Economy

• Saturday, August 15th 2020 - 09:32 UTC

  Argentina's social distancing extended until August 30; daily infections are above 7,000

  

  Argentina extended until Aug 30 restrictions taken against the coronavirus, President Alberto Fernandez said on Friday, underlining that the country's lockdown would continue in its current form in and around capital city Buenos Aires.

• Saturday, August 15th 2020 - 09:22 UTC

  Chile: some 14 million have received some form of social support

  

  Chilean President Sebastian Pinera said on Friday that more than one million people had received the government's US$ 626 spot payment aimed at staving off the economic effects of the coronavirus pandemic and it had approved more than 550,000 requests for soft loans of up to US$ 815.

• Friday, August 14th 2020 - 09:38 UTC

  Argentina inflation in July was 1,9% and the 12-month rate 42,4%

  

  Argentina's July inflation rate was 1.9%, the government's Indec statistics agency reported on Thursday, bringing the seven-month rate to 15,8% and the 12-month rate to 42.4%. During July the items which showed the main increase were Housing maintenance, 3,9% and Leisure and Culture, 3,3%, with a special emphasis in electronics and home appliances.

• Thursday, August 13th 2020 - 07:36 UTC

  Brazilian Executive and Legislative reaffirm economic reforms' commitment

  

  A series of high-profile resignations from Brazil’s economic team have left Economy Minister Paulo Guedes shaken but committed to keep pushing for reforms in the government. The losses are also the most visible sign yet that Guedes’ ambitious economic agenda is suffering a downgrade in size and scope, although his austerity drive received a crucial backing from President Jair Bolsonaro and congressional leaders.

• Thursday, August 13th 2020 - 07:30 UTC

  Goldman Sachs forecasts “record breaking contractions” in several of the region's economies

  

  As Latin America continues to battle the coronavirus outbreak, some economies in the region could see a “record-breaking contraction” not seen since World War II, according to investment bank Goldman Sachs.

• Thursday, August 13th 2020 - 07:15 UTC

  Main cruise lines estimate monthly losses of one billion dollars

  

  Carnival Corporation, Royal Caribbean Group and Norwegian Cruise Line Holdings are burning through over US$1 billion per month without revenue-generating cruises in service.

• Thursday, August 13th 2020 - 06:57 UTC

  Chilean central bank allowed to buy treasury bonds, as “a tool of exceptional use”

  

  Chile’s Congress has approved a law to allow the central bank to buy bonds issued by the country’s treasury in the secondary market, potentially giving the bank added firepower to help offset fallout from the COVID-19 crisis.

• Thursday, August 13th 2020 - 06:44 UTC

  Record debt in Brazil, but only 3% is in foreign currency and government trusts rock bottom rates global

  

  Brazil is amassing a record debt that has evoked memories of crises past in South America's largest economy, but some economists say rock-bottom interest rates and low foreign debt mean the government can continue to spend its way out of recession.

• Wednesday, August 12th 2020 - 09:59 UTC

  Investors are now focused on the IMF and Argentina’s fiscal policy, “which has been hard to come by”

  

  After reaching a US$ 65 billion restructuring agreement in principle with its creditors earlier this month, Argentina must now turn to relief from the International Monetary Fund to free up cash in the near term, the Institute of International Finance, IIF said on Tuesday.

• Wednesday, August 12th 2020 - 09:40 UTC

  Mounting job losses are expected as Britain winds down its job-retention scheme

  

  The number of people in work in Britain has suffered the biggest drop since 2009 and signs are growing that the coronavirus will take a heavier toll on the labor market as the government winds down its huge job-protection scheme.