains

  

  Uruguay's Livestock, Agriculture, and Fisheries Minister Fernando Mattos has not ruled out declaring a national emergency due to the water deficit caused by poor rains, despite western and southern parts of the country being the most severely affected by the lack of rainfall during the winter.

• Wednesday, October 12th 2022 - 09:43 UTC

  France with gasoline and diesel outages because of oil refineries strikes

  

  Industrial conflict in French oil refineries has left many gasoline stations without fuel forcing the government to requisition with a court order, essential workers to staff oil depots of companies in conflict.

• Wednesday, October 12th 2022 - 09:26 UTC

  IMF anticipates recession in Germany and Italy next year and an almost halt for the UK economy

  

  The International Monetary Fund (IMF) on Tuesday predicted that Germany and Italy would both fall into recession next year, while Great Britain the G7 best performing economy this year, will come to an almost halt in 2023, following on the announcement of the mini budget by the Liz Truss government.

• Tuesday, October 11th 2022 - 17:56 UTC

  Argentina burdened by high inflation and multiple exchange rates

  

  Argentina's economy seems to have a dark future ahead, according to reports in Buenos Aires media highlighting that inflation in the first week of October alone reached 2.8 % in the price of food.

• Tuesday, October 11th 2022 - 10:29 UTC

  World Bank, IMF heads foresee recession ahead

  

  The planet must prepare itself for a full-size recession, according to forecasts announced Monday by the heads of the International Monetary Fund (IMF) and the World Bank, who spoke of economic headwinds ahead.

• Monday, October 10th 2022 - 18:55 UTC

  Nobel Economics Prize split among 3 US scholars

  

  The Nobel Prize in Economics was awarded to Ben S. Bernanke, Douglas W. Diamond, and Philip H. Dybvig of the United States “for their research on banks and financial crises,” it was announced in Stockholm Monday.