Economy

• Friday, January 8th 2016 - 18:13 UTC

  Macri's Argentina forecasted to grow 0.7% this year and rebound to 1.9% in 2017

  

  The World Bank lowered its forecast for Argentine growth for the next two years, noting it expected the economy to see a large rebound in 2018 thanks to the monetary and fiscal policies implemented by President Mauricio Macri’s administration.

• Friday, January 8th 2016 - 11:46 UTC

  Venezuela's problems are because it's “too capitalist” says new Economy czar

  

  President Nicolas Maduro is doubling down on his existing economic policies with the appointment of a young leftist hardliner to head the country's dilapidated economy, setting the stage for confrontation between the ruling socialist party and the newly powerful opposition.

• Thursday, January 7th 2016 - 08:46 UTC

  World bank slashes 2016 global economy growth forecast; points to disappointing “China and Brazil”

  

  World Bank slashed its growth forecast for the global economy in 2016, citing “disappointing” growth in major emerging market economies like China and Brazil. The bank has cut its previous June forecast for global economic expansion in 2016 by 0.4 percentage point to 2.9%, though that is still faster than 2015's sluggish 2.4%, which itself missed an earlier prediction.

• Thursday, January 7th 2016 - 08:42 UTC

  Fed minutes show concern with global economy and US low inflation persists

  

  The United States Federal Reserve's decision to raise interest rates in December was a “close call”, according to minutes from the Fed's December meeting. Fed members voted unanimously to raise its key interest rate by 25 basis points to between 0.25% and 0.5%. a move widely expected.But some members were cautious, because of global concerns and low inflation.

• Thursday, January 7th 2016 - 08:17 UTC

  Macri will become first Argentine president to attend Davos forum in twelve years

  

  For the first time in twelve years and Argentine president will be attending the World Economic Forum in Davos, Switzerland that runs between January 20-23. President Mauricio Macri will be present together with ally Sergio Massa, leader of dissident Peronist Renewall Front, in order to attract investment.

• Thursday, January 7th 2016 - 08:08 UTC

  Rousseff's unaccomplished promise of no recession or retrocession

  

  On 2 February 2015, Brazilian president Dilma Rousseff sent the Executive message to Congress with her government's plan and promising she would not promote “recession or retrocession.” However eleven months later, Brazil is undergoing full recession and faces retrocession in several areas, having been downgraded by two credit risk agencies.

• Tuesday, January 5th 2016 - 08:57 UTC

  Chinese markets recover after Monday's trading suspension; central bank injects funds

  

  Mainland Chinese shares recovered early losses amid volatile swings, following Monday's suspension of trading which led to a global equities sell-off. The Shanghai Composite was up 0.8% at 3,324.27 after opening more than 3% lower, while the Hang Seng also changed direction to head up 0.1% to 21,342.09.

• Tuesday, January 5th 2016 - 08:34 UTC

  Confirmed: Brazil faces its worst economic plunge in 25 years

  

  Analysts expect Brazil's economy to contract by 2.95% this year after contracting by 3.71% in 2015, marking the biggest drop in economic output in 25 years, the Central Bank said on Monday. The first survey of analysts released this year shows that private sector economists expect the inflation rate to hit 6.87% in 2016.

• Monday, January 4th 2016 - 07:20 UTC

  Canada opens its market to Argentine boneless fresh and frozen beef after 13 years

  

  Canada finally made official the opening of its market to Argentine boneless beef, both fresh and frozen. This happens after thirteen years of negotiations, according to an end of the year release from the Argentine ministries of foreign affairs and agriculture and livestock, and the Argentine animal sanitary office. The decision became effective last 17 December.

• Monday, January 4th 2016 - 07:09 UTC

  Brazil's Rousseff faces Olympic political and financial challenges this year

  

  Brazilian President Dilma Rousseff began the new year on the offensive declaring the impeachment proceedings she faces as “unfair” and overruling by veto more than 50 amendments made by lawmakers to the nation’s budget, including reductions to her flagship Bolsa Familia social program.