The economy of Peru, the world’s second largest copper producer, is expected to grow an annual average of 5.1% between 2021 and 2026, the economy ministry said on Tuesday
Argentine Economy Minister Martin Guzman said on Friday the country has the necessary instruments to maintain the current exchange rate policy, despite tumbling foreign reserves and a ballooning gap between the official and informal peso exchange rates.
Brazil’s Economy Minister Paulo Guedes and the powerful lower house Speaker Rodrigo Maia announced a truce after more than a month of bickering over reforms and how to tackle a widening fiscal deficit. Local markets rallied.
Brazilian President Jair Bolsonaro's government unveiled a bundle of wide-ranging reforms on Tuesday, aimed at cutting spending and reducing the size of the state to drive down its chronic fiscal deficit.
Ecuadorean President Lenin Moreno said that his government will eliminate subsidies for diesel and low-octane gasoline and create a new corporate tax as part of a package of measures to narrow the country’s fiscal deficit.
Uruguay is experiencing, in recent months, a marked drop in investment and the generation of employment. Uruguayan Economy Minister Danilo Astori admitted Wednesday the fall of public accounts, with an annualized fiscal deficit in April that was 4.8% of GDP, and opted to provide greater incentives to investors and entrepreneurs. The Uruguayan press accuses the government of betting on the hope that the results will begin to be felt in the second half of the year, as it was heard a while ago in Argentina under the administration of President Mauricio Macri.
Argentina ran a primary fiscal deficit of 13.037 billion pesos (US$ 305.32 million) in March, the country’s Treasury minister Nicolás Dujovne said at a press conference on Monday, though posted a first-quarter surplus of 10.347 billion pesos.
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.
Brazil’s federal debt rose to 3.88 trillion Reais ($1.03 trillion) in December, up 8.9% from 3.56 trillion Reais a year earlier, and is expected to rise further this year, the Brazilian Treasury said. The Treasury predicts public debt this year will swell to somewhere between 4.1 trillion and 4.3 trillion Reais, the upper end of which would represent an increase of almost 11%, it outlined in its annual financing plan.
Ecuador’s finance ministry said it had placed about US$1 billion in 10-year sovereign bonds in the international market. Proceeds from the 10.75% bonds will be used to strengthen the country’s reserves and help fund this year’s budget which has financing needs of about US$ 8 billion, the ministry said in a statement.