Mercosur

• Thursday, October 27th 2016 - 03:29 UTC

  Lowering interest rates in Brazil will be “moderate and gradual”, says Central bank

  

  Inflation forecasts for the next couple of years point to limited room for monetary easing in Brazil, the central bank said on Tuesday, suggesting it is unlikely to accelerate the pace of interest rate cuts in its November policy meeting. In the minutes of its Oct. 19 meeting, in which it cut its benchmark Selic rate by 25 basis points to 14%, the bank also said it was worried about a recent pause in the slowdown of services price rises.

• Thursday, October 27th 2016 - 01:23 UTC

  Tierra del Fuego PC assembly industry at risk if import tariffs (35%) are lowered

  

  A new challenge for Tierra del Fuego province and its industrial promotion scheme: the Argentina government is planning to eliminate all tariffs on the import of computers and components beginning 2017, which is estimated could cost anywhere from 4.000 to 12.000 jobs.

• Tuesday, October 25th 2016 - 10:29 UTC

  Macri and Vazquez agree that the trade approach to China should be done from Mercosur

  

  Argentine president Mauricio Macri promised his Uruguayan peer Tabare Vazquez to look into the draft of a Uruguay/China free trade deal, and expressed their deep concern about political events in Venezuela suggesting that under the current circumstances the Nicolas Maduro government cannot be considered a member of Mercosur.

• Monday, October 24th 2016 - 18:11 UTC

  First Mercosur test for Uruguay´s free trade agreement negotiations with China

  

  Uruguay and Argentina, and their cabinets will be meeting this Monday in Buenos Aires to address a bilateral agenda, which was agreed long before hand, but the real issue will not necessarily be trade, dredging canals, pulp mills, customs or facilitating people's movement, but rather the negotiations for a free trade agreement which supposedly Uruguay is about to begin discussing with China.

• Friday, October 21st 2016 - 02:56 UTC

  Brazilian central bank lowers basic rate 0.25 points on more optimistic recovery data

  

  Brazil's central bank cut its key interest rate for the first time in more than three years on Wednesday as a new center-right government's reforms fuel hopes of a recovery in Latin America's largest economy. The bank lowered the benchmark Selic rate by 0.25 points, to 14%, still one of the world's highest, and cited a dip in inflation and forecasts that a long recession -- Brazil's worst in a century -- is nearing its end.

• Monday, October 17th 2016 - 06:53 UTC

  Mercosur founding members share same economic model and are targeting trade accords, says ECLAC

  

  Tensions inside Mercosur can be attributed to the fact that Argentina, Brazil, Paraguay and Uruguay share a development “economic model” which distances them from Venezuela, and are prepared to advance in trade negotiations with the European Union, and even with the Pacific Alliance. Venezuela on the other hand has as its main priority putting the deteriorated economy back on the growth track, according to the UN regional economic commission ECLAC, chair Alicia Barcena.

• Sunday, October 16th 2016 - 06:18 UTC

  Argentina 'upset and disappointed' with UK military exercises in Falklands but insists with dialogue

  

  The Argentine government feels “upset and deeply disappointed” with the announced British military exercises in the Falklands/Malvinas, which includes the launching of missiles, but nevertheless the government will continue working “to build the opportunity of a dialogue which eliminates the presumptions of conflict” with the UK, said foreign minister Susana Malcorra on Saturday in the Vatican.

• Friday, October 14th 2016 - 09:17 UTC

  EU-Mercosur trade deal within two years, followed by negotiations with UK

  

  The European Union and Mercosur could strike a free trade deal within two years, according to Argentina’s Commerce Secretary Miguel Braun. After Brexit, Mercosur would be open to a separate trade deal with the UK. Trade negotiations between the EU and Mercosur nations are still on track, despite the UK’s decision to leave the bloc and uncertainty over the future of the EU’s other major trade agreements – TTIP and CETA.

• Wednesday, October 12th 2016 - 10:49 UTC

  UK official praises Mercosur new trade and integration focus

  

  Mercosur has “lost focus” because of years of political and ideological discussions instead of concentrating in trade integration, commented Nigel Baker, deputy head of the Foreign Office South America's department during a two day visit to Paraguay. The ex ambassador in the Vatican also anticipated that Brexit, UK leaving the European Union will help strengthen overall relations with Paraguay, one of Mercosur four founding members.

• Tuesday, October 11th 2016 - 03:20 UTC

  Brazil's prosecutor office questions spending cap: fears it could limit corruption investigations

  

  Brazil’s Prosecutor-General’s Office questioned the constitutionality of President Michel Temer’s proposed public spending cap and recommended that Congress shelve the austerity measures. The office said in a statement the proposal interferes with the autonomy of other federal powers and would weaken the country’s judicial system, handicapping efforts to combat corruption.