Latin America

• Wednesday, August 1st 2012 - 19:37 UTC

  Venezuela’s Mercosur membership “null and void” says Paraguayan government

  

  The Paraguayan government declared “illegal” and “null and void” the inclusion of Venezuela as a full member of Mercosur which was agreed on Tuesday during the extraordinary meeting held in Brasilia with the absence of Paraguay.

• Wednesday, August 1st 2012 - 08:08 UTC

  Dilma welcomes President Chavez to the world’s fifth economy

  

  Brazilian president DIlma Rousseff said that with the incorporation of Venezuela, Mercosur has become a global power in food and energy and becomes the fifth world economy with a GDP of 3.3tn dollars.

• Wednesday, August 1st 2012 - 08:03 UTC

  US government ‘sovereign right’ blessing to Venezuela’s inclusion in Mercosur

  

  The US government said that Venezuela as any other country has the “sovereign right” to join regional organizations such as Mercosur. The statement from the US State Department comes on the day that Mercosur officially incorporated Venezuela as full member of the block.

• Wednesday, August 1st 2012 - 07:46 UTC

  Argentina/Venezuela sign strategic cooperation agreement to boost energy

  

  After attending the Mercosur extraordinary meeting in Brasilia, President Cristina Fernández and her Venezuelan counterpart, Hugo Chávez, signed a cooperation agreement to develop a strategic energy plan between state oil companies YPF and PDVSA.

• Wednesday, August 1st 2012 - 01:24 UTC

  Uruguay and Brazil sign wide ranging accord to promote trade and political links

  

  Uruguayan president Jose Mujica and his peer Dilma Rousseff signed in Brasilia a bilateral agreement to promote the free circulation of goods and services and the strengthening of political and trade links between the two countries.

• Tuesday, July 31st 2012 - 23:19 UTC

  With Venezuela Mercosur has become “a new pole of world power”

  

  Argentine President Cristina Fernández said on Tuesday during a press conference held at the Mercosur extraordinary summit in Brasilia, that Venezuela’s entry to the bloc “strengthens the entire region” and creates a “new pole of power” at world level.

• Tuesday, July 31st 2012 - 22:22 UTC

  Second risk rating agency upgrades Uruguay to investment grade

  

  Moody's Investor Service upgraded Uruguay's sovereign ratings from Ba1 to Baa3, following Standard & Poor's upgrade announced on April.

• Tuesday, July 31st 2012 - 07:42 UTC

  Not without controversy Venezuela becomes Mercosur fifth full member

  

  Following a full day of deliberations in Brasilia between Foreign Affairs ministers, the presidents from Brazil, Argentina and Uruguay, on Tuesday will formally receive Venezuela as the new full member of Mercosur, as was agreed at the regular mid year summit in Mendoza.

• Tuesday, July 31st 2012 - 04:04 UTC

  Cristina Fernandez prepares another ‘independence day’ celebration next Friday

  

  Argentina is ready to cancel next Friday a bond issue which was handed out to residents with bank deposits victims of the so called “corralito” (paddock) in 2002 when the collapse of the Argentine economy and financial system.

• Tuesday, July 31st 2012 - 02:05 UTC

  Uruguay expects to plant a record area of soybeans this coming season

  

  The soybean area and crop of the next harvest in Uruguay is expected to establish a new record with an additional 10% acreage, totalling over a million hectares boosted by excellent international prices and good weather prospects, according to reports from local grain and oilseed operators.