Economy

• Monday, December 28th 2015 - 07:31 UTC

  Argentina issues US$ 5bn in bonds to pay importers; some restrictions persist

  

  The Argentine government will issue bonds worth US$5 billion to be auctioned this week to pay back debt from imports during the previous Cristina Fernandez administration, according to a resolution published by the current government.

• Thursday, December 24th 2015 - 10:34 UTC

  Argentina begins round of negotiations on prices; unions demanding bonus to counter inflation

  

  The Argentine government of president Mauricio Macri started a round of negotiations with big price setters as part of its bid to keep prices under control despite the recent devaluation of the peso. Domestic Trade Secretary Miguel Braun and Central Bank Governor Federico Sturzenegger met with the top representatives of the Argentine Chamber of Commerce (CAC) and representatives from medium-sized companies, who asked for cheap credit in exchange for the government’s goal of keeping prices in check.

• Thursday, December 24th 2015 - 08:57 UTC

  Brazilian economy will contract 3.6% this year confirms Central bank

  

  Brazil's economy will shrink 3.6% this year and inflation will come in at 10.8%, according to a Central Bank report released Wednesday. The bank expects a continued recession in 2016, albeit with a less severe contraction of 1.9%, and an inflation rate of 6.2%.

• Wednesday, December 23rd 2015 - 10:07 UTC

  Brazil's Barbosa insists fiscal policies to shrink budget deficit “will be maintained”

  

  Brazil’s new finance minister, Nelson Barbosa, continued his effort to win over investors on Tuesday reiterating that the government of president Dilma Rousseff will maintain the same fiscal policies intended to shrink the budget deficit and cut debt that were favored by his predecessor.

• Wednesday, December 23rd 2015 - 09:17 UTC

  Macri's priorities: Mercosur, trade agreement with EU and the Pacific Alliance

  

  Argentine president Mauricio Macri pledged full support for Mercosur which he defined as a 'long term strategic project', called for a quick trade agreement with the European Union and closer ties with 'our partners from the Pacific Alliance'.

• Wednesday, December 23rd 2015 - 08:46 UTC

  Despite falling oil prices, Brazil is developing the equatorial Barreirinhas basin

  

  Inchcape Shipping Services (ISS), the world's leading maritime and logistics service provider, has signed a contract with CGG to provide offshore agency support services for a new oil and gas exploration project in the Barreirinhas Basin in the equatorial margin of northern Brazil.

• Tuesday, December 22nd 2015 - 15:29 UTC

  Chile calls for a South American convergence; pledges to bring together Mercosur and Pacific Alliance

  

  Chilean president Michelle Bachelet called for “a convergence among governments” of South America despite the “political and ideological differences”, and anticipated that Chile will strongly promote the rapprochement between Mercosur and the Pacific Alliance.

• Tuesday, December 22nd 2015 - 14:49 UTC

  Brazil's new minister promises the same Levy targets, but fails to convince investors

  

  Brazil's new finance minister sought to reassure investors on Monday as he took the reins of the recession-hit economy, but the Sao Paulo stock market and the Brazilian real both fell. In his first full business day on the job, Finance Minister Nelson Barbosa held a teleconference with international investors, promising to practice the same fiscal discipline as his predecessor, Joaquim Levy.

• Tuesday, December 22nd 2015 - 14:31 UTC

  Brazil welcomes and supports Macri's policies regarding the dollar and trade

  

  The Brazilian government has welcomed Argentina's realistic foreign exchange policy unifying the Argentine peso exchange rate, saying the latest economic measures taken by the Mauricio Macri administration will be “very positive” for the commercial relationship between the two countries.

• Monday, December 21st 2015 - 07:37 UTC

  Groundbreaking WTO agreement on elimination of agriculture export subsidies

  

  World Trade Organization, or WTO, reached a groundbreaking accord in Kenya on Saturday which obliges developed countries to eliminate subsidies for their agricultural exports as requested by the least developed nations to protect their farmers.