Economy

• Thursday, June 18th 2020 - 12:36 UTC

  Brazil retail sales plunge in April anticipating a major contraction of the economy

  

  Brazilian retail sales plunged at a record pace in April as social isolation measures choked spending, official figures showed indicating the economy’s contraction in the second quarter could be even more severe than anticipated.

• Thursday, June 18th 2020 - 12:32 UTC

  Brazil slashes benchmark interest rate 75 basis points to a record low of 2,25%

  

  Brazil’s central bank cut its benchmark interest rate by 75 basis points to a record low of 2.25% on Wednesday, as expected, and said there was some room left for further monetary stimulus to support an economy ravaged by the coronavirus pandemic.

• Thursday, June 18th 2020 - 12:29 UTC

  Brazil's service sector slumped 11,7% in April on a year on year basis

  

  Services activity in Brazil slumped 11.7% in April, figures showed on Wednesday, the biggest fall since comparable record-keeping began nearly a decade ago as social isolation measures to combat the COVID-19 outbreak slammed the economy into reverse.

• Thursday, June 18th 2020 - 11:15 UTC

  EU conditions post-Brexit UK talks and looks ahead to three months of intense discussions

  

  The European Union's chief executive, Ursula von der Leyen, said on Wednesday that the bloc will do its best to seal an agreement on new ties with Britain by the end of the year but will not compromise its core values, notably on fair competition.

• Wednesday, June 17th 2020 - 17:51 UTC

  Trump administration nominates White House official to lead the Inter American Development Bank

  

  The Trump administration announced it plans to nominate the top White House official for Latin America to lead the Inter-American Development Bank, aiming to break a six-decade tradition of choosing the bank's leadership from candidates in that region.

• Wednesday, June 17th 2020 - 12:09 UTC

  Investment inflows to Latina America forecasted to halve from US$ 164 billion

  

  Investment flows to Latin America are expected to halve in 2020 from the US$ 164 billion received last year, according to UNCTAD's World Investment Report 2020.

• Wednesday, June 17th 2020 - 08:35 UTC

  Chile's government agrees with opposition US$ 12bn stimulus package

  

  Chile’s government reached a deal with opposition lawmakers for a US$ 12 billion stimulus package over the weekend as infections hit a record and the health minister quit.

• Wednesday, June 17th 2020 - 08:26 UTC

  Peru's economic activity plunges 405% year on year in April

  

  Peru´s economic activity sank 40.49% year-on-year in April, its worst-ever percentage drop in output, as a national lockdown to combat the coronavirus slammed the brakes on industry across the country, the government said.

• Wednesday, June 17th 2020 - 08:22 UTC

  Argentina extends confidentiality agreements with creditors for one day

  

  Argentina has extended confidentiality agreements with creditors by one day to allow further negotiations as the two sides seek a last-ditch agreement to restructure around US$ 65 billion in debt.

• Tuesday, June 16th 2020 - 11:55 UTC

  Argentina and main creditors on the last leg of negotiations: reviewed exchange of payment proposals

  

  Some of Argentina’s largest creditors presented a new debt proposal to the government over the weekend as the two sides edge closer to a US$ 65 billion restructuring deal, according to people familiar with the matter.