Consumption in Argentina has dropped below the pandemic and 2001 levels as the South American country's economy continues its erratic behavior under Libertarian President Javier Milei, whose administration depicts a different scenario. A survey conducted by the pollsters Scentia showed the loss of purchasing power and the recession on mass consumption.
China and Brazil celebrated on August 15, fifty years of diplomatic relations, which with time paved the way for Beijing to become Latin America's largest economy main trading partner.
In July 2024 the Falkland Islands Fisheries Department conducted a routine pre-season survey prior to the second Loligo season, working in close partnership with local fishing companies. The survey results showed the lowest second pre-season biomass estimate since 2008, with the lower end of the estimate being below the Fisheries Department safe stock replenishment threshold of 10,000 tonnes.
The Monetary Policy Committee (Copom) of Uruguay's Central Bank (BCU) decided Friday to maintain the Monetary Policy Rate (MPR) at 8.5% for the third month in a row to help keep inflation downwards and en route to the 4.5% Monetary Policy Horizon, it was announced in Montevideo after the first Copom meeting chaired by BCU's new president, Washington Ribeiro.
The Panama Canal Authority (ACP) has sent a notice to shipping lines announcing that the maximum draught for vessels passing through the Neopanamax locks between the Atlantic and Pacific Oceans has been increased to 50 feet (15.24 meters). The ACP explained this decision was made in light of the current and projected water levels in Lake Gatun for the coming weeks.
During his appearance at the Expo Real Estate event, Argentine President Javier Milei explained Thursday his currency competition plan and also delved into the matter of closing down the Central Bank, one of his main campaign promises. The head of state also stressed that thanks to the economic adjustment undertaken by his administration a debt rollover for part of 2025 had been guaranteed.
The Santiago de Chile-based Economic Commission for Latin America and the Caribbean (ECLAC) issued this week a new edition of its annual Economic Survey of Latin America and the Caribbean 2024 report highlighting the region's poor investment performance, low labor productivity, and limited fiscal space.
Argentina's Consumer Price Index (CPI) went up 4% in July, the National Institute of Statistics and Census (Indec) announced Wednesday in Buenos Aires. Thus, interannual inflation stood at 263.4%. So far in 2024, prices rose by 87%.
Deputy Foreign Minister Nicolás Albertoni met Monday with his Chinese colleague Hua Chunying in Montevideo as the Southern Common Market (Mercosur) under Uruguay's rotating presidency kept pushing for a Free Trade Agreement with the Asian giant. Also present were dignitaries from the other members of the regional bloc as well as Beijing's Ambassador Huang Yazhong.
Argentina’s economic relationship with China has become increasingly important, with growing trade highlighted by increasing Argentine beef exports, points out the English language China Daily. Something which to a certain point is surprising, given the electoral campaign speeches of president Javier Milei, condemning all authoritarian regimes.