Latin America

• Friday, April 20th 2012 - 00:24 UTC

  Cristina Fernandez “not concerned” about international reaction to YPF takeover

  

  The government of President Cristina Fernandez is “not concerned” about the escalade of international criticism following the announced nationalization of the oil company YPF, and rules “thinking in Argentina not in Spain or the US”, said two cabinet members.

• Thursday, April 19th 2012 - 21:21 UTC

  “President Rajoy, in Colombia we don’t expropriate, we welcome foreign investment”

  

  Colombian president Juan Manuel Santos welcomed Spanish corporations and guaranteed his visiting Spanish peer Mariano Rajoy that in Colombia there will be no surprises because the country follows the rules of the game: “President Rajoy: here we don’t expropriate”.

• Thursday, April 19th 2012 - 04:59 UTC

  Brazil lowers basic rate to 9%, sixth straight reduction and more could come

  

  Brazil lowered its benchmark interest rate to a near-historic low of 9% on Wednesday, as expected, but the central bank surprised with hints that more cuts may follow to revive Latin America's largest economy.

• Wednesday, April 18th 2012 - 22:44 UTC

  Colombia protests before WTO Argentina’s trade restrictions

  

  Colombia has sent a letter to the World Trade Organization protesting Argentina's import restrictions on its products, the government announced Wednesday.

• Wednesday, April 18th 2012 - 22:34 UTC

  Brazil feels YPF dispute will not interfere with Petrobras operations in Argentina

  

  Brazil’s Mines and Energy minister Edison Lobao discarded that operations of Petrobras in Argentina could be affected by the decision from the administration of President Cristina Fernandez to expropriate YPF from Spain’s Repsol.

• Wednesday, April 18th 2012 - 22:22 UTC

  Uruguay’s Mujica supports Argentina in the YPF dispute, but opposition blasts the president

  

  Uruguayan president Jose Mujica expressed solidarity with the Argentine government decision to nationalize the oil company YPF belonging to Spain’s Repsol and said he does not like the “arrogance of rich Europe”. His position however was strongly criticized by the opposition.

• Wednesday, April 18th 2012 - 08:23 UTC

  Brazilian economy set to grow 3%, but with risks of overheating, says IMF

  

  The Brazilian economy is set to grow 3% in 2012 after the modest 2.7% of last year, but following the relaxation of monetary policy it runs the risk of ‘overheating’, according to the IMF World Economic Outlook, WEO.

• Wednesday, April 18th 2012 - 08:06 UTC

  Argentina’s Malvinas claim with no support statement from hemisphere defence ministers

  

  A preparatory meeting for a Ministers of Defence of the Americas Conference to be held in the second half of the year concluded in Montevideo with no inclusion of the Malvinas Islands dispute in the final declaration because of lack of agreement among the participants.

• Wednesday, April 18th 2012 - 01:05 UTC

  Bolivia’s Morales takes distance from YPF/Argentina conflict and praises Repsol

  

  Bolivian president Evo Morales clearly took distance from Argentina’s expropriation of YPF, the Argentine affiliate of Spain’s Repsol which was announced on Monday and caused a major rift between Argentina and Spain and the European Commission.

• Tuesday, April 17th 2012 - 20:04 UTC

  IMF estimates less growth (3.5%) and higher prices (7.4%) for Uruguay in 2012

  

  Uruguay growth estimate has been downed for 2012 while prices will be higher, according to the latest IMF World Economic Outlook released on Tuesday. The economy is set to grow 3.5% down from 4.2% while prices will climb to 7.4% compared to the 6.5% estimate of the previous WEO last September.