Economy

• Monday, August 1st 2022 - 20:56 UTC

  Brazilian customers have bought over 100,000 electric vehicles

  

  The Brazilian market of battery-powered vehicles has crossed the psychologically relevant threshold of 100,000 units in circulation nationwide, as sales of this type of vehicle grew 47% yoy in the first semester of 2022, it was reported.

• Saturday, July 30th 2022 - 10:09 UTC

  IDB changes mind, and is again prepared to extend development loans to Argentina

  

  Only last Monday Mauricio Claver-Carone, president of the Inter American Development Bank, IDB, published a letter in the Wall Street Journal blasting “Argentina's tumultuous financial record”, adding that IDB ”cannot rubber-stamp loan requests, without prudently ensuring it has a development impact.”

• Saturday, July 30th 2022 - 08:10 UTC

  No call, just a message from Argentine President to IMF Chief

  

  Argentine President Alberto Fernandez sent International Monetary Fund (IMF) Managing Director Kristalina Georgieva a message explaining the cabinet reshuffle currently underway.

• Friday, July 29th 2022 - 19:15 UTC

  Boosted by Brazil and Mexico, Latin America's economy expected to expand 3% in 2022, IMF

  

  Given the improved performance of Latin America's largest economies, particularly Brazil, Mexico, Colombia and Chile, the IMF has raised the 2022 growth projection for the Latam and the Caribbean.

• Friday, July 29th 2022 - 09:55 UTC

  Who's who in Argentina after Thursday's cabinet reshuffle

  

  After Thursday's announcement of a large-scale cabinet reshuffle at Casa Rosada, the administration of President Alberto Fernández also announced the new destinations of the departing officials.

• Friday, July 29th 2022 - 09:49 UTC

  Slight increase in unemployment, Uruguayan statistics bureau reports

  

  Unemployment in Uruguay has grown from 8.1% in May to 8.4% in June, according to a National Statistics Institute (INE) report on Activity, Employment and Unemployment released Thursday.

• Thursday, July 28th 2022 - 09:55 UTC

  Argentina: Massa denies he is to become Economy Minister

  

  Argentina's Lower House Speaker Sergio Massa Wednesday denied rumors that he would take over as Economy Minister but that President Alberto Fernández was delaying the announcement until the incumbent Silvina Batakis returned from her US mission.

• Thursday, July 28th 2022 - 09:10 UTC

  Argentina's never ending tragic farce

  

  By Andrés Velasco (*) - Argentine voters are no strangers to financial turmoil, but they keep electing politicians who run large fiscal deficits and finance them by printing pesos. Could it be that the only way for politicians to show they want to save the economy is to destroy it first?

• Thursday, July 28th 2022 - 08:57 UTC

  IDB keeps approving loans for Argentina amid frozen disbursements

  

  The Inter-American Development Bank (IDB) has approved a credit line worth US$ 1140 million for energy investments and vowed to keep reviewing CEO Mauricio Claver-Carone's decision to halt a separate disbursement of over US$ 800 million to a country with such a credit record.

• Thursday, July 28th 2022 - 07:59 UTC

  Fed raises the benchmark interest rate 75 basis points, fourth time running

  

  For the fourth time running since March the United States Federal Reserve on Wednesday increased benchmark interest rates 75 basis points to its highest level since 2018, in yet another significant effort to contain inflation which is running at a forty-year high of 9,1%, but at the same time avoiding a recession.