Economy

• Friday, March 26th 2021 - 10:03 UTC

  Brazil: over 100,000 new Covid-19 infections detected in just one day

  

  More than 100,000 Sars-CoV-2 infections in a 24-hour period were reported Thursday in Brazil for the first time since the beginning of the Covid-19 pandemic which has already killed over 300,000 people nationwide.

• Thursday, March 25th 2021 - 08:00 UTC

  Severe impact on world commerce: traffic at Suez Canal blocked as megaship runs aground

  

  A Panama-flagged cargo ship which ranks among the largest ever built, ran aground sideways late Tuesday in the Suez Canal, hindering all traffic in either direction.

• Wednesday, March 24th 2021 - 14:50 UTC

  China-backed railway projects gain momentum in Chile and Argentina

  

  The government of Chile Tuesday unveiled 15 brand new railway units made in China, with which the South American country intends to revamp its train service both for passengers and cargo.

• Wednesday, March 24th 2021 - 09:23 UTC

  Good negotiations between Argentina, IMF – but “dialogue will continue”

  

  Argentina's Economy Minister Martín Guzmán and International Monetary Fund (IMF) Managing Director Kristalina Georgieva, Tuesday met in Washington to discuss the renegotiation alternatives to the 2018 u$s 57 billion loans brokered by the administration of then-President Mauricio Macri.

• 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.