Economy

• Thursday, January 9th 2020 - 09:49 UTC

  Brazil after other markets if US and China agree on farm deal, mainly soybeans

  

  Brazil could lose some recent gains it made in the global soy market during the US-China trade war if those two countries reach a deal to end their dispute, a Brazilian Agriculture Ministry official said on Wednesday.

• Thursday, January 9th 2020 - 08:52 UTC

  Brazil anticipates record 2019/20 oilseed and grains crop: some 250 million tons

  

  Brazil's 2019-20 crop of grains and oilseeds is expected to reach a record of nearly 250 million metric tons, mainly driven by a sharp recovery in soybean production, even as inclement weather in southern regions of the country is raising concerns about the corn crop.

• Thursday, January 9th 2020 - 08:48 UTC

  Something smells rotten in Maputo: Russian bank suing Mozambique over US$ 2bn in loans

  

  Russian bank VTB is suing a Mozambique state-owned company over US$ 535 million it extended as part a series of loans now at the centre of a US$ 2 billion debt scandal. An online court filing dated Dec. 23 shows VTB has lodged a lawsuit in Britain’s High court against the Mozambique state and Mozambique Asset Management, which borrowed the money from VTB as part of a costly project that U.S. authorities say was an elaborate front for a bribery and kickback scheme.

• Thursday, January 9th 2020 - 08:35 UTC

  World Bank forecasts global expansion of 2.5% in 2020, but there are also too many uncertainties

  

  Global economic growth is likely to be only slightly faster this year than the weak 0performance seen in 2019, according to a World Bank forecast. The world economy is likely to expand by 2.5% in 2020, up from 2.4% last year, the Bank's economists predict.

• Wednesday, January 8th 2020 - 09:49 UTC

  S&P admits a mistake and raised its debt grade for Argentina to CCC

  

  S&P Global Ratings raised its debt grade for Argentina on Tuesday, acknowledging the agency made a mistake when it changed the rating in late December for the crisis hit country.

• Wednesday, January 8th 2020 - 09:46 UTC

  Chilean activity down and poor prospects for this year, following weeks of social unrest

  

  Economic activity in Chile dropped 3.3% in November, led by a slump in mining activity, the central bank has said, and officials predicted low growth for the coming year as the country reels from anti-government unrest. The prediction is based on Chile’s economic activity index or IMACEC (Indicador Mensual de Actividad Economica).

• Wednesday, January 8th 2020 - 09:45 UTC

  Argentina will begin distribution of food cards to low income families later this month

  

  Argentina's government will begin to distribute food cards to low-income families beginning later this month as part of its anti-hunger program. Social Development Minister Daniel Arroyo announced during a live presentation of Argentine Plan Against Hunger the government reached an agreement with the Governor Jorge Capitanich from the northern province of Chaco to fight with hunger.

• Wednesday, January 8th 2020 - 08:55 UTC

  Copper price unlikely to rebound in 2020 forecasts Chile's mining union

  

  The copper price is unlikely to rebound in 2020 even if trade tensions between the United States and China subside, the head of Chile mining trade union Sonami said on Tuesday.

• Tuesday, January 7th 2020 - 09:55 UTC

  Pompeo and Uruguay president elect Lacalle Pou look forward to a closer partnership

  

  United States Secretary of State Mike Pompeo spoke on Monday to Uruguayan president-elect Luis Lacalle Pou to congratulate him on his November 24 presidential election victory and to discuss expanding bilateral economic engagement and deeper political cooperation.

• Tuesday, January 7th 2020 - 09:18 UTC

  Bolsonaro will submit to Congress bill reducing the size of government

  

  Brazil's President Jair Bolsonaro told journalists on Monday that his administration will likely submit to the Congress in February a reform to reduce the size of the government, aiming to cut public spending.