Argentine President Javier Milei told attendees at a ceremony in the Spanish capital that we come from the future to tell you a story that it is desirable to avoid: The story of the damage caused by socialism. He made those remarks in the presence of Madrid Community Chairwoman Isabel Díaz Ayuso, who granted him the International Medal of the Madrid Community decoration.
The Monetary Policy Committee (MPC) of Paraguay's Central Bank (BCP) unanimously decided Thursday to keep the benchmark interest rate at 6% for the fourth month in a row and found that cuts might be in order during the second semester of 2024 given the favorable economic indexes recorded recently.
Montevideo remained South America's most expensive place to live according to the Mercer Ranking released this week, closely followed by Buenos Aires, a place that has been moving up fast since President Javier Milei's Dec. 10, 2023, inauguration. The list helps multinational employers plan their strategies regarding compensations and other expenses, it was explained. Hong Kong stayed at the top, followed by Singapore, and Sitzerland's Zurich, Geneva, and Basel.
With budget overspending and prospects of higher inflation in weeks ahead, the Brazilian central bank, independent from the Executive, kept the Selic rate unchanged at 10.50%. This means there are no expectations for a resumption of the rates easing cycle this year.
Argentine President Javier Milei admitted that his country's process of curbing inflation would be making a pause from the 4.2% the National Institute of Statistics and Census (Indec) announced for May this year. In addition to a rebound in the decline, there will be no zero deficit, the Libertarian leader also admitted.
A recent increase in electricity bills has Chile's Central Bank needing to postpone getting the South American country's inflation under control, according to the Monetary Policy Report (IPoM) for June 2024 released Wednesday.
According to a report released this week by the Swiss Business School's Institute for Management Development (IMD), Brazil ranked 62nd this year after falling two notches in the list drawn considering statistics and opinion polls among businesspeople.
Paraguay's latest achievements as a top Latin American destination for foreign investments have been highlighted by One World Media. The outlet praised the South American country's macroeconomic and political stability coupled with its natural resources, strategic position, and gender equality regulations.
Monday's International Monetary Fund (IMF) projected a 3.5% drop in Argentina's economic activity this year from a previous 2.75% assessment but admitted inflation would be lower than previously thought reaching 140% year-on-year by the end of 2024 in addition to declining further in the medium term, as demand for pesos recovers from historically low levels.
Argentine President Javier Milei began mingling with the elite of the global leadership Friday at the exclusive Italian resort of Borgo Egnazia where the G7 Summit is taking place. Although the South American country is not a member of the group pitting together the seven largest world economies, he attended as a guest at the invitation of host Prime Minister Georgia Meloni who welcomed him personally.