Economy

Wednesday, January 5th 2022 - 10:17 UTC
In three decades the Argentine Peso equivalent to one dollar, is now worth less than 5 US cents

Some three decades ago the new Argentine democratically elected government takes office determined to put an end to endemic inflation when not hyperinflation. The new scheme was convertibility, making the Peso equivalent to one US dollar. Following strictly to the book, this meant a tight rein on spending and selling government companies that only accumulated deficits.
Tuesday, January 4th 2022 - 17:57 UTC
Foreign trade yield US $ 15 billion to Argentina's Central Bank in 2021

Foreign trade has meant around US $ 15 billion for Argentina's Central Bank (BCRA) in 2021, according to projections reported Monday in Buenos Aires. It became the fifth best surplus so far in the 21st century, despite November's US $ 117 million deficit, the first setback since 2018.
Tuesday, January 4th 2022 - 06:45 UTC
Cannabis developers eye Paraguay to further expand their business

As cannabis gradually transitions from a cultural drug to just an agricultural product like any other, Paraguay's unique conditions make it a destination of choice for those trying to develop the newly-legalized business, according to a report carried by the Buenos Aires daily Perfil.
Tuesday, January 4th 2022 - 06:13 UTC
Santa Claus turned out to be Spanish bank Santander: deposits in 2,000 business accounts were made twice

Santa Claus apparently is Spanish bank Santander which deposited £130m into 75,000 accounts on 25 December. Santander's staff are now rushing to recover the money, although the job is being made more difficult because much of it was deposited in accounts at rival banks, according to The Times.
Monday, January 3rd 2022 - 21:57 UTC
Peru's inflation the highest in 13 years

Peru's inflation for 2021 has reached 6.43%, thus becoming the highest in the last 13 years and twice as high as the Government's target range, set at 3%. It was also over three times over 2020's annual record of 1.97%.
Monday, January 3rd 2022 - 09:56 UTC
Strong recovery of employment in most of Chile

Unemployment in Chile is down to 7,5%, the lowest since January 2020, according to the country's stats office INAE. The 7,5% figure is the seventh consecutive mobile quarter, (September-November), which has seen a systematic reduction in unemployment plus a simultaneous standing recovery of lost jobs, some 74,6% of the two million wiped out by the coronavirus pandemic.
Monday, January 3rd 2022 - 09:27 UTC
Mar del Plata fears offshore oil wells may end up damaging the city's economy

Argentina's government has issued an environmental impact declaration for offshore oil drilling off the coast of Mar del Plata which has prompted voiceful objections from local residents, particularly Mayor Guillermo Montenegro of the opposition Juntos por el Cambio (JxC), while Federal Energy Secretary Darío Martínez welcomed the decision.
Monday, January 3rd 2022 - 09:20 UTC
The Euro at 20

By Jean Pisani-Ferry (*) – Twenty years ago, on January 1, 2002, citizens of 12 European countries began using new euro banknotes and coins. A larger-than-life project – emblematic of a time when European leaders were bold enough to step into the unknown – thus became a tangible reality.
Friday, December 31st 2021 - 09:22 UTC
Brazil's Industry Confederation expects 1,2% to 1,8% GDP growth in 2022

Brazil's GDP is forecasted to expand by 1,2% in 2022, according to the Brazilian National Industry Confederation (CNI). However since 2022 is an election year and public opinion is strongly divided, the estimate is simply that, an estimate, following on a reasonably dynamic 4,7% growth this year with record exports.
Thursday, December 30th 2021 - 09:58 UTC
Argentine peso drops yet again versus informal US dollar

The unofficial exchange rate between the Argentine peso and the US dollar climbed just one more notch Wednesday, thus reaching an unprecedented high of AR $ 205 (buy) and AR $ 209 (sale) / US $ 1.