Argentina’s central bank reserves dispute suffered an expected escalation when on Tuesday Judge Thomas Griesa from New York State placed an embargo on Argentine central bank accounts held in the United States, following a lawsuit filed by investment funds (or “vulture funds”).
Colombia's Constitutional Court should approve a referendum to allow President Alvaro Uribe to run for re-election, the country's ombudsman said on Tuesday, which could open the way for a third consecutive mandate bid in the coming May presidential elections.
Uruguayan president elect Jose Mujica travelled Tuesday to Buenos Aires to hold a meeting with her Argentine peer Cristina Fernandez de Kirchner and other officials, confirming his promise that “we need a healthy and strong relation with Argentina”.
Brazil’s strongest manufacturing organization (and lobby) is considering the possibility that the country “ceases to be tolerant” towards Argentine trade restrictions and consider the possibility of withdrawing from Mercosur.
Venezuelan government inspectors backed by soldiers have shut more than 70 shops in Caracas and other cities accused of trying to cash in on last week's currency devaluation. Soldiers have been on the streets to check prices as people queue to buy imports, fearing prices could rise.
Venezuela announced electricity cuts on a rotating basis to sections of the country’s capital Caracas and major cities as the government deepens energy rationing amid a drought. In December major industries were forced to limit production.
Argentine Federal Judge María José Sarmiento postponed Monday her ruling over the use of Central Bank currency reserves to meet 2010 debt payments by turning the government's 'appeal on grounds of unconstitutionality' into an ordinary trial.
The Financial Times, a reference for global finances, has published an editorial comment highly critical of Argentina’s presidential Kirchner couple and their latest attempt to keep their cash-strapped administration afloat: getting hold of Central Bank reserves to pay debts and recover long lost international creditworthiness.
Martin Redrado the Argentine reinstated Central Bank president who dared defy the all powerful presidential Kirchner-couple is a low profile liberal economist who became involved in politics with former president Carlos Menem.
China's exports rose 17.7% in December, state media have reported, suggesting the country has overtaken Germany as the world's largest exporter. The rise, compared to a year earlier, breaks a 13-month decline in trade as a result of the global downturn.