Economy

• Wednesday, February 21st 2018 - 01:26 UTC

  Petro, the Venezuelan cryptocurrency is online

  

  The pre-sale of Petro began early on Tuesday, the cryptocurrency proposed by the Venezuelan government in recent weeks and backed by the country's natural resources. According to experts, it is “ridiculous”, arguing that the creation of a new currency would aggravate the economic crisis in the Caribbean country.

• Tuesday, February 20th 2018 - 10:18 UTC

  Vazquez in verbal clash with dissident farmers and loses his temper

  

  Uruguayan farmers are angry, and so is president Tabare Vazquez who was involved in a high tone incident, far removed from what is his normal style of an oncologist having to communicate bad news. On Monday afternoon Vazquez unexpectedly attended the first round of talks between disenchanted farmers’ lobbies with government officials to discuss a raft of measures to overcome some of the long standing complaints.

• Tuesday, February 20th 2018 - 09:43 UTC

  Brazilian government admits crucial pensions' reform will be hard to pass Congress

  

  Brazil’s political affairs minister Carlos Marun said on Monday that passage of a bill to overhaul the country’s costly social security system has effectively ground to a halt in Congress and would become a campaign issue in this year’s election.

• Tuesday, February 20th 2018 - 09:23 UTC

  Union leader political rally in Buenos Aires to challenge Macri and his policies

  

  The Argentine powerful teamsters union will be holding their first political rally in downtown Buenos Aires this Wednesday in a clear defiance of President Mauricio Macri's policies to combat inflation, launch the economy and attract foreign direct investors. Hugo Moyano a member of the unions' umbrella organization has promised to convene some 300.000 workers and has anticipated that any incidents will be the responsibility of the government.

• Tuesday, February 20th 2018 - 07:14 UTC

  Falklands' second commercial air link invitation delivered to Uruguay

  

  Representatives from Argentina and the United Kingdom formally delivered on Monday, to the Uruguayan foreign minister a letter jointly issued by the two governments requesting assistance in contacting local airlines and inviting them to communicate their interest in establishing a new weekly scheduled air service to and from the Falkland Islands.

• Monday, February 19th 2018 - 09:14 UTC

  Venezuela launches its “Petro” crypto-currency, backed with oil, on Tuesday

  

  Venezuela’s “Petro” crypto-currency will attract investments from Turkey, Qatar, the U.S., and Europe, the country’s crypto-currency regulator, Carlos Vargas, told reporters. The Petro will be offered for sale this Tuesday, February 20th, and comes as Venezuela is suffering from quadruple-digit inflation and chronic shortages of food and medicine.

• Monday, February 19th 2018 - 08:53 UTC

  Peru and Australia sign trade deal, which opens market for Aussie farm produce

  

  Australia and Peru have signed a new trade deal that is expected to lead to more local products - including beef, sugar, almonds and dairy - being sold in nation which is a full member of the Pacific Alliance.

• Saturday, February 17th 2018 - 09:55 UTC

  Argentine January inflation 1.8%; minister admits it is a slower pace than expected

  

  Argentina's Consumer Price Index (CPI) rose by 1.8% in January 2018, after increasing 3.1% in December 2017, said the country's statistics office Indec. Despite the deceleration, the reading was higher than market expectations for the monthly consumer price inflation (+1.5%). The result was primarily influenced by higher costs for entertainment and culture (+3.5%).

• Saturday, February 17th 2018 - 09:33 UTC

  European farm lobbies want no further agriculture concessions to Mercosur

  

  European farm lobbies Copa and Cogeca sent a letter to EU Commission President Jean-Claude Juncker opposing the EU move to give further concessions on agriculture in return for gains in other economic sectors to Mercosur.

• Saturday, February 17th 2018 - 09:29 UTC

  Canada will begin free trade talks with Mercosur in Paraguay on 9 March

  

  The Canadian government plans to open free trade talks with the four-nation Mercosur trading bloc in South America at a time when the future of NAFTA is facing increasing uncertainty. Canada sends around 75% of its goods exports to the United States and is looking for new markets to reduce the reliance on its southern neighbor.