Economy

• Friday, April 24th 2020 - 08:28 UTC

  Brazil's Real remains at record low: overstretched budget and another interest rate cut next week

  

  Brazil's Real eyed a fresh record low on Thursday, while other Latin American currencies were muted as markets mulled over increasingly dire economic readings due to the coronavirus.

• Friday, April 24th 2020 - 08:25 UTC

  With oil royalties plummeting, Rio state challenged by investment funds

  

  Already grappling with one of Brazil’s most severe outbreaks of the novel coronavirus and a budget deep in the red, Rio de Janeiro state faces a potential threat to its solvency at the hands of investment giants PIMCO and Dodge & Cox.

• Thursday, April 23rd 2020 - 11:17 UTC

  Argentina misses US$ 500 million payment on Wednesday; default by end of May?

  

  Argentina said it didn’t make US$ 500 million in debt payments due Wednesday, starting a 30-day countdown to a possible default unless the government and bondholders can reach a deal on restructuring its massive foreign debt.

• Thursday, April 23rd 2020 - 11:05 UTC

  Argentina's foreign trade during March dropped 17,6%

  

  Data released on Wednesday by the National Institute of Statistics and Censuses (Indec) of Argentina showed that its foreign trade with other countries fell 17.6% in March, compared to year-ago. The trade flow reached US$7.49 billion, in the third month of the year.

• Thursday, April 23rd 2020 - 10:55 UTC

  China pork imports expected to reach 2.8 million tons this year

  

  China expects to import more soy and pork this year to supply domestic demand, after the coronavirus pandemic and the impacts of swine fever decimated its pig herds. Meanwhile, soy imports are estimated to reach 92.48 million tons this year.

• Thursday, April 23rd 2020 - 10:52 UTC

  Brazil orange juice 2019/20 harvest exports increased 18% in volume and 6% in value

  

  Total Brazilian orange juice exports (FCOJ Equivalent to 66º Brix) registered an 18% increase in the first nine months of the 2019/20 harvest compared to the same period in the previous harvest. A total of 861,700 tons were shipped during the period, compared to 732,048 tons during the same period of the 2018/19 harvest. Revenues increased 6% to a total of US$1.445 billion compared to US$1.369 billion in the previous harvest.

• Thursday, April 23rd 2020 - 09:20 UTC

  Brazilian currency falls to an all-time low of 5,40 to the US dollar; this year it has lost 25% of its value

  

  Brazil’s Real fell on Wednesday to a fresh all-time low close to 5.40 per dollar, as expectations intensified that the central bank will cut interest rates significantly in the coming weeks to combat the coronavirus-fueled economic crisis.

• Thursday, April 23rd 2020 - 08:59 UTC

  Falklands' government will buy unsold wool clip in support of producers

  

  The Falkland Islands government announced on Wednesday a support program for wool producers and their unsold clip in light of the COVID-19 pandemic. For that purpose, it has authorized the Department of Natural Resources to develop a program to purchase the unsold wool, in a one-time offer, with the price set at March 20.

• Thursday, April 23rd 2020 - 08:46 UTC

  The Short-term Liquidity Line: A New IMF Tool to Help in the Crisis

  

  By Geoffrey Okamoto – The COVID-19 pandemic has severely disrupted the global economy at every level. Across the world, financial conditions have tightened dramatically, with unprecedented portfolio outflows from emerging markets in terms of both size (a record of about US$100 billion) and speed, and markets effectively frozen in some cases. This has created sizable demand for U.S. dollar liquidity, with emerging markets facing sharp liquidity shortages.

• Wednesday, April 22nd 2020 - 08:54 UTC

  Another MPC member tests positive for COVID-19; Falklands' building industry resumes this Wednesday

  

  The Falkland Islands government reported on Tuesday that the latest test results received by KEMH have shown one positive case for COVID-19 out of 18 swabs tested. The positive was for an individual at Mount Pleasant Complex, who is in isolation as part of the on-going MPC arrangements for dealing with cases.