Economy

• Monday, February 7th 2022 - 09:13 UTC

  New gas well found in Bolivia, expected to generate millions of dollars

  

  Bolivian President Luis Arce Catacora has confirmed over the weekend the discovery of large gas reserves which -he hoped- would yield substantial profits to the country.

• Sunday, February 6th 2022 - 19:32 UTC

  Cuban official says ok to withhold surplus earnings of foreign company workers

  

  Cuba's Foreign Trade Minister Rodrigo Malmierca has said in an interview with local current news magazine Bohemia last week that he saw a contradiction in workers of global companies earning more than those who did the same job for the local State.

• Saturday, February 5th 2022 - 15:41 UTC

  Moody's warns Argentina's unwritten IMF deal does not avert default

  

  Credit rating consultants Moody's Friday issued a report according to which Argentina's ”long history of failure when implementing International Monetary Fund (IMF) programs” meant the risk of default had not been averted.

• Saturday, February 5th 2022 - 11:44 UTC

  Paraguayan Central Bank reports inflation in Jan. 2022 reached 1.5%

  

  Paraguay's Consumer Price Index (CPI) grew 1.5% in the month of January of 2022, for a yoy inflation of 7.9%, which surpassed the 6.8% recorded in the last month of 2021. It was also significantly above the same period of the previous year.

• Saturday, February 5th 2022 - 10:22 UTC

  Argentina expects more support from the EU on the “Malvinas issue” after Brexit

  

  Since the Falkland Islands ceased to be a European Union (EU) Community overseas territory after the Brexit, Argentina seeks more support from the bloc in the negotiation claim with the United Kingdom on the South Atlantic British territory. It was explained by the Argentine Secretary of Malvinas, Antarctica, and South Atlantic, Guillermo Carmona in an interview with EFE.

• Friday, February 4th 2022 - 09:37 UTC

  Bank of England increases rate to 0,5% and begins reduction of bond purchases

  

  The Bank of England’s Monetary Policy Committee (MPC) this week voted by a majority of 5-4 to increase Bank Rate by 0.25 percentage points, to 0.5%. Those members in the minority preferred to increase Bank Rate by 0.5 percentage points, to 0.75%.

• Friday, February 4th 2022 - 09:27 UTC

  Brexit trade protocol leads to Northern Ireland First Minister resignation

  

  Northern Ireland's First Minister Paul Givan Thursday handed in his resignation citing discrepancies regarding Brexit protocols. As a consequence of his decision, Sinn Féin’s Michelle O’Neill also leaves her position as Deputy First Minister, due to the existing power-sharing arrangements dating back to 1998.

• Thursday, February 3rd 2022 - 09:55 UTC

  Brazil rises Selic interest rates amid growing inflation

  

  Brazil's Central Bank (BCB) Wednesday increased its benchmark interest rate (Selic) by 1.5 percentage points, reaching 10.75%, the first time in five years it hit double digits, amid a growing inflation and despite the consequences, this measure may have on economic growth.

• Thursday, February 3rd 2022 - 09:54 UTC

  Uruguayan peso gets stronger against US dollar

  

  Uruguay's currency keeps growing stronger against the US dollar, it was reported Wednesday in Montevideo after it closed at a rate of UR $ 43 / US $ 1.

• Wednesday, February 2nd 2022 - 21:00 UTC

  Fuel goes up 9% in Argentina after long price freeze

  

  Argentina's state-run oil company YPF announced a price increase of around 9% in the price of fuel at pumps as of Wednesday, with 2 additional percentage points in the case of premium products.