Economy

• Wednesday, November 24th 2021 - 09:16 UTC

  Bi-Oceanic Corridor to bring Mercosur closer to Asia, Paraguay's FM says

  

  Paraguay's Foreign Minister Euclides Acevedo said the Bi-Oceanic Corridor will bring Mercosur's entire economic development closer to Asia. His remarks came at a press conference after meeting with his Japanese counterpart Yoshimasa Hayashi in Tokyo earlier this week.

• Wednesday, November 24th 2021 - 09:16 UTC

  IMF praises Chilean economy but insists on targeted support for the most vulnerable

  

  An International Monetary Fund (IMF) mission, led by Ana Corbacho, met (virtually) with the Chilean authorities during November 15–19 to discuss recent economic developments, policies, and priorities for the country. The mission engaged with senior officials, analysts, and business representatives. At the conclusion of the visit, Ms. Corbacho issued the following statement:

• Wednesday, November 24th 2021 - 09:06 UTC

  Several Swiss banks “reprimanded” for breaching laundering rules with Venezuelan clients

  

  Several Swiss banks have been reprimanded for breaching laundering rules involving people linked to Venezuela's state oil company PDVSA, and have been ordered to terminate all business links with Venezuelan clients as well as with risky clients.

• Wednesday, November 24th 2021 - 08:46 UTC

  Bolsonaro favors reviewing Petrobras' formula to adjust price of fuel

  

  Brazil's President Jair Bolsonaro Tuesday said he intended to have Petrobras' international parity system reviewed, although he fell short of disclosing how he planned to go about it.

• Tuesday, November 23rd 2021 - 20:01 UTC

  Biden endorses Powell for yet another term as Federal Reserve head

  

  US President Joseph Biden has announced he wanted Republican lawyer Jerome Powell to stay at the helm of the United States Federal Reserve (Fed) for a second four-year term.

• Tuesday, November 23rd 2021 - 08:27 UTC

  Russia reopens market to Brazil for 200,000 tons of beef and 100,00 of pork, zero-tariff

  

  Russia announced to Brazil that it was reopening its market for a quota of up to 300,000 tons of meat, at zero tariffs, including 200,000 tons of beef and 100,000 tons of pork. Likewise, Russia lifted restrictions on beef exports from a Minerva processing plant and certified a second plant to begin shipments.

• Monday, November 22nd 2021 - 09:58 UTC

  Fears of devaluation loom over Argentina as Central Bank reserves run almost dry

  

  Argentine Economy Minister desperately needs to reach an agreement with the International Monetary Fund (IMF) this week, because the Central Bank (BCRA) has only US $ 800 million left in cash with which to intervene in the local exchange market, which is pressing for a devaluation.

• Saturday, November 20th 2021 - 22:23 UTC

  Freight costs will have an impact on 2022 Consumer Prices, UNCTAD report

  

  The recovery of the global economy is threatened by high freight rates, which are likely to continue in the coming months, according to UNCTAD’s Review of Maritime Transport 2021, published this week.

• Friday, November 19th 2021 - 09:40 UTC

  Brazil's Supreme Court rules discounts on school fees were unconstitutional

  

  Brazil's Supreme Federal Court (STF) Thursday ruled that lower court decisions granting linear discounts on college tuition fees during the COVID-19 pandemic were unconstitutional.

• Friday, November 19th 2021 - 08:58 UTC

  Merkel announces tougher restrictions for Germany's unvaxxed

  

  The German Government has announced restrictions are to be imposed on those unvaccinated against COVID-19 in an attempt to curb the current fourth wave.