Economy

• Wednesday, January 27th 2021 - 08:35 UTC

  IMF, despite pandemic challenges, forecasts a strong economic rebound this year

  

  The global economy is set to lose over US$ 22 trillion between 2020 and 2025, due to the impacts of the coronavirus pandemic the International Monetary Fund (IMF) said on Tuesday. The economy will likely see a strong rebound this year, but the pandemic is causing severe damage said IMF chief economist Gita Gopinath.

• Tuesday, January 26th 2021 - 09:27 UTC

  ILO: Pandemic in 2020 has caused massive loss of working hours, equivalent to 255 million full time jobs

  

  Tentative signs of recovery are emerging in global labor markets, following unprecedented disruption in 2020 due to the Covid-19 pandemic, according to the latest report from the International Labour Organization, ILO.

• Tuesday, January 26th 2021 - 09:24 UTC

  “Journey of recovery” in 2021 will be accompanied by a high level of uncertainty, Christine Lagarde

  

  Christine Lagarde, president of the European Central Bank (ECB), said on Monday that the “journey to recovery” in 2021 would most likely be accompanied by a “very high level of uncertainty” before a transition to a “new economy.”

• Tuesday, January 26th 2021 - 09:21 UTC

  Janet Yellen Secretary of the Treasury: ample bipartisan support

  

  By an overwhelming majority, the United States Senate voted on Monday to confirm Janet Yellen as the 78th Secretary of the Treasury. Yellen, 74, is the first woman to hold the position in the Treasury’s 231-year history, and only the second person to ever have served as both Federal Reserve chair and Treasury Secretary.

• Tuesday, January 26th 2021 - 09:14 UTC

  “Buy American”, one of the lessons learnt from the pandemic, Biden underlines

  

  United States President Joe Biden on Monday signed a “Buy American” executive order to ensure that the federal government invests taxpayers' money on U.S.-made goods in an effort to revitalize the country's manufacturing industry and resilient supply chains.

• Monday, January 25th 2021 - 08:15 UTC

  Global FDI collapsed in 2020, down 37% for Latin America, and 2021 does not look much better, UNCTAD

  

  Global foreign direct investment (FDI) collapsed in 2020, falling 42% from US$ 1.5 trillion in 2019 to an estimated US$ 859 billion, according to a UNCTAD Investment Trends Monitor released on Sunday.

• Friday, January 22nd 2021 - 09:31 UTC

  Fitch forecasts Latin American economies will rebound but with downside risks

  

  Fitch Ratings forecasts Latin American economies will rebound this year from the 2020 recession but risks remain in particular because of the evolution of the COVID-19 pandemic.

• Friday, January 22nd 2021 - 08:32 UTC

  Brazil keeps Selic rate at 2%, but uncertainty about economic growth remains

  

  The Brazil Central bank rate setting committee, Copom, unanimously decided on Wednesday to maintain the Selic rate at 2.00% for the fourth time running, but anticipating that inflation expectations for the next two years have risen and uncertainty surrounds the Brazilian economy in the short term.

• Thursday, January 21st 2021 - 09:20 UTC

  Argentina ended 2020 with a 6,5% of GDP budget primary deficit

  

  Argentina's 2020 budget primary deficit reached 6,5% of GDP, according to a release from the Economy ministry, while the overall deficit was equivalent to 8,5% of GDP, given the massive support to the government to address the pandemic a recession.

• Thursday, January 21st 2021 - 09:06 UTC

  Teamsters protesting and blocking Argentine highways threaten domestic supplies and grain exports

  

  For the fourth day running independent teamsters are blocking roads in Argentina as part of a protest over what they describe fuel prices, exorbitant taxes, and highway tolls. The lockdown threatens the export of grains and oilseeds, CIARA-CEC the industry chamber said.