Latin America

• Friday, October 11th 2013 - 07:49 UTC

  Rare praise for Argentina’s economy performance from the World Bank

  

  Argentina will grow at an enviable rate compared to other countries in the region, Chief Economist for the World Bank’s Latin America and Caribbean Office Augusto de la Torre said this week, commenting on the institution’s projections for next year.

• Thursday, October 10th 2013 - 05:11 UTC

  Brazil raises basic interest rate to 9.5% and leaves door open for further increases

  

  Brazil Central bank raised interest rates for the fifth straight time on Wednesday and gave no indication of backing off its battle with high inflation. The benchmark Selic interest rate now stands at 9.5%, up fifty basic points from 9%.

• Thursday, October 10th 2013 - 01:11 UTC

  New editors for leading Cuban newspapers: “too much triumphalism and too apologetic”

  

  Cuba has appointed new editors for the country's two main newspapers - Granma and Juventud Rebelde. The shake up in the island's tightly controlled media was described by the Communist Party as a “renewal”.

• Thursday, October 10th 2013 - 01:01 UTC

  As Cristina Fernandez evolves favourably, debate targets acting-president Boudou

  

  While Argentine presidential spokesman Alfredo Scoccimarro confirmed that President Cristina Fernández “evolves favourably” and is “in good spirits”, the political debate on Wednesday has centred on Vice-president and acting president Amado Boudou whom the opposition argue should not lead the country given his questionable credentials and mounting legal problems

• Thursday, October 10th 2013 - 00:57 UTC

  Brazilian annual inflation to September the lowest in nine months

  

  Annual inflation in Brazil reached its lowest level in nine months, but the country still shows signs it hasn't yet come to grips with persistently higher prices. Brazil's 12-month inflation reading continued to retreat, falling to 5.86% in September, the Brazilian Institute of Geography and Statistics, or IBGE, said Wednesday.

• Thursday, October 10th 2013 - 00:48 UTC

  Brazil wants to catch the spies and will host global summit on Internet governance next April

  

  Brazil, which has slammed massive US electronic spying on its territory, said on Wednesday it would host a global summit on Internet governance in April. President Dilma Rousseff made the announcement after conferring in Brasilia with Fadi Chehade, chief executive of the Internet Corporation for Assigned Names and Numbers (ICANN).

• Wednesday, October 9th 2013 - 05:49 UTC

  Brazil finishes trade liberalization proposal for Mercosur/EU negotiations

  

  The Brazilian government National Trade Council, Camex, approved the contents of a proposed trade liberalization offer to be made by Brazil involving negotiations for a wide ranging cooperation and trade agreement between Mercosur and the European Union.

• Wednesday, October 9th 2013 - 05:38 UTC

  Brazil expected to announce “the largest oil discovery in the world this year”

  

  Petrobras CEO Maria das Gracas Foster described as ‘simply exceptional’ the latest discovery of hydrocarbons off the coast of the north-eastern state of Sergipe on the Atlantic but declined to give further details of the prospect. Even when the Brazilian administration has abstained from making any announcement the Sergipe government has said “it is the largest oil discovery in the world this year”.

• Wednesday, October 9th 2013 - 05:28 UTC

  IMF forecasts higher growth for Argentina this year, but reliability of official stats remains controversial

  

  Argentina’s growth has recovered because of an abundant crop but economic activity continues to be contained because of the exchange rate and other administrative controls, according to the IMF latest World Economic Outlook (WHE), Latam and Caribbean chapter released on Tuesday. The IMF statement refers to Argentina’s export duties and the so called ‘dollar clamp’ which bans even saving in US dollars.

• Wednesday, October 9th 2013 - 05:25 UTC

  Lower commodity prices and poor infrastructure cut Latam growth prospects says IMF

  

  The International Monetary Fund on Tuesday cut its economic growth forecast for Latin America and the Caribbean, blaming, at least in part, poor infrastructure and lower commodity prices. In its latest World Economic Outlook report, the IMF noted that emerging markets generally were facing a dampening of growth amid “less supportive external conditions and domestic supply-side constraints.”