Economy

Thursday, May 8th 2008 - 21:00 UTC
Half of Argentine 2007/08 crop retained in the farms

The extended Argentine farmers/government conflict, which was triggered in early March when the new sliding export taxes system was announced, and its renewed eight days of protest, have left an estimated 44 million tons of grains and oil seeds unsold, valued in approximately 12 billion US dollars, according to market analysts interviewed by the Buenos Aires press.
Wednesday, May 7th 2008 - 21:00 UTC
Brazil working on idea of a sovereign wealth fund

Brazil's Finance Minister Guido Mantega announced in Brasilia that the government is working on creating a sovereign wealth fund of as much as 20 billion US dollars. The fund would help finance overseas investment and acquisitions by Brazilian companies.
Wednesday, May 7th 2008 - 21:00 UTC
IMF helping Latam with second effects of food prices

IMF Managing Director Dominique Strauss-Kahn warned on Wednesday about soaring food prices and the need to cushion the impact on the poor and revealed that the fund is already advising governments and central banks in Latin America on how to limit the second-round effects of the price shocks on the poor.
Wednesday, May 7th 2008 - 21:00 UTC
WTO has no short term solution to soaring food prices

The World Trade Organisation cannot deliver a short-term solution to soaring food prices but a successful end to global trade talks would help in the longer term, WTO chief said on Wednesday.
Wednesday, May 7th 2008 - 21:00 UTC
Argentina's car manufacturing posts record in April

Argentina's car manufacturing industry posted an increase in production of 31.5% in April compared to the same month a year ago. The total number of units manufactured in April was 54.622, according to ADEFA car manufacturer's organization.
Tuesday, May 6th 2008 - 21:00 UTC
World central bankers warn of rising food prices and inflation

European Central Bank President Jean- Claude Trichet, who chaired a meeting of central bankers of the world's leading nations warned on Monday about rising food prices and significant inflationary risks.
Tuesday, May 6th 2008 - 21:00 UTC
Uruguay heading for a record export year: 6 billion US dollars

Uruguay's exports increased 59.6% last April compared to the same month a year ago, with the whole expansion for the first four months reaching 44%, according to the latest statistics released by the government funded institution Uruguay XXI.
Tuesday, May 6th 2008 - 21:00 UTC
Uruguay rice industry wants to double production

Uruguay, South America's leading exporter of rice and among the world's top eight, traditionally has been forced to sell overseas 95% of its high quality grain given the country's scarce population and low consumption.
Tuesday, May 6th 2008 - 21:00 UTC
Uruguay's April inflation of 0.33% surprises experts

Uruguay's consumer price index, CPI, increased 0.33% in April the best performance so far in 2008 and the lowest since April 1962. This means that CPI in the first four months of the year reached 3.2%, (annualized 9.92%) and below the same period in 2007 (4.98%), according to the latest release from the national Statistics Institute.
Tuesday, May 6th 2008 - 21:00 UTC
Anti-inflation plan cost Uruguay 0.8% of GDP in 7 months

Public utilities rates subsidies which have been applied since September 2007 to help contain inflation have cost the Uruguayan treasury 185 million US dollars, equivalent to 0.8% of the country's GDP. Prices are estimated to have moderated 1.5% on an annual basis.