Economy

Wednesday, November 25th 2020 - 09:04 UTC
Markets reach new records in Wall Street on Covid-19 vaccines optimism

The Dow Jones Industrial Average breached the 30,000-mark for the first time on Tuesday, as optimism that COVID-19 vaccines will open the way to economic recovery next year fueled Wall Street’s rebound from a pandemic-driven crash this year.
Tuesday, November 24th 2020 - 09:26 UTC
Peru placed a US$ 1 billion 100-year bond at a coupon rate of 3,23%

Peru said on Monday an eager market had soaked up its offer of US$ 4 billion worth of debt, including a rare century bond, as the world´s No. 2 copper miner scrambles to raise funds to soften the economic fallout from the coronavirus crisis.
Tuesday, November 24th 2020 - 09:22 UTC
Chile expects a bull market for copper next year

Chile’s copper production will likely rise by 0.6% to 5.82 million tons in 2020, state copper commission Cochilco said on Monday, and to 5.99 million tons in 2021. Cochilco estimated that the copper price will average US$ 2.75 per pound in 2020, before rising to US$ 2.90 per pound in 2021.
Tuesday, November 24th 2020 - 09:06 UTC
Janet Yellen, ex-Fed chair expected to become next Treasury Secretary

Former Federal Reserve Chair Janet Yellen will serve as the 78th Treasury Secretary of the U.S., the Wall Street Journal reported Monday afternoon, citing people familiar with President-elect Joe Biden’s transition team.
Monday, November 23rd 2020 - 09:20 UTC
Britain and Canada announce a new trade deal, the new formal pact will be negotiated next year

Canada and Britain have struck a new trade deal, beating the Dec. 31 Brexit deadline that would have triggered new tariffs on a range of Canadian exports. The interim deal will replace Canada’s current agreement with Britain under the European Union that currently covers trade between the two countries until a new formal pact can be negotiated in the coming year.
Saturday, November 21st 2020 - 09:54 UTC
“Good progress” in Argentina/IMF negotiations for an Extended Fund Facility

”Good progress” has been made in parts of a new program between the International Monetary Fund and Argentina, IMF officials said in a statement on Friday. An IMF team visited Argentina to begin discussions on repackaging some US$ 45 billion the country owes the Fund.
Saturday, November 21st 2020 - 09:44 UTC
New Peruvian government silent about a second withdrawal of funds from the pension system

The Peruvian government enacted a law that allows citizens a second withdrawal of funds from the private pension system in order to ease the economic blow from the coronavirus pandemic, according to the official newspaper El Peruano.
Saturday, November 21st 2020 - 09:04 UTC
G-20 committed to support vulnerable countries beyond a temporary foreign debt freeze

The Group of 20 (G-20) nations are determined to continue doing everything possible to contain the Covid-19 pandemic, warning in a draft communiqué that the global economic recovery remains “uneven, highly uncertain, and subject to elevated downside risks”.
Friday, November 20th 2020 - 09:30 UTC
Thousands of students, despite restrictions, protest in Colombia's main cities

Thousands of workers and students protested in Colombia on Thursday against the social and economic policies of President Ivan Duque, despite restrictions to control the spread of the coronavirus pandemic.
Friday, November 20th 2020 - 09:20 UTC
Peruvian government names respected finance minister to shore up investor confidence

Peru’s interim president appointed veteran economist Waldo Mendoza as his finance minister in a bid to shore up investor confidence shaken by political turmoil. Interim President Francisco Sagasti swore in most of his 19-member ministerial team on Wednesday after becoming the country’s third leader in little more than a week.