Argentina is considering using new reserves to be issued by the International Monetary Fund to make a payment due to the lender in September, according to a person with direct knowledge, a move that would allow more time to overhaul an outstanding US$ 45-billion loan. The new IMF reserve assets, called special drawing rights, or … Read more
Latin American e-commerce powerhouse MercadoLibre Inc. is more than doubling its Brazilian investment this year, planning to deploy in 2021 the same amount it spent in the past four years combined. The firm plans to pour a record 10 billion reais (US$ 1.8 billion) into Brazil in 2021, up from four billion reais last year, to … Read more
The United Nations, The Inter-American Commission on Human Rights (IACHR) and members of the opposition expressed concerns over events in Formosa on Friday, after provincial police officers were accused of “repressing” protesters and using excessive force. Clashes between police officers and protesters gripped Formosa on Friday, as demonstrators took to the streets to oppose the … Read more
Six months after Argentina exited default, its new bonds have sunk to a mere 30 cents on the dollar. The depressed price is, in fairness, partly the result of the basic mechanics of the securities – they carry artificially low interest rates and a generous grace period – but it also reflects a grim reality that’s setting … Read more
Brazil President Jair Bolsonaro confirmed Thursday that he will travel to Buenos Aires on March 26 to attend the Mercosur summit. It will be the first face-to-face meeting between Bolsonaro and Argentina’s President Alberto Fernández, with ties between the two leaders severely strained. The Brazilian leader is a fierce critic of Peronism in general and … Read more
THE WEEK IN CORONAVIRUS There were 2,141,854 confirmed cases of coronavirus and 52,784 deaths at press time yesterday, as against 2,098,728 cases and 51,887 deaths the previous Friday. Last weekend there were protests against the “VIP vaccine” scandal which were not as massively attended as expected by the organisers, despite widespread public indignation, especially over … Read more
In his message to the Legislative Assembly last Monday, President Alberto Fernández opted for a tough tone and content against the International Monetary Fund, whom he held co-responsible for the colossal debt run up by the Maurico Macri presidency. The move kicks the chair out from under Economy Minister Martín Guzmán and the diplomatic strategy … Read more
Argentina has extended the deadline for companies to restructure debt in dollars due until December 31, according to an online statement from the Central Bank. The Central Bank of the Argentine Republic, known as BCRA, said Thursday that it will extend its deadline for companies to swap their dollar-denominated debt until December 31, according to a … Read more
From just a company with no operational activity four years ago, Vista Oil & Gas has become one of the largest oil producers in the shale-rich Vaca Muerta basin, and is aiming for further growth in 2021. On Friday, the firm announced it would increase spending this year to at least US$ 275 million, or … Read more
Extreme poverty in Latin America has reached its worst level in 20 years due to the coronavirus pandemic, a report by the UN said on Thursday. Poverty is also at its highest level in 12 years after the number of poor people in the region rose by 22 million in 2020 to 209 million. The … Read more