Economy

Saturday, May 26th 2018 - 09:11 UTC
IMF/Argentina discussions to stabilize the economy are “progressing well”

“We are really moving ahead and we have committed to President Macri that we will do the best we can in order to move expeditiously and efficiently in order to change the perception about Argentina and the perception that people have about our role,” Ms Lagarde said in Russia.
Saturday, May 26th 2018 - 09:00 UTC
Truckers strike crippling Brazil, despite authorization to use military force to clear highways

A truckers protest over diesel prices that has crippled key sectors of Latin America's biggest economy dragged into Friday night, putting drivers in a standoff with Brazilian President Michel Temer who authorized military force to clear highways. The protest will stretch into its sixth day on Saturday.
Saturday, May 26th 2018 - 08:32 UTC
Odebrecht begins paying debts and fines following financial agreement

Brazilian conglomerate Odebrecht SA's will use part of a 2.6 billion reais (US$709.96 million) bank loan to repay a loan in arrears with state-controlled bank Banco do Brasil SA, according to sources quoted by Reuters. Under the terms of an agreement announced on Friday, the engineering group, at the center of a corruption scandal, will repay a 100 million reais debt to Banco do Brasil.
Saturday, May 26th 2018 - 08:32 UTC
Thousands march in Buenos Aires to protest Argentina's IMF credit bid

Thousands of Argentines on Friday protested the government’s bid to secure a credit line from the International Monetary Fund, which they blame for hardship during a past financial crisis. Opposition parties, unions, human rights organizations and artists took part in the march near the capital Buenos Aires’ emblematic obelisk, under the banner “the country is in danger.”
Saturday, May 26th 2018 - 08:16 UTC
Colombia invited to join OECD; third Latin American member with Mexico and Chile

The Organization for Economic Cooperation and Development (OECD) announced on Friday that Colombia would be officially invited to join the group. The Paris-based economic organization was founded in 1961 and has traditionally included industrialized nations, though in recent years it has extended its membership to emerging economies.
Saturday, May 26th 2018 - 07:58 UTC
South Korea and Mercosur agree in Seoul to begin formal negotiations for a free trade deal

South Korea and Mercosur agreed to begin formal negotiations for a trade deal in the latter half of this year to facilitate commerce and investment, the Seoul government said on Friday. South Korea signed an agreement to launch the negotiations with four Mercosur member states -- Brazil, Argentina, Paraguay and Uruguay -- during a ceremony held in Seoul. Mercosur expelled Venezuela in 2016 for failing to meet its basic standards.
Friday, May 25th 2018 - 08:56 UTC
Brazil agriculture fears consequences of a US/China trade understanding

The trade dispute between the United States and China has benefited Brazil so far but could prove harmful long term as higher grain prices will make the country’s exports less competitive, Brazil’s farm minister said. Brazil is the world's leading poultry exporter.
Friday, May 25th 2018 - 08:50 UTC
Brazil truckers strike: Government says a 15-day truce had been reached

Brazil's government said late Thursday that a deal had been reached with truckers to suspend a four-day-old strike that caused fuel shortages, cut into food deliveries, backed up exports and threatened airline flights.
Friday, May 25th 2018 - 07:47 UTC
Falkland Islands fisheries review recommends ITQs for Illex squid

Moving the Illex fishery into the ITQ system and improved catch verification requirements are among the recommendations made by an independent review of the Individual Transferable Quota (ITQ) system published by the Falkland Islands government, FIG, this week.
Thursday, May 24th 2018 - 08:44 UTC
Dollar/Peso challenge: Argentina offers to swap one-month Lebacs for long term papers

Argentina’s central bank moved on Wednesday to improve its debt profile by offering to swap some of its one-month Lebac securities for paper of longer duration, the bank said in a statement.