Economy

• Monday, June 17th 2024 - 19:14 UTC

  Paraguay's potential highlighted by leading international outlet

  

  Paraguay's latest achievements as a top Latin American destination for foreign investments have been highlighted by One World Media. The outlet praised the South American country's macroeconomic and political stability coupled with its natural resources, strategic position, and gender equality regulations.

• Monday, June 17th 2024 - 18:14 UTC

  IMF: Argentina's economic activity projections worse than thought

  

  Monday's International Monetary Fund (IMF) projected a 3.5% drop in Argentina's economic activity this year from a previous 2.75% assessment but admitted inflation would be lower than previously thought reaching 140% year-on-year by the end of 2024 in addition to “declining further in the medium term, as demand for pesos recovers from historically low levels.”

• Friday, June 14th 2024 - 22:02 UTC

  G7: Milei mingles with world leaders but no picture with Lula

  

  Argentine President Javier Milei began mingling with the elite of the global leadership Friday at the exclusive Italian resort of Borgo Egnazia where the G7 Summit is taking place. Although the South American country is not a member of the group pitting together the seven largest world economies, he attended as a guest at the invitation of host Prime Minister Georgia Meloni who welcomed him personally.

• Friday, June 14th 2024 - 09:30 UTC

  Argentina's Indec says May's CPI reached 4.2%

  

  Argentina's National Institute of Statistics and Census (Indec) announced Thursday that the Consumer Price Index (CPI) had grown 4.2% in May, which was celebrated by the Libertarian administration of President Javier Milei as another sign of a slow victory over inflation despite the 71.9% recorded in the first five months of 2024 and the 276.4% yoy.

• Friday, June 14th 2024 - 07:57 UTC

  Milei's trip to China announced but not confirmed

  

  After reaching the presidency of Argentina on diatribes against “lefties” and “Communists,” it was reported Thursday in Buenos Aires that Javier Milei would be traveling to Beijing for a meeting on July 4 with Xi Jinping, who insisted on the South American leader's presence for the signing of the extension of a US$ 5 billion currency swap that saved the Libertarian administration from maturities this month and the next.

• Thursday, June 13th 2024 - 10:43 UTC

  Milei leaves for G7 Summit with a plethora of good news

  

  After a day of good news following the Senate's broad approval of the Bases Law bill in addition to an arrangement with China to extend the currency swap in force, Argentine President Javier Milei and his entourage left for Borgo Egnazia, Italy, to attend the G7 Summit, during which he plans to hold talks with Prime Minister Giorgia Meloni, French President Emmanuel Macron and International Monetary Fund (IMF) Managing Director Kristalina Georgieva, among other world leaders.

• Wednesday, June 12th 2024 - 20:29 UTC

  Milei pledges to leave Casa Rosada dead before surrendering Argentina's zero deficit

  

  Argentine President Javier Milei said Wednesday morning that “they will have to take me out of the [Casa] Rosada dead” if they are “to break the fiscal deficit.” The Libertarian leader made those remarks during his speech at an event in Buenos Aires ahead of his trip to Italy to attend the G7 Summit. ”We are going to make a bigger reform than the one made by Carlos Menem because ours is three times more (so),” he added.

• Wednesday, June 12th 2024 - 19:17 UTC

  Cargo terminal at Porto Alegre's airport operational again

  

  While passenger flights are still observing an emergency scheme, the cargo terminal at Porto Alegre's Salgado Filho International Airport (POA/SBPA) has been operational once again since Tuesday after the entire air station was shut down due to the floods hitting the State of Rio Grande do Sul, Agencia Brasil reported. According to Fraport Brasil, the company handling these operations, airport structures such as the runway and baggage conveyors, were not affected. On the other hand, passenger flights were suspended indefinitely on May 3.

• Wednesday, June 12th 2024 - 10:34 UTC

  World Bank: Uruguay in for economic growth above par in 2024

  

  The same World Bank report that foresaw a gloomy 2024 for Argentina forecasted a 3.2% growth for Uruguay in a region headed for poor average performance, the “World Economic Outlook” released Tuesday in Washington DC projected growth in Latin America and the Caribbean to reach 1.8% in 2024 before bouncing back to 2.7% in 2025 as interest rates and inflation slow down.

• Tuesday, June 11th 2024 - 22:17 UTC

  World Bank foresees economic deterioration for Argentina this year

  

  According to the latest “World Economic Outlook” report released Tuesday by the World Bank from its headquarters in Washington DC, Argentina's economy is expected to fall sharply this year, thus becoming the Latin American country going through the tightest contraction in the region before rebounding in 2025. The study projected a 3.5% drop this year followed by a 5% surge in 2025, thus outperforming the rest of the continent.