Economy

• Friday, February 7th 2020 - 09:35 UTC

  Brazil's development bank BNDES sells shares in Petrobras

  

  Brazil's development bank BNDES sold US$5.2 billion in common shares it owned in state-controlled oil company Petrobras. The company priced the offering at 30 Reais per common share, a discount of 1.57% relative to Wednesday's closing price. BNDES sold 22 billion reais in shares.

• Thursday, February 6th 2020 - 09:05 UTC

  Argentina tells IMF it can't continue servicing unsustainable debt

  

  Argentina on Wednesday told the International Monetary Fund that Buenos Aires cannot continue servicing unsustainable debt, as the IMF encouraged it to enact efficient restructuring policies.

• Thursday, February 6th 2020 - 08:58 UTC

  Pope Francis calls for debt sustainability to alleviate the suffering of people

  

  Pope Francis staged a surprise visit to admonish the International Monetary Fund chief and several finance ministers to help alleviate the debt burden of struggling countries, calling for “a new financial architecture” to ensure social justice.

• Thursday, February 6th 2020 - 08:44 UTC

  Statement by IMF Managing Director Kristalina Georgieva on Argentina

  

  Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), issued the following statement after meeting with Argentina’s Economy Minister Martin Guzmán in Rome:

• Thursday, February 6th 2020 - 08:24 UTC

  Argentina industrial production up 1.2% in December, first time in 20 months

  

  Argentina's industrial output rose 1.2% in December versus the same month a year earlier, the government statistics agency said on Wednesday, returning to positive territory for the first time in 20 months as the country grapples with the recession.

• Thursday, February 6th 2020 - 08:17 UTC

  Brazilian central bank cuts interest rate to 4.25%, but the easing cycle could be coming to an end

  

  Brazil’s central bank intends to hold interest rates going forward to consider the impact of the record-breaking monetary easing cycle it concluded on Wednesday with a quarter-point cut.

• Wednesday, February 5th 2020 - 09:49 UTC

  Buenos Aires province narrowly averts default: governor Kicillof promises to pay

  

  Argentina's Buenos Aires province narrowly averted falling into default on Tuesday, saying it would make a US$ 277 million payment on a 2021 bond after creditors would not grant a last-minute approval to delay it.

• Wednesday, February 5th 2020 - 09:43 UTC

  Argentina's Economy minister holds “very constructive” talks with IMF chief

  

  Argentina’s Economy Minister Martin Guzman met the head of the International Monetary Fund Kristalina Georgieva for two-and-a-half hours on Tuesday to discuss the country’s economic emergency, the ministry said.

• Wednesday, February 5th 2020 - 09:02 UTC

  Royal Caribbean cancels cruises out of China until March 4

  

  Royal Caribbean Cruises has cancelled eight cruises out of China through March 4 in response to the coronavirus outbreak in the world's second-largest economy, the company said on Tuesday. The company said it expects the cancellations and some modifications to its itineraries to reduce earnings by 25 cents per share.

• Wednesday, February 5th 2020 - 08:40 UTC

  US Environmental Protection Agency states that glyphosate in not a carcinogenic

  

  The US Environmental Protection Agency said it finished a regulatory review that found glyphosate, the most widely used weed killer in the United States, is not a carcinogen.