Economy

Wednesday, July 20th 2022 - 10:50 UTC
Rio Grande port in south Brazil plans to increase export shipments from Uruguay and Paraguay

The Port of Rio Grande in the Brazilian southernmost state of Rio Grande do sul, will have continuous dredging of its access channel. The decision follows strong long-standing demand from operators and the fact that the main maritime port terminal in the state of Rio Grande do Sul also has close links with the three other Mercosur member countries, Paraguay, Argentina and Uruguay.
Wednesday, July 20th 2022 - 10:45 UTC
Argentina: unofficial dollar crosses psychological AR$ 300 barrier

The unofficial exchange rate between the local peso and the US dollar most commonly used by Argentines, also referred to as “blue,” Tuesday crossed the iconic AR$ 300, reaching an all-time high.
Wednesday, July 20th 2022 - 10:39 UTC
EU eyes CELAC for food; Mercosur “a more complicated issue”

Josep Borrell, the European Union's top diplomat, has said Latin America would host a CELAC meeting sometime next year, but admitted that ratifying the 2019 trade agreement with Mercosur was “a more complicated issue.”
Tuesday, July 19th 2022 - 10:07 UTC
Argentines dump their currency in northern provinces and trade with Bolivian money

With the Argentine economy in shambles, inflation out of control heading for hyper inflation, daily increases of prices, and new clamps to have access to some strong currency, --such as the US dollar, which Argentines love--, along the provincial border towns, particularly with neighboring Bolivia and Paraguay trade is done mostly with Pesos, but Bolivianos.
Tuesday, July 19th 2022 - 09:55 UTC
FT critical of IMF leniency towards perennial defaulter Argentina

A column published by the Financial Times has stressed that the administration of President Alberto Fernández needed “stricter targets” from the International Monetary Fund (IMF) to keep a “weak and populist” government from running astray.
Tuesday, July 19th 2022 - 09:06 UTC
Brazilian unicorns hit by mass layoffs as financing runs scarce

Brazilian startup companies also known as “unicorns” are going through mass layoffs after their momentum seems to have calmed down and the consequences of COVID-19 lockdowns and their ensuing economic crises begin to take their toll, it was reported.
Tuesday, July 19th 2022 - 09:00 UTC
Telemarketing companies in Brazil banned for being too bold

Brazil's Federal National Consumer Secretariat ( ) has suspended 180 companies for their molesting telemarketing practices harassing would-be consumers unrestrictedly, it was reported Monday.
Monday, July 18th 2022 - 09:11 UTC
Peruvian President's approval ratings keep sinking

Peruvian President Pedro Castillo Terrones' approval ratings fell yet again, according to an Ipsos survey released Sunday by the Lima newspaper El Comercio. Meanwhile, 79% of Peruvians also disapproved of the management of Congress, the study showed.
Monday, July 18th 2022 - 09:05 UTC
Somber future ahead for Argentina's economy

Foreign Analysts do not see a bright future ahead for Argentina's economy. While some place it among the countries most likely to default its debt, others fear it might not survive a new adjustment to the basic interest rates by the United States.
Monday, July 18th 2022 - 08:56 UTC
Chile injects US$ 25 billion liquidity to contain the exchange rate and inflation

After the US dollar in Chile broke the milestone exchange rate of a thousand Pesos in June, the Central Bank reacted by announcing it will literally “flood” the market with 25bn dollars, of which 10bn to be supplied to the spot market, another 10bn covering future dollar operations, and 5bn in swap deals.