South America News

Sun, 05 Feb 2023 09:31:00 UTC

Ecuador's president takes a gamble with a multi-item referendum

Lasso needs to revalidate his credentials through an electoral victory. Otherwise, his days as President will be steeply uphill The Ecuadorian Government of President Guillermo Lasso will seek Sunday to revamp an administration with waning popularity through a referendum whereby the citizenry is to allegedly set the guidelines for the future steps of the conservative head of state.

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Sun, 05 Feb 2023 09:25:00 UTC

BCRA's REM report forecasts 2023 inflation in Argentina will reach 97.6%

The new inflationary projections would mean a 0.8% improvement from 2022's figures but still one of the worst in the world With a Consumer Price Index (CPI) for January 2023 expected at 5.6%, Argentina's Central Bank (BCRA) issued a report Friday forecasting that inflation for the entire year would be 97.6% while the country's Gross Domestic Product (the sum of all services and goods traded) will only grow by 0.5%.

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Sun, 05 Feb 2023 08:57:00 UTC

São Paulo aircraft carrier sank despite ecologists' opposition

The sinking of the São Paulo came around at the same time as an offer from the Saudi group Sela who was willing to pay US$ 5.9 million for the structure. Too late. Brazil finally sank in a controlled manner the hull of what once was the pride of the South American country's Navy: the aircraft carrier São Paulo, also known as Foch during her time with the French Navy.

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Sat, 04 Feb 2023 11:44:00 UTC

De Moraes orders probe into Senator Do Val's statements regarding coup

Do Val was to record De Moraes saying something inconvenient to be later induced into certain decisions After Senator Marcos Do Val (Podemos-ES) claimed to have participated in a meeting with former President Jair Bolsonaro to discuss a coup d'état, Brazil's Supreme Federal Court (STF) Justice Alexandre De Moraes ordered Friday an investigation into such allegations.

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Sat, 04 Feb 2023 09:48:00 UTC

Foreign Ministers of Argentina, Türkiye discuss bilateral relations

Cafiero and Çavusoglu signed a Protocol on Cooperation in Science, Technology, and Innovation Foreign Ministers Santiago Cafiero of Argentina and Mevlüt Çavusoglu of Türkiye held a meeting Friday in Istanbul to discuss bilateral ties, with a focus on science and trade, it was reported.

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Sat, 04 Feb 2023 08:57:00 UTC

WB appoints new country director for Argentina, Paraguay, and Uruguay

Fay served as country director for Bolivia, Chile, Ecuador, and Peru The World Bank (WB) announced this week the appointment of US-French Economist Marianne Fay as its new Director for Argentina, Uruguay, and Paraguay to replace Jordan Schwartz, who will head the Eastern Europe division.

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Fri, 03 Feb 2023 10:40:00 UTC

Peru's advancing elections third-time unlucky

Guerra García insisted Peruvians “missed” former dictator Alberto Fujimori (1990-2000) Peru's one-house Congress voted once again Thursday against moving forward the elections to some time in 2023. It was the third such rejection in one week while the country sinks deeper into a political crisis which added one more fatality Thursday to the growing tally recorded since the impeachment of Pedro Castillo Terrones on Dec. 7, 2022. Several ministers are expected Friday to go to Congress to present another bill proposing an early election on October 8.

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Fri, 03 Feb 2023 10:23:00 UTC

Political crises might impact Latin America's economy, IMF team warns

The year 2023 is likely to be challenging for the region, the IMF found A technical team of the International Monetary Fund (IMF) has warned that political unrest in various regions of Latin America might have consequences for the economy since it would affect how the region is perceived worldwide.

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Fri, 03 Feb 2023 10:01:00 UTC

Brazilian Navy announces Sau Paulo carrier to be sunk despite environmental protests

The Sao Paulo performed only 206 days of operation in 15 years due to various technical problems and some accidents, including a fire with casualties The Government of Brazil plans to sink the decommissioned French-built Sao Paulo aircraft carrier in the middle of the Atlantic ocean after the depleted structure has spent months wandering with no port to dock for scrapping due to the presence of toxic materials in the hull, it was reported Thursday.

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Thu, 02 Feb 2023 10:59:00 UTC

Uruguay cattle breeders fear 'monopoly conditions' as Brazilian companies control most of the beef industry

BPU is a subsidiary of NH Foods Group, based near Durazno, in central  Uruguay, and is one of the most modern meatpacking plants in Uruguay and South America. Brazil's protein producer giant Minerva Foods issued a note to the market communicating the purchase of state-of-the-art Breeders and Packers Uruguay (BPU Meat) abattoir and processing plant for USD 40 million. The conclusion of the deal is still pending approval by the Uruguayan authorities.

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Thu, 02 Feb 2023 10:55:00 UTC

Peru's Congress once again votes against advancing elections

Had the bill been passed, the new authorities would take office in May 2024 Peru's Congress refused once again Wednesday to bring forward the elections to 2023 as requested by President Dina Boluarte who was acquiescing to the demands of the numerous demonstrators that flocked the streets and roads since the Dec. 7 impeachment of Pedro Castillo Terrones.

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Thu, 02 Feb 2023 10:44:00 UTC

"Lula won't last long," Bolsonaro warns

Bolsonaro admitted he did not know how much longer he will stay in the US Former Brazilian President Jair Bolsonaro said Wednesday during a speech before a group of his followers in the US State of Florida that the current administration of President Luiz Inàcio Lula da Silva might have its days numbered.

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Thu, 02 Feb 2023 10:32:00 UTC

Argentine opposition cries foul play in 2010 census

“Now begins the road to recover the resources that we lost [for] the other municipalities for 12 years!”  Valenzuela argued Leaders of the Argentine opposition Together for Change (Juntos por el Cambio - JxC) coalition Wednesday argued that census data regarding the population of the La Matanza constituency in the province of Buenos Aires had been tampered with in 2010 to collect undue co-participation funds for the next 12 years.

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Thu, 02 Feb 2023 10:28:00 UTC

Brazil Central Bank leaves benchmark rate unchanged at 13,75%; warns about fiscal policy

Copom reiterated that they “will not hesitate to resume the tightening cycle” if inflation does not cool as expected. Brazil's Central Bank on Wednesday left the Selic benchmark interest rate at 13,75%, but in the adjoining release, the bank's rate setting committee, Copom said the high interest rate policy is expected to last longer than market expectations because of fiscal risks

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Thu, 02 Feb 2023 10:15:00 UTC

Southern Brazil pork and poultry farmers concerned with Chinese demand for "overpriced" corn

Brazilian corn exports to China were cleared late last year after both nations updated trade protocols. Since then, several vessels have been booked Expectations of large Brazilian corn exports to China in 2023 are worrying Brazil’s meat companies, according to a statement from Santa Catarina’s meat processors lobby Sindicarne this week. The group said competition from Chinese buyers is already reducing local supplies and making corn used to feed poultry and pork an “overpriced” commodity.

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