Economy

• Wednesday, July 22nd 2020 - 08:10 UTC

  Argentine debt negotiations: Cristina Fernandez praises Minister Guzmán's performance

  

  Argentine vice-president Cristina Fernandez de Kirchner praised Minister of Economy Martin Guzmán statements during a television program in Buenos Aires and described he was “clear as crystal water”, in his replies

• Wednesday, July 22nd 2020 - 08:06 UTC

  Putin approves a US$ 4bn loan to Venezuela

  

  Russian President Vladimir Putin has signed a law ratifying the protocol to the intergovernmental agreement on providing a loan to Venezuela by Moscow, which guarantees timely debt repayment to Russia.

• Wednesday, July 22nd 2020 - 08:00 UTC

  Parana river insufficient water level benefitted exports from Brazilian ports

  

  Due to the Paraná river drought, which affected Argentina’s soy oil-exporting capacity, Cattalini Terminais Marítimos, which handles almost 70% of Brazil’s soy oil exports through its facilities in the port of Paranaguá, predicts a 25% increase in shipments this year.

• Tuesday, July 21st 2020 - 08:55 UTC

  Argentine president tells creditors: “It is impossible for us to move from the last offer”

  

  Argentine president Alberto Fernandez on Monday dismissed a counter-offer from three groups of creditors who said they had rejected the country's proposal to restructure US$ 66 billion of debt.

• Tuesday, July 21st 2020 - 08:45 UTC

  Ecuador closer to reach a US$ 17,4bn debt overhaul agreement with bondholders

  

  Ecuador pushed forward with its debt overhaul plans on Monday, requesting a vote among its creditors on reconfiguring the terms of US$ 17.4 billion of its external bonds, with its largest group of creditors backing the proposal.

• Monday, July 20th 2020 - 09:59 UTC

  EU's “Frugal Five” blocking of recovery plan, anticipates difficulties to finalize accord with Mercosur

  

  The emergence of the so-called “Frugal Five” led by Austria and Netherlands, has blocked so far the European Union recovery plan, with a massive injection of funds, and forebodes hard times to finally reach the implementation of an EU trade agreement with Mercosur.

• Monday, July 20th 2020 - 09:29 UTC

  Brazilian oil industry showing resilience to coronavirus pandemic despite fall in investment

  

  By Matthew Smith for Oilprice.com – Before the outbreak of COVID-19 and the oil price war between Saudi Arabia and Russia, an oil boom of monumental proportions was underway in Brazil, Latin America’s largest economy. Economists and industry analysts as far back as 2018 were speculating that it would be the largest in Latin America’s history. There were even signs that Brazil’s burgeoning oil production could challenge OPEC’s wanning supremacy.

• Monday, July 20th 2020 - 09:14 UTC

  Half of UK's biggest companies estimate business recovery in the second half of 2021, Deloitte

  

  Nearly half of Britain's biggest companies think it will take until the second half of 2021 before business recovers from the coronavirus pandemic, according to a survey on Monday that cast doubt on hopes for a speedier rebound.

• Saturday, July 18th 2020 - 09:14 UTC

  Argentina's bill to restructure public debt in dollars issued under local law

  

  Argentina’s government sent a bill to Congress late on Thursday night laying out its plans to restructure public debt in dollars issued under local law, offering creditors new instruments in both foreign currency and pesos.

• Saturday, July 18th 2020 - 09:05 UTC

  Cuba devalues its currency and makes the US dollar legal tender for shopping

  

  Cuba said this week it will allow some stores to sell food, personal hygiene and other consumer goods in U.S. dollars and will eliminate a 10% tax on the greenback, an effort to rake in more hard currency to purchase goods abroad.