Economy

• Saturday, October 24th 2015 - 09:11 UTC

  Wealthy nations expenditure on its farmers far outstrips global food aid

  

  Wealthy nations spend 20 times more on farm subsidies than the US$12 billion they allocate to food aid and support for poor farmers annually, John McArthur, a senior fellow with the Brookings Institution, the think-tank which led the new research, said.

• Friday, October 23rd 2015 - 08:39 UTC

  Judge Griesa rules in favor of 'me too' Argentine bond holders suing for full payment

  

  U.S. judge ruled on Thursday that holders of $234 million in defaulted Argentine bonds suing for full payment had been treated unequally to creditors who had participated in the country's past restructurings.

• Friday, October 23rd 2015 - 08:35 UTC

  Concerns over Euro low inflation; ECB plans to re-examine stimulus program

  

  The European Central Bank (ECB) says it will “re-examine” its €1.1 trillion quantitative easing (QE) stimulus program at its December meeting. It has embarked on a scheme of bond purchases at €60bn per month designed to bring Euro zone inflation back up.

• Friday, October 23rd 2015 - 08:30 UTC

  Rousseff admits massive budget deficit this year; estimates are of 9% of GDP

  

  Brazil has given up on its goal of seeking a primary budget surplus this year and instead will record a massive shortfall as a deepening economic and political crisis drags on revenues, presidential chief of staff Jaques Wagner said on Thursday. Brazil's overall budget deficit has soared to 9% of GDP, according to estimates.

• Thursday, October 22nd 2015 - 07:42 UTC

  Latin America's 2013/15 exports, worst performance in eight decades says ECLAC

  

  The value of Latin America’s exports will continue to decline through 2015 by 14%, with Argentina faring slightly worse with a reduction of 17%, says the UN Economic Commission for Latin America and the Caribbean (ECLAC) report, which also indicated that the value of imports to Argentina are set to fall by a smaller 10%.

• Thursday, October 22nd 2015 - 07:09 UTC

  Brazil leaves Selic rate unchanged at 14.25%; inflation the target but with no timetable

  

  Brazil's central bank kept interest rates on hold on Wednesday, for a second straight month despite a jump in inflation expectations. The decision not to raise rates will give a breather to President Dilma Rousseff, who is fighting for her political survival amid the country's worst economic and political crisis in 25 years.

• Thursday, October 22nd 2015 - 06:51 UTC

  Venezuela's proposal to cut oil production and up prices receives little echo

  

  Russia and Mexico – non-OPEC countries, which have been invited to participate Venezuela-proposed meeting this week – have no intention to cut oil production, International Oil Daily reported.

• Wednesday, October 21st 2015 - 07:01 UTC

  Batakis 'the Greek' and York graduate, Argentina's next Economy minister if Scioli wins

  

  An environment economist graduated in York University could be Argentina's next Economy minister, if the incumbent candidate Daniel Scioli is finally elected next Sunday, or in a runoff a month later. Silvina Batakis, 'the Greek' is currently governor Scioli's economy minister in the province of Buenos Aires and was confirmed for that post this week.

• Wednesday, October 21st 2015 - 06:35 UTC

  Venezuela presents 2016 budget based on a US$40 per barrel estimate

  

  Venezuela's proposed 2016 government budget is based on an estimate of $40 per barrel for the OPEC nation's oil exports, Finance Minister Rodolfo Marco said in a presentation to congress on Tuesday.

• Tuesday, October 20th 2015 - 06:05 UTC

  Dollar reaches new record in Argentina, as Sunday's Election Day approaches

  

  The US dollar in Argentina ended trading on Monday at 9.51 Pesos in banks and foreign exchange agencies while the parallel exchange rate or 'blue' continued to grow and ended 17 cents higher at 16.11 Pesos in underground houses, hitting a new record high.