Economic subsidies for Argentine public and private companies last year totaled an estimated 143 billion pesos, or 4.9% of GDP, the highest level in eight years, according to a joint report by the Professional Council of Economic Sciences (CPCE) and the Argentine Institute of Fiscal Analysis (IARAF) released this week, and which was summarized by the Buenos Aires Herald.
Paraguay has instructed its ambassador in Buenos Aires to collect information on Argentina's plans to set up an uranium processing plant in the northern province of Formosa, neighboring with the land-locked country.
Uruguay and Brazil could be prepared to go ahead with a 'two speed' trade negotiations between Mercosur and the European Union if the Argentine tariff proposal is not as ambitious as that from the rest of its members, according to Uruguayan diplomatic sources.
Following on President Cristina Fernandez administration strategy of blaming big business and banks as speculators that force price increases and the devaluation of the Peso, this weekend a group which brings together intellectuals who support the Argentine Kirchnerite Victory Front have published a new letter titled The Nation in Danger.
Argentina's cabinet chief Jorge Capitanich reacted on Friday to US Senators' remarks who on Thursday harshly criticized the economic policies of President Cristina Fernandez administration and forecasted an economic collapse sooner than later.
Mercosur pretends to increase its trade integration with members from the Pacific Alliance, said Brazilian foreign minister Luiz Alberto Figuereido. The top official made the statement this week before the Brazilian Senate foreign affairs committee.
The current Argentine economic situation reached the US Capitol during the hearings to consider President Obama's nomination for future ambassador in Buenos Aires, and what was said was not encouraging.
A leading Venezuelan businessman rejected a new presidential decree limiting the profit margins of companies, vowing to take the fight all the way to the country’s Supreme Court. The President of the Venezuelan Federation of Chambers of Commerce and Industry (Fedecámaras) Jorge Roig, announced he had the backing of his organization and other business leaders.
A dispute over a 1.6 billion dollar cost overrun in the Panama Canal's expansion took a new twist Wednesday after a Spanish company leading the project denied it halted work over the spat.
The four presidents of the Pacific Alliance are scheduled to sign next Monday the trade group's Additional Protocol which will remove tariffs on 92% of goods and services, effective immediately, announced Colombian president Juan Manuel Santos who will be hosting the summit in Cartagena.