Brazil wants to alter the rules of the Mercosur trade bloc to make it more flexible, so that each country can independently negotiate trade agreements with other nations. “Our goal is for Mercosur to be an efficient negotiating bloc.” Brazil’s Foreign Minister Ernesto Araújo told the AFP news agency in an interview on Thursday. “If … Read more
Argentina’s government is investigating several food companies for allegedly withholding production or deliveries, possibly increasing oversight of an industry that already faces widespread price controls. The Production & Development Ministry plans to investigate Danone SA, Unilever PLC and Procter & Gamble Co, among others, for not “increasing production to its highest level of installed capacity” … Read more
State-run oil company YPF SA needs to come up with more than US$ 1 billion to spur drilling in Patagonia, where the firm is leading development of the biggest shale patch outside the United States. It’s not going to be easy. YPF restructured bonds last week to free up money to spend on shale, which … Read more
Brazilian President Jair Bolsonaro said that more changes are underway after naming a former general to replace the University of Chicago-educated economist running state-controlled Petroleo Brasileiro SA. The leadership change at Petrobras followed a feud with Bolsonaro over fuel prices after Petrobras adjusted them to align with international rates. His comments on Saturday may add … Read more
Argentina’s economic recovery sputtered out in December, tallying its worst month since the start of the pandemic. Economic growth month-over-month slowed to a crawl of 0.9 percent growth, down from 1.4 percent in November. After a short-lived bounce-back from the pandemic in May, the country still tallied an annual descent of 2.2 percent from December 2019, … Read more