Economy

• Saturday, April 25th 2020 - 08:58 UTC

  COVID-19 K.O. for travel and tourism industry: 100 million jobs on the line

  

  The Travel & Tourism sector faces a staggering 100 million jobs losses due to the COVID-19 pandemic, according to the World Travel & Tourism Council, WTTC. The startling figure, based on research from WTTC, has increased by over 30% in the last four weeks, indicating the sheer crisis affecting the sector.

• Saturday, April 25th 2020 - 08:57 UTC

  Brazil in turmoil following the resignation of Moro complaining of “political interference” from Bolsonaro

  

  Sergio Moro, Brazil's justice and security minister resigned on Friday after clashing with President Jair Bolsonaro over the sacking of the federal police chief. Moro, a former anti-corruption judge, hit out at “political interference” in the federal police, saying he could not do his job without “autonomy” for the force.

• Saturday, April 25th 2020 - 08:50 UTC

  Brazilian stocks plunge 9.6% and the Real sets a new record low

  

  Brazilian stocks sank as much as 9.6%, and the Real slid to new lows on Friday as political turmoil in the country added to mounting concerns over the coronavirus outbreak, while risk aversion ravaged Latin American markets.

• Friday, April 24th 2020 - 08:55 UTC

  IMF holding productive talks with Argentina; expects an accord with private creditors can be reached

  

  The International Monetary Fund’s discussions with Argentina have been very productive and the fund is willing to do whatever it can to help get the Argentine economy back on a solid footing, an IMF official told reporters.

• 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.