Economy

• Saturday, December 18th 2021 - 09:57 UTC

  Uruguay does not sign joint declaration at Mercosur Summit

  

  Uruguay stood out for its dissenting stance at the 59th Summit of the Common Market of the South (Mercosur) Friday after President Luis Lacalle Pou refused to sign a joint declaration.

• Saturday, December 18th 2021 - 09:38 UTC

  Bloomberg's pessimistic outlook of Chile's once shinning future

  

  For decades, Chileans watched from afar as their South American neighbors grappled with galloping inflation, financial crashes, and extreme political swings, destabilizing forces that compelled the wealthy to send hundreds of billions of dollars to havens in Switzerland, the Cayman Islands, or the U.S.

• Saturday, December 18th 2021 - 09:02 UTC

  Global Debt Reaches a Record US$226 Trillion

  

  By Vitor Gaspar, Apulo Medas, and Roberto Perrelli (*) – In 2020, we observed the largest one-year debt surge since World War II, with global debt rising to US$ 226 trillion as the world was hit by a global health crisis and a deep recession. Debt was already elevated going into the crisis, but now governments must navigate a world of record-high public and private debt levels, new virus mutations, and rising inflation.

• Friday, December 17th 2021 - 11:56 UTC

  Uruguayan President completes mission in Qatar and faces a crisis in his coalition

  

  Uruguay's President Luis Lacalle Pou returned home from an official trip to Qatar in search of trade opportunities for his country. He reached an agreement regarding visas while air routes and direct investments are being studied.

• Friday, December 17th 2021 - 09:32 UTC

  China lifts ban on Brazilian beef, but UK and EU retailers will stop purchases because of deforestation

  

  Good and bad news for Brazil's beef exports. China finally lifted the ban on Brazilian beef and allowed the resumption of shipments to the great Asian market. But several of the main retailers in Britain and the European Union have announced the banning of Brazilian beef in their shelves because meat processors are using cattle linked to the Amazon and Pantanal deforestation.

• Thursday, December 16th 2021 - 09:43 UTC

  What is the Federal Reserve tapering; the end of rock bottom interest rates?

  

  By Edouard Wemy – Tapering refers to the Federal Reserve policy of unwinding the massive purchases of Treasury bonds and mortgage-backed securities it’s been making to shore up the economy during the pandemic.

• Thursday, December 16th 2021 - 09:41 UTC

  Fed faces inflation: taper concludes in March and three 0,25% rate hikes by end of 2022

  

  With US inflation reaching 6,8% in November, the highest in four decades, and following a two-day meeting, the Federal Reserve announced it was ending its asset purchase program earlier than expected anticipating several interest rate increases in 2022.

• Thursday, December 16th 2021 - 09:28 UTC

  FOMC Release, 15 December

  

  The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals.

• Thursday, December 16th 2021 - 09:22 UTC

  Venezuelan exports grow 30% compared to 2020

  

  The president of the Venezuelan Association of Exporters (AVEX) Ramón Goyo Wednesday announced a 30% increase in sales abroad compared to 2020 figures, which has allowed producers to make up for a sharp decrease in domestic consumption.

• Thursday, December 16th 2021 - 09:17 UTC

  Venezuela, Belarus strengthen bilateral ties

  

  The Governments of Venezuela and Belarus agreed Wednesday to set up in Caracas the VIII High-Level Joint Committee between the two countries to foster trade agreements and bilateral ties, it was reported.