Latin America

• 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.”

• Tuesday, October 8th 2013 - 19:00 UTC

  Cristina Fernandez in ‘good mood’; successful surgery, 30 to 45 days convalescence

  

  Argentine president Cristina Fernandez ‘surgery has been satisfactory and is recovering favourably’ announced early Tuesday afternoon presidential spokesman Alfredo Scoccimarro addressing the media and pro-government supporters outside the Fundación Favaloro clinic in Buenos Aires

• Tuesday, October 8th 2013 - 05:49 UTC

  Boudou: “The worst negative image of the Cristina Fernandez administration”

  

  Vice-president and caretaker president Amado Boudou has “the worst negative image” of the Argentine government, according to a leading pollster in Buenos Aires. Mariel Fornoni from Management & Fit made the statement only hours before Boudou, and according to Article 88 of the Constitution, signed as acting president for thirty days during the medical absence of Cristina Fernandez.

• Tuesday, October 8th 2013 - 05:43 UTC

  Cristina Fernandez undergoes surgery to remove clot; doctors consider operation ‘low-risk’

  

  Argentine President Cristina Fernandez (60) will undergo surgery on Tuesday morning to remove an accumulation of blood in her skull (subdural haematoma) following a blow in early August, according to a statement issued by the hospital where she is being treated.

• Monday, October 7th 2013 - 13:42 UTC

  Claims Canada spied on Brazil’s Mining and Energy Ministry

  

  Canada spied on communications at Brazil's Mining and Energy Ministry, according to Canadian intelligence documents revealed Sunday by Globo television. The documents were leaked by former US intelligence contractor Edward Snowden.

• Sunday, October 6th 2013 - 06:56 UTC

  IMF raises Uruguay’s 2013 growth estimate but lowers 2014 forecast

  

  The IMF raised its 2013 economic growth forecast for Uruguay, but lowered its estimates for 2014, saying growth had “moderated to a more sustainable pace” after a decade of strong expansion.

• Sunday, October 6th 2013 - 06:31 UTC

  Cristina Fernandez prescribed 30 days medical rest, until after mid-term election

  

  Argentine President Cristina Fernández was diagnosed “chronic subdural collection” and prescribed one month of rest after suffering cardiac arrhythmia, according to the official release from Government House on Saturday. Vice President Amado Boudou will manage the Cabinet for the upcoming 30 days.

• Friday, October 4th 2013 - 06:58 UTC

  Uruguay 2012/13 soybean crop was record in volume, area and yield

  

  Uruguay’s latest soybean crop was the highest in history, 2.76 million tons with an increase in the area planted and in yields according to the latest survey from the Ministry of Agriculture and Livestock. The area dedicated to soybean climbed 20% and reached 1.049.000 hectares.