Economy

• Tuesday, August 29th 2023 - 06:55 UTC

  Panama Canal restrictions expected to last for at least ten months; large containers to reroute to Suez Canal

  

  Global shipping has been urged to share transit plans at one of the world’s key maritime crossings following on Panama Canal Authority officials warning that water-conserving restrictions will be in place for at least the next 10 months, given this year's unprecedented drought which Panama is experiencing.

• Tuesday, August 29th 2023 - 06:28 UTC

  Chile expects a larger cherry harvest this season and increasing exports 20% is the goal

  

  Spring and summer are coming to the southern hemisphere and the Chilean Fruit Exporters Association, Asoex, anticipated that with the new season, the country can comfortably target a 20% target increase for Chilean cherries, (November to February).

• Tuesday, August 29th 2023 - 06:25 UTC

  Argentina has a medium term lithium export annual target of 400,000 tons

  

  Lithium exports from Argentina are poised to increase in the coming years, specifically from 34,000 tons to 400,000 tons of lithium carbonate, as mentioned by the Mining Secretary, Fernanda Ávila in Buenos Aires.

• Monday, August 28th 2023 - 11:29 UTC

  IMF report on Argentina calls for further expenditure control

  

  The latest International Monetary Fund (IMF) report on Argentina highlighted that the targets for reserve accumulation, fiscal deficit, and monetary financing of the deficit were missed “by wide margins.” As a result, imbalances have increased, so “further expenditure control will be needed throughout the election period.” The 1.9% GDP fiscal deficit target remained unchanged.

• Monday, August 28th 2023 - 09:00 UTC

  BRICS is the future, Bolivian FM says

  

  Bolivian Foreign Minister Rogelio Mayta insisted Sunndnay that his country was looking out “to the future and the future is BRICS,” the bloc made up of Brazil, Russia, India, China, and South Africa, to which six new members including Argentina will join effective Jan. 1, 2024.

• Monday, August 28th 2023 - 08:20 UTC

  Massa announces measures for the poorest leading up to the elections

  

  Argentina's Economy Minister and presidential candidate on behalf of the Ruling Unión por la Patria (UP) Sunday announced a series of measures towards improving the people's situation through the current crisis ahead of the Oct. 22 elections.

• Sunday, August 27th 2023 - 00:37 UTC

  Brighter future ahead for businesses in Latin America

  

  According to a study by the Fundação Getúlio Vargas (FGV) released Thursday, businesses in Latin America are up to their best level in two years after hitting unusual lows from the third quarter of 2022 through the second quarter of 2023.

• Sunday, August 27th 2023 - 00:22 UTC

  Uruguayan wages already at pre-pandemic levels, minister says

  

  Uruguay's Finance Minister Azucena Arbeleche Friday said her country's wages were competitive for workers and had already reached pre-pandemic levels and would hopefully continue to rise in the coming years.

• Saturday, August 26th 2023 - 19:18 UTC

  Chilean economy in recession: declines in consumption and investments

  

  Chile’s economy has contracted for three consecutive quarters, with significant weakness in household consumption and decline in investments. The last negative figure was reported last week by the Central Bank, showing GDP contracted by -1.1% over the same period between April and June 2023. previous year. 

• Saturday, August 26th 2023 - 19:03 UTC

  China insists in taking over Rio Grande port in Patagonia as established in a MoU with Tierra del Fuego

  

  One of Buenos Aires' main dailies, La Nacion, is reporting that China will not back down from its port plan in Patagonia, as promised by the regional and national governments. In early June, Argentine Governor of Tierra del Fuego Gustavo Melella revived an old controversy concerning a deal with a Chinese company to build a multipurpose port in Rio Grande