Politics

• Wednesday, May 8th 2013 - 09:56 UTC

  Maduro promises Uruguay permanent supply of oil and full Mercosur commitment

  

  President Nicolas Maduro promised his Uruguayan counterpart Jose Mujica a “permanent” supply of petroleum from oil-rich Venezuela during the first leg of his visit to Mercosur member countries. Maduro also announced the signing of a strategic alliance in the energy sector with Uruguay.

• Wednesday, May 8th 2013 - 09:51 UTC

  Argentina offers tax amnesty for undeclared dollars and assets in the country and overseas

  

  The administration of President Cristina Fernandez announced the drafting of a bill intended to establish a recovery plan for undeclared assets within the country and abroad in order to strengthen the level of foreign reserves of the Central Bank. The government estimates Argentines hold 160bn dollars outside the financial system in the country and overseas.

• Wednesday, May 8th 2013 - 09:40 UTC

  First Latinamerican and BRIC representative next head of WTO

  

  Brazil's Roberto Azevedo has won the race to become the next head of the World Trade Organization, the first candidate from Latinamerica and from the BRIC club of emerging economies to take the job.

• Wednesday, May 8th 2013 - 09:34 UTC

  Francis will visit a favela, meet young prisoners when he arrives in Brazil for World Day of Youth

  

  Pope Francis will visit a favela (slum) and meet young prisoners when he travels to Brazil on his first international trip as pontiff in July, the Vatican announced on Tuesday. The Argentine born pope who has said he wants to make concern for the poor a hallmark of his papacy, will visit the Manguinhos slum in Rio de Janeiro on the fourth day of his July 22-29 trip to the world's largest Catholic country.

• Wednesday, May 8th 2013 - 09:29 UTC

  China fears a US/EU free trade area could become protectionist; looks to Latinamerica

  

  China has raised concerns about European Union plans to negotiate an ambitious free trade deal with the United States, fearing it is a protectionist move and at the same time Beijing new administration is doubling efforts towards Latinamerica and Africa.

• Wednesday, May 8th 2013 - 09:23 UTC

  Argentines keep travelling overseas despite the ‘dollar clamp’ and the ‘Coca Cola formula’

  

  Despite the ‘dollar clamp’ and other obstacles to purchase the US currency in Argentina, the number of Argentines travelling abroad increased by 8% last March in comparison to the same period the year before although they spent 6.2% less than in 2012, it was reported by the National Statistics Bureau (INDEC).

• Wednesday, May 8th 2013 - 09:19 UTC

  Uruguay’s inflation in April eased for third month running, but remains above target

  

  Inflation in Uruguay during April slowed down for third month running, according to the latest release from the country’s Statistics Office, INE. Consumer prices in the fourth month of the year climbed 0.45% with inflation in the last twelve months reaching 8.14%, compare to 8.54% in March.

• Wednesday, May 8th 2013 - 09:15 UTC

  Chilean court finds naval officers guilty of abduction of Anglo-Chilean priest

  

  Chilean court has found two ex-navy officers guilty of the abduction of Anglo-Chilean priest Michael Woodward. The left-wing priest disappeared shortly after the coup that brought Gen Augusto Pinochet to power in 1973 and his body has never been found.

• Wednesday, May 8th 2013 - 02:44 UTC

  Dollar in Argentina breaks 10 Pesos barrier, despite Cristina Fernandez and her “I want to leave” minister

  

  The ‘blue’ or parallel dollar in Argentina beat a new record on Tuesday by breaking the 10 Pesos milestone and ending trading at 10.08 Pesos. The official rate meantime remained relatively stable and closed at 5.16 and 5.21 Pesos (buying and selling price).

• Tuesday, May 7th 2013 - 09:28 UTC

  IMF again warns Argentina about protectionist and foreign currency exchange policies

  

  The International Monetary Fund Director for the Western Hemisphere, Alejandro Werner, warned on Monday about the “negative effect” that the existence of two foreign currency exchange markets and protectionist policies bring to Argentina.