Economy

• Saturday, March 20th 2021 - 08:44 UTC

  G7 finance ministers agree on “a new and sizeable” increase in IMF capital; US demands transparency

  

  REUTERS – The world's seven largest advanced economies have agreed to support the first expansion of the International Monetary Fund's reserves since 2009, a step meant to help developing countries cope with the coronavirus pandemic, Britain announced on Friday.

• Friday, March 19th 2021 - 09:10 UTC

  Banco do Brasil CEO resigns after clashing with Bolsonaro over an austerity plan to close 200 branches

  

  Brazil’s largest state bank CEO quit on Thursday after crashing earlier this year with President Jair Bolsonaro over an austerity drive. Andre Brandao resigned as chief executive officer of Banco do Brasil SA, the nation’s second-biggest bank by assets, the company said in a regulatory filing.

• Thursday, March 18th 2021 - 09:20 UTC

  Argentine economy minister to meet IMF in Washington; no deal expected in May

  

  Argentina's Economy Minister Martin Guzmán traveled to New York on Wednesday night to meet investors before heading to Washington for talks with the International Monetary Fund, a government source said.

• Thursday, March 18th 2021 - 08:53 UTC

  YPF hikes fuel prices 7% to help finance an ambitious investment plan to boost crude production

  

  YPF, the biggest oil producer in Argentina, said on March 16 that it hiked diesel and gasoline pump prices by 7%, helping to finance a US$2.7 billion investment plan to boost crude output.

• Thursday, March 18th 2021 - 08:51 UTC

  Fed sees no interest rate hikes likely through 2023; US GDP expected to increase 6,5% in 2021

  

  The Federal Reserve on Wednesday sharply ramped up its expectations for economic growth but indicated that there are no interest rate hikes likely through 2023 despite an improving outlook and a turn this year to higher inflation.

• Wednesday, March 17th 2021 - 09:05 UTC

  Brazilian economic activity recovers to pre-pandemic level

  

  Brazilian economic activity rose sharply in January, a central bank index showed on Monday, indicating that Latin America’s largest economy has not only recovered all its pandemic-related decline but is now back to the size it was over five years ago.

• Tuesday, March 16th 2021 - 09:53 UTC

  Argentina industrial output forecasted to increase 6% this year over 2020

  

  Argentina's Ministry of Development and Production anticipated that the country's industrial output should grow more than 6% this year compared to 2020. Economist Matias Kulfas said he expected Argentina's economy as a whole to expand 5% to 6% during the year, based on preliminary data and depending on how the novel coronavirus and vaccination campaign evolves and its impact on growth.

• Tuesday, March 16th 2021 - 09:14 UTC

  EU launches legal action against Britain over Northern Ireland and alleged Brexit accord breach

  

  The European Union launched legal action against Britain on Monday for unilaterally changing trading arrangements for Northern Ireland that Brussels says breach the Brexit divorce deal agreed with London last year.

• Monday, March 15th 2021 - 09:50 UTC

  Mercosur 26th March summit to be held on line, because of sanitary situation in the region

  

  The Mercosur face-to-face presidential summit scheduled for 26th March originally planned to take place in Argentina that currently holds the rotating chair of the block, will be held online because of the sanitary situation in the region.

• Monday, March 15th 2021 - 09:24 UTC

  A no deal of Argentina with IMF this year, not so bad after all according to Morgan Stanley

  

  International Investment Bank Morgan Stanley has shifted its long-held view on Argentina sovereign credit to “like,” as risks were flexed upside after a lot of bad news had been priced into bonds, including, increasingly, a delay to an IMF program and a further complication with the Club of Paris payment.