Tag: economy

• Thursday, June 18th 2020 - 13:30 UTC

  Chile heading for its worst economic contraction in 35 years, central bank

  

  The Chilean central bank said on Wednesday that the economy of the world’s top copper producer would contract between 5.5% and 7.5% in 2020, taking it to the lowest levels since the Latin American debt crisis of the 1980s.

• Tuesday, May 5th 2020 - 07:00 UTC

  Surprise: Brazil's retailer industry finds a consolidated e-commerce sector as it gradually reopens

  

  Brazil's battered retailers are starting to reopen after weeks of coronavirus lockdown but may exit the crisis transformed, with the e-commerce sector strengthened and brick-and-mortar chains facing an uphill path to normality.

• Monday, May 4th 2020 - 07:58 UTC

  Bolsonaro's anti confinement rally in Brasilia attracts thousands

  

  Brazil's President Jail Bolsonaro railed against the country's lockdown on Sunday in a speech to thousands of anti-confinement demonstrators as the number of confirmed COVID-19 infections passed 100,000, with more than 7,000 deaths.

• Monday, May 4th 2020 - 07:57 UTC

  Argentina willing to continue talks with bondholders; ensuring sustainability of the debt is the target

  

  Argentina is willing to keep working toward a deal to restructure its debt if an offer that expires on Friday is rejected, the economy minister said. Economy Minister Martin Guzman told Argentine daily Clarin in an interview published on Sunday that he is seeing a “growing understanding” with bondholders ahead of a May 8 deadline for the offer that creditor groups already criticized.

• Thursday, April 30th 2020 - 07:28 UTC

  Fed admits public health situation will “weigh heavily on economic activity, jobs and inflation”

  

  The Federal Reserve on Wednesday left interest rates near zero and repeated a vow to do what it takes to shore up the U.S. economy amid an ongoing coronavirus pandemic that will not only “weigh heavily” on the near-term outlook but poses “considerable risks” for the medium term as well.

• Wednesday, April 29th 2020 - 09:41 UTC

  Uruguay and Argentina presidents discuss the future of Mercosur

  

  Uruguayan president Luis Alberto Lacalle Pou and his Argentine peer, Alberto Fernandez held a half-hour video conference Tuesday mid-morning to address the recent decision by the current Argentine administration to freeze Mercosur free trade negotiations with potential new partners and instead concentrate efforts in overcoming the COVID-19 pandemic and its sanitary, social, economic and employment consequences.

• Wednesday, April 29th 2020 - 07:56 UTC

  Argentina's debt restructure haircut proposal “is not enough” and will have to be revisited, says ex IMF economist

  

  Argentina’s latest effort to restructure its overseas debt probably won’t be its last, according to ex IMF advisor and Harvard University economist Carmen Reinhart, who has sounded alarms overcoming emerging markets crises in Venezuela and Turkey.

• Friday, April 24th 2020 - 08:28 UTC

  Brazil's Real remains at record low: overstretched budget and another interest rate cut next week

  

  Brazil's Real eyed a fresh record low on Thursday, while other Latin American currencies were muted as markets mulled over increasingly dire economic readings due to the coronavirus.

• Thursday, April 23rd 2020 - 11:17 UTC

  Argentina misses US$ 500 million payment on Wednesday; default by end of May?

  

  Argentina said it didn’t make US$ 500 million in debt payments due Wednesday, starting a 30-day countdown to a possible default unless the government and bondholders can reach a deal on restructuring its massive foreign debt.

• Thursday, April 23rd 2020 - 11:05 UTC

  Argentina's foreign trade during March dropped 17,6%

  

  Data released on Wednesday by the National Institute of Statistics and Censuses (Indec) of Argentina showed that its foreign trade with other countries fell 17.6% in March, compared to year-ago. The trade flow reached US$7.49 billion, in the third month of the year.