Economy

Friday, February 14th 2020 - 21:08 UTC
Fernandez insists Argentina needs more time to honor its debt with IMF

Argentine president Alberto Fernandez said that the country “needs more time” to honor its debt with the IMF and underlined he would like “a commitment of the Fund with Argentina”. He also welcomed what he described as a “common sense dialogue with the IMF mission” currently in Buenos Aires for a review of the country's finances and economic prospects.
Friday, February 14th 2020 - 20:46 UTC
Cristina Fernández/IMF controversy over the Fund's responsibility in Argentina' flight of capital

Argentine vice-president Cristina Fernandez de Kirchner insisted in her criticism of the IMF for the alleged violation of its statutes by awarding the previous Argentine administration of president Mauricio Macri a disproportionate credit, despite the fact the Fund rejected the accusation and ratified that no debt shaving is possible under its rules.
Friday, February 14th 2020 - 08:47 UTC
Brazil's Real among the worst performing currencies this year, shrinks 8%

Brazil’s currency fell below 4.35 reais per dollar for the first time this week, as weaker-than-expected retail sales figures gave renewed impetus to the selling that has picked up notable momentum in recent days.
Friday, February 14th 2020 - 08:40 UTC
Argentine inflation drops to 2.3% in January, helped by the freeze of several items

Argentina inflation decelerated to 2.3% in January, the official statistics agency said on Thursday, well below analyst expectations for a 3.4% rise.
Friday, February 14th 2020 - 08:28 UTC
Argentina anticipates rough times for bondholders in any of three possible economic scenarios

Argentina’s economy minister confirmed bondholders’ worst fears, telling them to brace for significant losses as the country restructures its debt amid an economic crisis. Martin Guzman warned that holders of Argentine debt will probably be disappointed by the restructuring, without providing specifics on how steep losses could be.
Friday, February 14th 2020 - 07:23 UTC
Falkland Islands announces partner to develop new port

The Falkland Islands Government (FIG) announced on Thursday it has selected a development partner to design and build a new port in Stanley Harbour. After an extensive global procurement process, FIG is pleased to announce that it has agreed to BAM Nuttall Ltd as its development partner, subject to successful conclusion of contract. The aim is for the contract to be agreed and signed by the end of March 2020.
Thursday, February 13th 2020 - 10:12 UTC
IMF mission begins talks in Argentina; Government presented his fiscal plan to Congress

Recession-hit Argentina opened talks on Wednesday with a team from the IMF, seeking relief from what President Alberto Fernandez says is an unsustainable foreign debt. The delegation, led by Julie Kozack and Luis Cubeddu, arrived in Buenos Aires for a week-long visit as left-wing groups staged public protests to demand a suspension of debt payments.
Thursday, February 13th 2020 - 10:08 UTC
Biggest smartphone conference in Barcelona cancelled because of coronavirus concerns

The biggest smartphone conference of the year was just canceled. The organizers of Mobile World Congress in Barcelona, GSMA, announced in a statement on Wednesday that the conference was canceled because of concerns about the coronavirus.
Thursday, February 13th 2020 - 10:08 UTC
Brazilian economic model is changing, “lower interest rates and a weaker Real”

Brazilian Economy minister Paulo Guedes said that the economic model has changed and no long is made up of high interest rates and a strong Real. His comments follow concerns that the exchange rate of the Real against the US dollar has been increasing sustainedly for the last few days.
Thursday, February 13th 2020 - 09:56 UTC
Suspects of journalist terrorist killing in Londonderry arrested and charged

Police in Northern Ireland on Wednesday charged a middle-aged man with the 2019 murder of journalist Lyra McKee, who was shot dead during rioting in the city of Londonderry.