Economy

Tuesday, March 15th 2022 - 20:00 UTC
Puerto Rico formally out of bankruptcy

The Government of Puerto Rico Tuesday announced the largest public debt restructuring in US history, thanks to which the island has formally managed to avoid bankruptcy after a debt of US$ 70 billion seven years ago was beyond its repayment capacity.
Tuesday, March 15th 2022 - 09:50 UTC
Mercosur and associate members want fertilizers off Russia's sanctions list

Mercosur country members plus associate Chile and Bolivia (in the process of joining the block) want fertilizers excluded from the list of sanctions on Russia, according to Brazilian Agriculture minister Tereza Cristina da Costa Dias.
Tuesday, March 15th 2022 - 09:39 UTC
The IMF understanding does not solve Argentina's problems, “it's only a breathing space”

Gustavo Grobocopatel, one of Argentina's most successful farming businesspeople said that the understanding reached with the IMF does not solve the country's problems, IMF merely agreed “to kick the can down the road” and give Argentina time to change its production matrix.
Tuesday, March 15th 2022 - 09:38 UTC
Ecuadorian banana producers seek declaration of emergency

Ecuadorian banana producers in the coastal provinces of Guayas, Los Rios, and El Oro, have staged road blockades demanding the government to step in and purchase the surplus resulting from Russia's military operation in Ukraine.
Tuesday, March 15th 2022 - 09:37 UTC
PM Johnson hosted a roundtable of leaders in the UK’s offshore oil and gas industry

Prime Minister Boris Johnson hosted on Monday a roundtable of leaders in the UK’s offshore oil and gas industry today to discuss domestic energy security. This is part of a series of engagements by the Government across the UK’s energy sectors, including with renewable and nuclear companies in the coming days and weeks.
Tuesday, March 15th 2022 - 09:32 UTC
Three provinces concentrated 74% of Argentine US$ 78bn. exports in 2021

Three mainly agricultural provinces in Argentina, Buenos Aires, Santa Fe, and Córdoba accounted for 74% of the US$ 78 billion exported by the country in 2021, reported the National Institute of Statistics and Censuses (Indec).
Tuesday, March 15th 2022 - 09:31 UTC
Argentine FM lands financing deals for transition infrastructure

Argentine Foreign Minister Santiago Cafiero, who is on a Middle East official tour, Monday announced he had reached agreements worth over US$ 1 billion to finance infrastructure works regarding energy and climate change through 2023.
Monday, March 14th 2022 - 20:42 UTC
Fuel at Argentine pumps goes up for the second time this year

Argentina's state-run oil company YPF has increased its prices at pumps between 9.5% and 11.5%. It was the second rise this year. Other brands such as Shell have followed suit. The last increase had been in February.
Monday, March 14th 2022 - 20:39 UTC
Argentine gov't eyes soybean exports as a source of financing

The government of Argentine Sunday decided to shut down all registrations for new soybean oil and soybean meal exports “until further notice,” it was announced. Authorities are also said to be planning a 2% rise to export taxes of industrial by-products, to level it up with the 33% charged to soybeans.
Monday, March 14th 2022 - 20:27 UTC
Puebla Group supports Argentina's agreement with the IMF

World leaders gathered under the Puebla Group have expressed their support to Argentine President Alberto Fernández for the deal reached with the International Monetary Fund (IMF) and for its “overwhelming approval in Congress.”