Economy

• Tuesday, July 12th 2022 - 18:59 UTC

  Argentina's trade balance with Brazil in the red for 6th month in a row

  

  Bilateral trade between Mercosur partners Brazil and Argentina was reported to have reached US$ 2,937 million in the month of June of 2022, a 46.9% increase against the same period of 2021, according to the Argentine Chamber of Commerce (CAC) document released earlier this week.

• Tuesday, July 12th 2022 - 18:54 UTC

  Euro-zone inflation, things will get worse before they begin to improve

  

  The Euro-group, (countries using the Euro) finance ministers said that combating inflation was their number one priority. The announcement follows on the European Commission revised economic forecast anticipating dwindling growth and increasing geopolitical and natural disruptions to business as the biggest drags on the economy as a whole.

• Tuesday, July 12th 2022 - 13:08 UTC

  Inflation in Chile at record level since June 1994

  

  Inflation in Chile reached 0,9% in June, 7,1% in the first half of the year and 12,5% in the last twelve months, which is the highest since 28 years, in June 1994.

• Tuesday, July 12th 2022 - 07:54 UTC

  US dollar soars in Colombia as Petro's inauguration looms over

  

  The Colombian peso Monday suffered a historic devaluation amid uncertainty less than a month ahead of President-elect Gustavo Petro's inauguration.

• Monday, July 11th 2022 - 22:22 UTC

  Batakis announces spending cuts for Argentine gov't

  

  Argentina's Economy Minister Silvina Batakis Monday warned that the government of President Alberto Fernández “will not spend more than we have,” while launching a series of measures aimed at curbing inflation and restoring federal reserves.

• Monday, July 11th 2022 - 10:17 UTC

  Argentine authorities ready to launch batch of economic measures

  

  Argentine President Alberto Fernández and newly-appointed Economy Minister Silvina Batakis reviewed over the weekend a series of measures to be launched shortly in a move to curb inflation and strengthen the Treasury's coffers.

• Saturday, July 9th 2022 - 10:15 UTC

  Contradicting messages from Batakis herald split devaluation

  

  Argentine Economy Minister Silvina Batakis has been reported Friday to be evaluating several possible scenarios, all of which involve some forms of devaluation of the local peso.

• Saturday, July 9th 2022 - 10:03 UTC

  Uruguay Central Bank raised interest rate policy 50 basis point to 9,75%

  

  Uruguay's Central Bank of Uruguay this week ordered a 50 basis point increase in the interest rate policy, the eighth straight increase since last August. The move, which brings the monetary policy rate to 9.75%, means the central bank has ordered 525bp of increases in total over the past 11 months. The 50bp hike was somewhat smaller than the four previous hikes, which included April’s 125bp increase and three 75bp hikes.

• Saturday, July 9th 2022 - 09:52 UTC

  Biden signs executive order to lessen effects of Roe overturning on abortion

  

  US President Joseph Biden Friday issued an Executive Order which would mitigate the effects of the recent overturning by the US Supreme Court of the 1973 Roe v Wade ruling which had cleared the way for abortions nationwide.

• Saturday, July 9th 2022 - 09:30 UTC

  Brazil grains crop estimate, 272.5 million tons helped by corn and wheat despite a slide in soybeans

  

  Given more optimistic prospects for the supply of corn and wheat, Brazil's National Supply Company, Conab, increased, slightly, the estimate for the 2021/22 market year grain harvest. Overall this has meant that Brazil is expected to have a crop of 272.5 million tons of grains in the current season, 6.7% greater than the previous season.