Economy

• Wednesday, October 8th 2014 - 08:16 UTC

  Whoever wins Uruguayan election, no major changes in policy, says US bank

  

  Under the heading of “Emerging markets prospects and strategy” the US bank group JPMorgan-Chase states that no matter who wins in Uruguay's 26 October presidential election, “we do not expect significant changes in the framework of current policy”.

• Wednesday, October 8th 2014 - 07:54 UTC

  IMF keeps Uruguay's growth estimate for this year, but lowers 2015

  

  The International Monetary Fund kept Uruguay's growth estimate for this year at 2.8% but lowered the forecast for 2015 to 2.8% from 3%, according to the latest World Economic Outlook. Last year the Uruguayan economy expanded 4% and the government's target for this year is 3%.

• Wednesday, October 8th 2014 - 07:51 UTC

  Argentina needs an “urgent change of course” and better relations with financial markets

  

  The Argentine economy needs an urgent change of course which would have the effect of reestablishing normal relations with the financial market, a crucial step to open a maneuvering space in an ever more complex environment, suggested Augusto de la Torre, World Bank chief economist for Latin America.

• Wednesday, October 8th 2014 - 04:05 UTC

  World Bank: end of boom doesn’t have to mean a bust for the poor in Latin America

  

  During the recent commodity boom, Latin America and the Caribbean proved that growth could be pro-poor and help fuel tremendous social progress. Now as growth slows regionally and beyond, it is critical to consider what will shore up economic activity while ensuring the poor won't stay behind.

• Wednesday, October 8th 2014 - 03:50 UTC

  Brazilian and Chinese banks support for Argentina in bonds litigation confirmed

  

  Brazil’s PTG Pactual Bank and the China Construction Bank are at the forefront of the initiative to buy up the 1.6 billion dollars of debt which Argentina owes “holdouts” NML-Elliott and Aurelius, according to a report from Buenos Aires Ambito Financiero, the country's leading financial newspaper.

• Wednesday, October 8th 2014 - 03:46 UTC

  World Bank supports Argentina, favors institutional frame for 'holdouts'

  

  World Bank Chief Economist for Latin America and the Caribbean Augusto De la Torre has said the ongoing conflict between Argentina and holdout creditors is due to the “lack of international debt regulation frames”, and favored Argentina's initiative in the UN to “solve the situation.”

• Wednesday, October 8th 2014 - 03:43 UTC

  IMF lowers Latam growth forecasts: declining exports and domestic constraints

  

  The International Monetary Fund cut its global economic growth forecasts for the third time this year, warning of weaker growth in core Euro zone countries, Japan and big emerging markets like Brazil.

• Wednesday, October 8th 2014 - 03:40 UTC

  Ebola outbreak threatens Africa with dramatic consequences, says IMF

  

  Saharan Africa's economic growth remains strong and should accelerate to 5.8% in 2015 but if the Ebola outbreak in its western corner is protracted or spreads it will have “dramatic consequences” for that zone, the IMF said on Tuesday.

• Tuesday, October 7th 2014 - 22:19 UTC

  Despite record shrimp season, Argentine seafood landings drop 7.3%

  

  Seafood landings in Argentine sea ports between January first and 30 September totaled 584,835.1 tons of seafood resources, 7.3% less that the same period a year ago, 630,393 tons.

• Tuesday, October 7th 2014 - 06:04 UTC

  IMF urges changes in sovereign bonds' contracts, following Argentina's case

  

  The International Monetary Fund on Monday urged changes in sovereign bond contracts as Argentina remained mired in a US court battle with holdouts or “vulture funds” years after its massive debt restructuring.