Economy

Monday, January 25th 2016 - 10:01 UTC
IMF estimates 2016 Venezuela inflation at 720% and 8% economy contraction

Venezuela’s consumer inflation, already the world’s highest, will more than double this year surging to 720% in 2016 from 275% last year, according to a note published by the IMF’s Western Hemisphere Director, Alejandro Werner.
Monday, January 25th 2016 - 09:56 UTC
Tourists' arrivals grew 4.4% last year and forecasted to increase 4% this year

International tourist arrivals grew by 4.4% in 2015 to reach a total of 1,184 million in 2015, according to the latest UNWTO World Tourism Barometer. Some 50 million more tourists (overnight visitors) travelled to international destinations around the world last year as compared to 2014. 2015 marks the 6th consecutive year of above-average growth, with international arrivals increasing by 4% or more every year since the post-crisis year of 2010.
Saturday, January 23rd 2016 - 09:01 UTC
Rousseff eyeing foreign reserves to boost economy and cash strapped government

President Dilma Rousseff said on Friday that her cash-strapped government could consider tapping into Brazil's sizeable foreign reserves at a given moment, an idea that troubles investors already worried about the country's economic decline.
Saturday, January 23rd 2016 - 04:35 UTC
IMF chief Lagarde will stand for a second term

The head of the International Monetary Fund, Christine Lagarde, has confirmed she will stand for a second term. Ms Lagarde threw her hat into the ring during an appearance on French television.
Friday, January 22nd 2016 - 05:12 UTC
Banks don't discard credit-short Venezuela will undergo a 'credit event' in 2016

Slumping crude prices have investors and analysts warning of a potential messy default in Venezuela, with state-owned oil company PDVSA owing some US$10 billion in external debt payments due this year. With crude hovering around US$28 per barrel, Venezuela could have trouble satisfying its obligations.
Friday, January 22nd 2016 - 04:45 UTC
Macri/Cameron coincide on new relationship; Falklands left for further on

Argentine President Mauricio Macri met on Thursday with British Prime Minister David Cameron in Davos as both leaders attend the World Economic Forum in Switzerland. The atmosphere of the meeting was described as 'very positive' and several steps of a new relationship were announced, while the Falklands/Malvinas issue was left for further on.
Friday, January 22nd 2016 - 04:33 UTC
UK position on Falklands remains as expressed by 2013 referendum, Cameron tells Macri

The United Kingdom government has released a statement pointing out the “three areas” British Prime Minister David Cameron and President Mauricio Macri “covered” during their Davos meeting on Thursday.
Friday, January 22nd 2016 - 04:15 UTC
US announced support for Argentina at multilateral development banks

The United States is ending its policy of opposing most lending to Argentina from multilateral development banks, the US Treasury Department announced. US Treasury Secretary Jack Lew informed Argentine Finance Minister Alfonso Prat-Gay of the move on Thursday when the two met in Davos, Switzerland, the department said in a statement.
Thursday, January 21st 2016 - 07:46 UTC
“Do not forget the poor” Francis tells the global economic elite in Davos

Pope Francis told members of the world's wealthy political and economic elite that they should not be deaf to the cry of the poor and must consider their own role in creating inequality. New technologies such as robotics must also not be allowed to replace humans with “soulless machines,” he said in a message to the World Economic Forum in Davos.
Thursday, January 21st 2016 - 07:33 UTC
Argentine Finance minister expected to meet IMF chief to renew formal ties

Argentine Finance Minister Alfonso Prat-Gay is planning to meet with IMF's Christine Lagarde at the World Economic Forum in Davos, Switzerland, to discuss resuming formal ties with the international lender, according to a report published by Bloomberg.