Economic news from Latin America — MercoPress

  • Monday July 11, 2022 – 22:22 UTC

    Argentina’s Economy Minister Silvina Batakis warned on Monday that President Alberto Fernández’s government “will not spend more than we have”, while launching a series of measures aimed at curbing inflation and restoring federal reserves.

  • Monday July 11, 2022 – 10:17 UTC

    Argentine President Alberto Fernández and new Economy Minister Silvina Batakis reviewed over the weekend a series of measures that will be launched soon with the aim of curbing inflation and strengthening Treasury coffers.

  • Saturday July 9, 2022 – 10:15 UTC
    In this scenario, the newspapers of Buenos Aires are already talking about Batakis as a “minister of transition”.

    Argentine Economy Minister Silvina Batakis reportedly assessed several possible scenarios on Friday, all of which involve some form of devaluation of the local peso.

  • Saturday July 9, 2022 – 10:03 UTC
    The Central Bank endorsed its commitment to pursue a “contractual phase” as previously anticipated by the Monetary Policy Committee, COPOM.

    The Central Bank of Uruguay this week ordered a 50 basis point increase in interest rate policy, the eighth consecutive increase since last August. The move, which takes the policy rate to 9.75%, means the central bank has ordered increases of 525 basis points in total over the past 11 months. The 50 basis point hike was a bit weaker than the previous four hikes, which included April’s 125 basis point hike and three 75 basis point hikes.

  • Saturday July 9, 2022 – 09:52 UTC
    For the President of the United States, the overthrow of Roe v Wade is a nightmare already underway

    US President Joseph Biden issued an executive order on Friday that would mitigate the effects of the US Supreme Court’s recent overturning of the 1973 Roe v. Wade decision that paved the way for abortions nationwide.

  • Saturday July 9, 2022 – 09:30 UTC
    Total planted area is expected to grow by 5.8%, to 73.8 million hectares, while average crop productivity is expected to increase by 0.9%, to 3,693 kilograms per hectare.

    Given the more optimistic outlook for corn and wheat supplies, Brazil’s national supply company, Conab, has slightly increased the estimate for the 2021/22 cereal harvest. Overall, this means that Brazil is expected to harvest 272.5 million tonnes of grain for the current season, 6.7% more than the previous season.

  • Saturday July 9, 2022 – 09:06 UTC
    In June, international prices for vegetable oils, cereals and sugar fell, while prices for dairy products and meat increased.

    The barometer of global food commodity prices fell slightly in June for the third consecutive month, the Food and Agriculture Organization of the United Nations (FAO) reported on Friday.

  • Friday July 8, 2022 – 08:28 UTC
    Batakis also announced that there would be no increase in export duties

    Argentina’s new Economy Minister Silvina Batakis insisted on Wednesday that the country needs more efficient agricultural productivity and the consequent liquidation of assets through the official exchange system to add to the coffers of the Treasure.

  • Thursday July 7, 2022 – 10:00 UTC

    “The Falkland Islands is a fun place, it’s not for everyone, it’s quite a different lifestyle, but if you like it you tend to really like it. People who come to the Falklands and settle in the islands usually stay,” MP Leona Roberts told Spanish news agency EFE, in an interview at Falklands House in London.

  • Thursday July 7, 2022 – 09:30 UTC
    The Chinese market remains the main destination for Brazilian beef, increasing its share to 49% of the total shipped, with 437,000 tons purchased at the end of May.

    Brazilian beef exports in the second half of the year are expected to maintain their upward momentum, anticipates a report from the Dutch Rabobank, given strong demand from China, the United States, Egypt and the Arab Emirates States, reflected by an increase in tonnage estimated at 10% compared to 2021 .

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