Economy

• Wednesday, November 5th 2014 - 04:06 UTC

  “Mercosur and Pacific Alliance are not contradictory competing blocks”

  

  Mercosur and the Pacific Alliance are not contradictory competing blocks, and can advance towards a mutually beneficial convergence, said Chile's Economy minister Luis Felipe Cespedes during a trade and investment promotion seminar in Brazil.

• Wednesday, November 5th 2014 - 03:43 UTC

  Argentina appeals Judge Griesa's 'contempt of court' ruling

  

  Argentina on Monday asked the Second Circuit Court of Appeals to overturn a federal judge’s finding that it is in contempt of court for taking steps to evade his orders that bondholders who agreed to debt restructurings can only be paid if holdout hedge funds are also compensated.

• Wednesday, November 5th 2014 - 03:34 UTC

  Scottish minister explores fisheries and trade opportunities in Chile

  

  Scottish Minister for Environment and Climate Change Paul Wheelhouse visited Puerto Montt and Santiago to strengthen links with Chile on fisheries and climate change. Chile and Scotland have two of the largest global aquaculture industries.

• Tuesday, November 4th 2014 - 09:22 UTC

  Brazil with the largest trade deficit for October in 16 years

  

  Brazil ran a trade deficit of 1.17 billion last month, the largest shortfall for October in 16 years, the government said on Monday. Imports totaled 19.5bn, while exports amounted to 18.3bn, the Ministry of Development, Industry and Foreign Trade said in a report.

• Tuesday, November 4th 2014 - 05:05 UTC

  Falklands have a per capita GDP “ten times higher than Argentina”

  

  Argentina's financial daily, El Cronista Comercial has published two articles on the Falkland Islands based on data from the 2014 Statistical Yearbook stating that the Islands enjoy a GDP per capita several times higher than Argentina and that the economy has been expanding at 11% annually since 2008.

• Tuesday, November 4th 2014 - 04:53 UTC

  Bankers' names for Finance minister in Rousseff's next government

  

  Brazilian banker Luiz Carlos Trabuco Cappi, president of Bradesco, turned down an invitation from president Dilma Rousseff to occupy the Finance ministry as of next January first. According to the Sao Paulo financial publication Valor, there was no insistence on the issue from political sources.

• Monday, November 3rd 2014 - 08:59 UTC

  Brazil and Uruguay agree to bilateral trade in local currencies

  

  Brazil and Uruguay as of next December will be able to use local currencies in bilateral trade, disregarding appealing to US dollars, based on the agreement signed last Friday between the central bank presidents of the two countries, Alexandre Tombini (Brazil) and Alberto Graña (Uruguay).

• Monday, November 3rd 2014 - 08:41 UTC

  Pacific Alliance and Mercosur agree to continue discussions in Chile

  

  Mercosur and Pacific Alliance foreign affairs ministers met this weekend in Colombia for a first round of talks on integration mechanisms and the potential for specific alliances. The idea of the meeting was first launched by Chile with the purpose of a 'convergence' of interests and a possible future integration.

• Saturday, November 1st 2014 - 04:28 UTC

  Fitch ratings lowers Argentina Par bonds under foreign law to “D”

  

  Fitch ratings on the last day of October downgraded Argentina's Par bonds issued under Foreign Law to 'D' from 'C', after the country failed to complete an interest payment, raising the risk that creditors could demand that its cash-strapped government immediately repay all of its debt.

• Friday, October 31st 2014 - 21:21 UTC

  Argentina's holdout dispute spills into the White House: CFK sends letter to Obama questioning Ambassador Soderberg

  

  In a harsh letter, released on Friday, Argentine President Cristina Fernandez urged US President Barack Obama to explain whether ”Nancy Soderberg, the person you have appointed as Chair of the Public Interest Declassification Board (PIDB), which reports directly to the Government of the United States of America, is also the Co-Chair of the American Task Force Argentina (ATFA), an entity specifically created to attack and slander the Argentine Republic and its President.”