Paraguay's Central Bank (BCP) will target a 4% inflation for the year 2023 after a slowdown has already been detected, BCP Chief Economist Miguel Mora said Wednesday. The monetary authority will also seek to guarantee price stability for local consumers despite a depreciation of the guaraní (₲) against the US dollar.
Brazil's Economy Minister Fernando Haddad said Tuesday after a meeting with International Monetary Fund (IMF) Managing Director Kristalina Georgieva that the agency was willing to help South America's largest country handle its fiscal situation, Agencia Brasil reported.
Argentina's Superminister of Economy, Agriculture, and Production Sergio Massa Wednesday announced he had instructed his team to launch a “debt repurchase” process for over US$ 1 billion “to improve the debt profile and continue lowering the country risk,” while bringing it closer to accessing foreign credit.
United Nations Secretary-General António Guterres denounced Wednesday during his appearance before the World Economic Forum (WEF) in Davos, Switzerland, that many countries were on the brink of recession, amid growing inflation in economies still to recover from the Covid-19 pandemic.
As Brazil continues to expand its agriculture frontiers and farming techniques, two cereals of which the country has been historically an importer are becoming increasingly self-sufficient. This is particularly true for wheat and rice, with most crops in the southern states of the country.
Latin America and the Caribbean value of goods exported during 2022 rose at an estimated 18.8% rate, which represents a downward trend in the region's commerce figures of some 27,8% when comparing 2021 with 2022, according to a report from the Inter American Development Bank, IDB.
Mercosur junior member Paraguay ended 2022 with a negative trade balance of US$ 1,288.9 million, as a result of a 16,1% increase in total imports according to the country's Central Bank, BCP.
Uruguay's Minister of Livestock, Agriculture, and Fisheries Fernando Mattos Tuesday announced that the Government of President Luis Lacalle Pou was extending the agricultural and livestock emergency until April.
The most widely spread exchange rate between the Argentine peso and the US dollar -known as blue - went up AR$ 8 Tuesday hitting a new all-time high of AR$ 378 = US$ 1, it was reported in Buenos Aires.
The President of Argentina, Alberto Fernández, highlighted Tuesday the growth of the Argentine economy in the last two years and valued the Government's progress in infrastructure.