Economy

• Saturday, August 26th 2023 - 18:56 UTC

  Brazil assessing risks and reactions from a sustained slowdown of China's economy

  

  The slowdown of the Chinese economy, where Brazil shipped 30% of its exports in the first seven months of the year are underscoring the nation’s substantial vulnerability to the fluctuations in the Asian giant, and President Lula da Silva electoral promises of a quick recovery to his followers.

• Saturday, August 26th 2023 - 16:44 UTC

  Main opposition candidates against Argentina joining BRICS

  

  Libertarian Congressman and Presidential candidate Javier Milei Thursday rejected Argentina joining the BRICS on the ground that “I will not promote a deal with Communists.”

• Thursday, August 24th 2023 - 11:46 UTC

  Argentina is invited to join BRICS along with six other countries

  

  The BRICS group, consisting of Brazil, Russia, India, China, and South Africa, has announced its plan to expand its membership by adding six new countries, including Argentina. The decision was revealed during a press conference jointly conducted by South African President Cyril Ramaphosa and leaders from the existing BRICS nations.

• Thursday, August 24th 2023 - 11:00 UTC

  Paraguay reforms Finance Ministry

  

  Paraguayan President Santiago Peña Wednesday signed into law a bill suppressing the Finance Ministry and creating a Ministry of Economy and Finance instead, it was reported in Asunción. The motion had been passed by the Lower House earlier this month.

• Thursday, August 24th 2023 - 10:58 UTC

  IMF Board approves US$ 7.5 bn disbursement for Argentina

  

  The International Monetary Fund's (IMF) board of directors Wednesday approved a US$ 7.5 billion disbursement for Argentina, the South American country's Economy Minister and presidential candidate Sergio Massa announced from Washington DC. The decision was adopted unanimously, it was also explained.

• Wednesday, August 23rd 2023 - 10:56 UTC

  Massa gets loans from IDB and WB ahead of IMF meeting

  

  The Inter-American Development Bank (IDB) and the World Bank (WB) will grant Argentina additional financing of US$ 1,300 million, Economy Minister and presidential candidate Sergio Massa announced Tuesday from Washington DC.

• Wednesday, August 23rd 2023 - 10:56 UTC

  Uruguayan unions go on strike, again demanding shorter working hours and wage increases

  

  Uruguay's trade union central, the PIT-CNT, carried out this Tuesday a partial four-hour strike with a mobilization, in which it again called for a law to reduce the working day from 48 to 40 hours a week.

• Wednesday, August 23rd 2023 - 10:55 UTC

  Argentina: Sharp drop in mass consumption reported

  

  Private studies released Tuesday in Buenos Aires showed a 16.1% drop in mass consumption in the first week of August, which further aggravated July's 15.8%, the Buenos Aires daily La Prensa reported.

• Wednesday, August 23rd 2023 - 09:00 UTC

  Unemployment keeps dropping in Uruguay

  

  Unemployment in Uruguay fell yet again last month to stand at 7.8%, according to a report released Tuesday in Montevideo by the National Statistics Institute (INE). Thus, the drop from June's figures was 0.4% for a total of some 144,400 jobless people in the South American country from 152,500 the month before.

• Wednesday, August 23rd 2023 - 07:30 UTC

  Panama Canal limits transit of vessels because of a severe drought

  

  On both sides of the Panama Canal, fleets of ships find themselves immobilized, delayed by weeks as waterway authorities have slowed traffic to conserve water amid a severe drought. A report from the Brazilian news agency O-Globo gives a detailed picture of what is happening.