Brazil's President Jair Bolsonaro Friday insisted he would not take any adventurous steps as he expressed his full support for Economy Minister Paulo Guedes amidst a rocking financial market.
In the midst of the critical situation that emerged following the results of Sunday 12 September primary election, and the cabinet reshuffle a week later, the government of Argentine president Alberto Fernandez nevertheless confirmed that this week it will honor a US$ 1,9bn repayment plus interests to the IMF.
Brazil's Central Bank chief Roberto Campos Neto admitted on Thursday that the January interest fixing rate policy meeting release may have generated more confusion in financial markets, instead of more transparency in communications.
US President Donald Trump on Friday ordered a probe into the actions of Chinese companies listed on American financial markets as tensions flared anew between the world's two biggest economies.
Brazilian Justice Minister Sergio Moro has threatened to resign if President Jair Bolsonaro goes ahead with plans to change the head of the federal police, according to reports in the daily O Estado de Sao Paulo. Moro insists it is the Justice minister that must appoint the Federal Police chief.
Argentina's president-elect Alberto Fernandez pledged to lead the country in a new direction on Tuesday amid a “difficult” domestic backdrop, as financial markets jumped around with investors grasping for any signs of the Peronist's future plans.
Argentines remember the role the IMF played in the last depression. They also remember the improvement in their lives under Kirchnerism. The following was published by The New York Times.
Investors in Argentina are starting to get the jitters. The gap in yield between local and U.S.-issued bonds has roughly doubled in the last month in the face of stubborn inflation and mounting peso outflows, heaping pressure on President Mauricio Macri ahead of elections later in the year.
United States and Chinese negotiators kicked off two days of official trade talks in Beijing on Thursday as the world's top two economies try to patch up their festering economic dispute. Pressure to seal an accord ahead of a March deadline lessened before the talks as US President Donald Trump indicated on Tuesday in Washington he was open to extending a trade truce, depending on progress in Beijing.
The Brazilian government posted a fiscal deficit of 41.13 billion reais (US$ 11.27 billion) in December, the third widest monthly deficit on record, the central bank said on Thursday. While it was in line with forecasts and amplified by seasonal factors, the shortfall highlights the challenge of exerting tighter control over the country's finances which new President Jair Bolsonaro has said is one of his top priorities.