Economy

• Friday, August 22nd 2025 - 20:31 UTC

  Milei's govt hit by string of setbacks

  

  Argentine President Javier Milei has been suffering a series of setbacks this week after the Lower House overturned his veto of the Disability Emergency Law, followed by a slumping trade surplus projection and a sharp drop in wholesale transactions amid mounting corruption scandals.

• Friday, August 22nd 2025 - 10:30 UTC

  Grau becomes Chile's new Finance Minister

  

  Chilean President Gabriel Boric Font on Thursday appointed Nicolás Grau, previously the Economy Minister, as the new Minister of Finance, following Mario Marcel's resignation earlier in the day. Meanwhile, Álvaro García was chosen to replace Grau. Ignacia Fernández, former Undersecretary of Agriculture, took over as Minister of Agriculture in lieu of Esteban Valenzuela.

• Friday, August 22nd 2025 - 10:19 UTC

  Brazil clinches beef export deal with Indonesia

  

  Brazilian meat producers have reached an agreement with Indonesian buyers to export beef from South America's largest country to the world's fourth-most populous nation, the Ministries of Agriculture and Foreign Affairs confirmed on Thursday. The export of live sheep (ewes, rams, lambs) to Algeria was also announced.

• Thursday, August 21st 2025 - 20:22 UTC

  Marcel resigns as Chile's Finance Minister for personal reasons

  

  Mario Marcel on Thursday turned in his resignation as Chile's Finance Minister, just one day after Esteban Valenzuela left Agriculture. While Marcel's decision was reported to be due to strictly personal reasons, Valenzuela's departure just seven months from the end of President Gabriel Boric Font's term follows alliances ahead of this year's elections.

• Thursday, August 21st 2025 - 19:29 UTC

  De Moraes' canceled credit card poses dilemma to Brazilian banks

  

  After the Banco do Brasil (BB) canceled Supreme Federal Court Justice Alexandre De Moraes' Master Card following instructions stemming from the United States' sanctions under the Magnitsky Act against the magistrate, South America's largest country's institutions were gripped by controversy.

• Thursday, August 21st 2025 - 10:52 UTC

  Brazil exports benefit from Argentina’s economic rebound

  

  The economic rebound of Argentina, under liberal president Javier Milei, has had a significant impact for Brazil, with auto and industrial machinery exports having increased more than 50% so far this year compared to similar period in 2024, points out O Globo news.

• Thursday, August 21st 2025 - 10:36 UTC

  Stubborn inflation in UK, 3.8% in twelve months to July with air fares, fuel and food prices leading

  

  The U.K.’s annual inflation rate was higher than expected at 3.8% in July, according to data released by the Office for National Statistics (ONS) on Wednesday. Most economists had anticipated inflation would reach 3.7% in the twelve months to July, after it picked up to 3.6% in June, exceeding forecasts.

• Thursday, August 21st 2025 - 10:19 UTC

  Moody's upholds Paraguay's investment grading

  

  The international rating agency Moody's on Tuesday reaffirmed Paraguay's sovereign rating at “Baa3”, maintaining a stable outlook. This rating, considered an investment grade, is the result of the South American country's strong economic performance, fiscal discipline, and institutional stability. The Baa3 rating entails lower financing costs, with better borrowing conditions in terms of interest rates and maturities.

• Wednesday, August 20th 2025 - 21:41 UTC

  Lula and Macron agree to further discuss EU-Mercosur FTA

  

  Brazilian President Luiz Inácio Lula da Silva held a telephone conversation about one hour long Wednesday with his French colleague Emmanuel Macron, during which both leaders pledged to further discuss the Mercosur-European Union Free Trade Agreement to finalize it.

• Wednesday, August 20th 2025 - 08:55 UTC

  The Bank of England could learn from the Falklands

  

  By A. S. H. Smyth, (*)