News of recession

ECONOMIC INDICATORS

Inflation in June hit 2.2%, reveals INDEC

15-07-2020 18:21 Consumer prices outpaced expectations to rise by 2.2% last month despite the coronavirus lockdown. In the first six months of 2020 inflation totalled 13.6%, with prices up 42.8% over the last year.

CRISIS IN VENEZUELA

Venezuela's fuel shortages persist despite Iran deliveries

14-07-2020 14:59 Venezuela citizens are still forced to line up for gasoline, sometimes for days, despite Iran's major fuel shipment last month.

OPINION

Giorgio was right

04-07-2020 08:51 Quarantine has been renewed, presented as a lifestyle by the government.

by Pola Oloixarac

Coronavirus pandemic

Argentina surpasses 50,000 Covid-19 cases, new restrictions on way

26-06-2020 02:58 President Alberto Fernández set to announce return to strict lockdown in Buenos Aires metropolitan area, running from July 1 to 17.

Coronavirus economies

IMF forecasts deeper Latin America recession in 2020

24-06-2020 16:59 International Monetary Fund predicts 9.4% contraction in Latin America and the Caribbean, largely due to the economies of Mexico and Brazil, both of which are struggling to contain the Covid-19 pandemic.

Bloomberg

Paul Krugman: Liquidity trap has spread to emerging markets

12-05-2020 16:35 The so-called liquidity trap, when monetary policy loses its traction as interest rates get close to zero, has plagued rich countries for years – now, Nobel-Prize winning economist Paul Krugman says it has now spread to some emerging markets as well.

Bloomberg

Airline JetSmart negotiating help with Argentine, Chilean governments

07-05-2020 13:05 Low-cost airline JetSmart Airlines SpA is in talks with the governments of Chile and Argentina about helping the sector in the midst of the coronavirus pandemic, said its CEO, Estuardo Ortiz, in an interview with radio Pauta Bloomberg.

coronavirus pandemic

`If this thing boomerangs...' – Countries fear second wave of infections

07-05-2020 12:59 As Europe and the US loosen their lockdowns against the coronavirus, health experts are expressing growing dread over what they say is an all-but-certain second wave of deaths and infections that could force governments to clamp back down.

Coronavirus pandemic

Emerging-market survey sees Latin America as biggest virus loser

06-05-2020 11:13 Emerging markets are likely to see another sell-off later this year, puncturing their recovery from the coronavirus pandemic and adding to losses that have already totaled US$3 trillion, a survey has found.

Coronavirus pandemic

Argentina's economy to contract by 6% this year, says Moody's

01-05-2020 12:46 International rating agency forecasts 6% contraction in GDP due to impact of the coronavirus pandemic. Previously, it had projected a 2.4% drop in activity.

Coronavirus impact

LATAM to maintain 95% reduction of its operations until May

20-04-2020 08:00 The Chilean-Brazilian airline LATAM Airlines announced on Friday that the 95% reduction in its passenger operations announced in April will extend into May due to the coronavirus crisis, which will have a deeper impact than expected.

Drop in demand

OPEC sees demand for its crude dropping to lowest in 30 Years

17-04-2020 10:13 OPEC expects demand for its crude will fall to the lowest in three decades as the coronavirus outbreak freezes the global economy, underscoring the urgency of its promised production cuts.

BLOOMBERG – ANALYSIS

Argentina makes opening move in debt talks

17-04-2020 01:12 The highlights: a three-year moratorium, a 62 percent reduction in interest payments and a five-percent cut in the value of the principal.

Bloomberg - Opinion

Money is losing its meaning amid coronavirus pandemic

16-04-2020 15:32 Saving the global economy from the coronavirus pandemic is going to cost a lot of money. The sums involved are so large that they no longer have any meaning; they are simply abstractions.

ECONOMIC INDICATORS

Inflation in March hit 3.3% amid lockdown, rise in food prices

15-04-2020 18:42 Consumer prices rose faster than expected in March as the country went into a nationwide lockdown to contain the spread of the novel coronavirus.

Coranavirus pandemic

UK GDP 'could fall 13%' in 2020 as virus death toll climbs

14-04-2020 16:02 Britain's real GDP could fall by a whopping 35% in the second quarter of this year in the case of a three-month coronavirus lockdown, a government-funded watchdog forecasted Tuesday, as the country's death toll passed 12,000.

BLOOMBERG - OPINION

Norwegian Air shuttle tries a desperate final gamble

10-04-2020 18:12 Few airlines can be entirely confident of their survival right now. The ones in most danger are those that overextended themselves financially before the pandemic, and nobody pushed boundaries more than Norwegian Air Shuttle ASA, the budget transatlantic airline.

Coronavirus consequences

IMF chief predicts worst economic downturn since Great Depression

09-04-2020 22:32 IMF Managing Director Kristalina Georgieva says it's clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn.

Coronavirus pandemic

'Complete collapse of economies' ahead as Africa faces up to avirus

08-04-2020 07:50 More than half of Africa's 54 countries have imposed lockdowns, curfews, travel bans or other measures in a bid to prevent local transmission of the virus. Global economic downturn may lead to a ‘complete collapse’ in the region, according to experts.

Bloomberg

Peru tackles virus with region’s biggest stimulus, eyes IMF help

30-03-2020 19:58 Peru is moving to fend off economic catastrophe with a record fiscal stimulus and plans for a contingency line of up to US$18 billion from the International Monetary Fund to contain the fallout from the coronavirus pandemic.

Bloomberg

Goldman Sachs warns Latin America's recession may be worse than 1980s

30-03-2020 19:45 Latin America's economies are deteriorating faster than ever before and are heading for their worst post-World War II contraction, according to Goldman Sachs Group Inc.

CHAMBER OF COMMERCE

Firms will go bankrupt within 30 days of no work, warns business lobby

28-03-2020 08:56 Argentina’s Chamber of Commerce praises government’s handling of coronavirus crisis but warns that paralysis of economic activity will hit companies hard.

Bloomberg

Argentina's recession to deepen as virus foils Fernández's plans

26-03-2020 16:50 Economists forecast deepening of economic contraction for the third year running, highlighting just how difficult it will be for President Alberto Fernández to change things.

Pandemic Consequences

Dow plummets again as sell-off over the coronavirus deepens

12-03-2020 13:24 Stocks slide, triggering brief, automatic shutdown in trading for the second time this week. Oil also declined, price per barrel plummeting to under US$31.

Coronavirus outbreak

Facing recession, Europe grasps for ways to limit damage

11-03-2020 09:52 The European Commission, in conjunction with individual efforts from member-nations plans to set up a 25 billion-euro (US$28 billion) investment fund to support the health care system, businesses and labor market measures.

Coronavirus Consequences

Dow drops 1,500 points as oil price plunge shocks markets

09-03-2020 11:41 With Covid-19 spreading across the globe, the demand for oil plummeted more than 20 percent, sending shockwaves throughout the global economy and threatening a global recession.

Economic indicators

Data shows businesses in Argentina cutting jobs amid crisis

09-03-2020 08:00 Argentina lost 28,500 private sector jobs in December, the worst monthly decline in four years, according to government data released on Thursday.

BLOOMBERG: OPINION

Argentina’s government needs to speak with one voice on debt

21-02-2020 08:38 Before Argentina can come up with a solid economic plan, it needs a credible political pact. That takes a government which speaks with one voice, mutes the palace incendiaries and treats debt and economic recovery not as a passion play but as part of a national business plan.

by Mac Margolis

DEBT HISTORY

Argentina and the IMF: a story of love and hate

17-02-2020 07:00 History looms large, as government officials continue to meet with mission team from the International Monetary Fund.

Bloomberg

Paraguay set for economic rebound after recession

14-01-2020 16:04 Central Bank chief says Paraguay's economy will expand 4.1% as a broad recovery spanning agriculture to industry takes hold.

Bloomberg

Economy grows faster than expected, technically ending 18-month recession

18-12-2019 00:23 Argentina’s economy grew faster than expected in the third quarter, technically ending an 18-month recession.

BLOOMBERG

Blow for Fernández as crop windfall slips away

09-12-2019 13:42 President-elect needs all the help he can get to pull the country out of recession and make good on bond payments. But he faces a speed bump from the crop industry.

TRANSITION 2019

The risks of fragmented polarisation

16-11-2019 09:33 Depending on how the economy features in the coming months and how the coalitions manage to sustain complex internal balances, polarisation could soon crack into fragmentation, with unpredictable political consequences.

by Marcelo J. Garcia

ECONOMIC INDICATORS

Inflation in October hit 3.3%, reports INDEC

14-11-2019 16:38 Prices have risen by 40.2% since turn of the year and by 50.5% over last 12 months, according to official data.

ECONOMIC INDICATORS

Inflation in September reached 5.9%, the highest figure of the year so far

16-10-2019 16:26 Prices have risen by 37.7% in 2019 so far and by 53.5% over the last 12 months, according to INDEC's CPI index.

BLOOMBERG

Is the world economy sliding into first recession since 2009?

15-10-2019 09:11 The global economy is wobbling and whether it topples over is the big question in financial markets, executive suites and the corridors of power.

ECONOMIC DOWNTURN

World Bank: Slowdown in Latin America 'more self-inflicted than imported'

10-10-2019 15:19 World Bank predicts Argentina's economic contraction will deepen this year to 3.1%.

FINANCIAL POLICY

Brazilian Central Bank cuts interest rate to record low

19-09-2019 16:30 Monetary authority slashes interest rates to a record low 5.5% for the second time in less than two months, as Latin America's biggest economy expresses concerns over "more intense slowdown in the global economy."

ECONOMIC INDICATORS

Inflation in August reached 4%, so far this year prices up 30%

12-09-2019 16:32 Price increases accelerated last month, according to INDEC bureau. Inflation over last 12 months now totals 54.5%

ELECTION 2019

Alberto Fernández: Difficult times ahead due to 'decimated' economy

10-09-2019 07:48 "If I win, I know that the first years of my management will be difficult because I will receive a decimated economy," declares Frente de Todos presidential candidate.

ECONOMIC INDICATORS

Macri: Inflation in August will be above three percent

27-08-2019 14:43 "It's going to be three-something in August. It's not good, it's very bad," the president said at an event alongside agricultural producers and farm-owners.

ECONOMIC INDICATORS

Inflation for July 2.2%, prices up 25.1% in last seven months

15-08-2019 16:17 INDEC data reveals prices have risen by 54.4% over the last 12 months.

Signs of recovery

Argentine economy grows 2.6 percent in May due to boost from harvest

26-07-2019 16:41 The positive figures broke 12 consecutive months of economic recession and is a major victory for president Macri who faces a tight reelection campaign.

ECONOMIC OUTLOOK

Brazil faces recession risk after economy shrinks in first quarter

31-05-2019 07:39 Latin America's biggest economy on brink of recession once again, new data confirms.

POVERTY & INEQUALITY

Brazil's poor are squeezed as inequality grows

28-05-2019 13:50 Study released this month by the Getúlio Vargas Foundation found that the key measure of income inequality has reached its highest level since the series began seven years ago, with Brazil among the most unequal nations in a broader region where the gap between rich and poor is notorious.

AS I SEE IT

Dreaming of a quick fix

15-09-2018 12:48 If Cristina’s cronies really did bury containers stuffed with paper money in remote Patagonian farmsteads, they will have been full of dollars, euros, Swiss francs, pounds sterling, yuans and yens, not pesos.

AS IMF VISITS

Soy exporters suffer brunt of US$2.25b austerity package

18-08-2018 09:51 The government hopes to save 65.5 billion pesos in the next 16 months by freezing planned tax cuts on soy byproducts for six months and winding back export duty rebates.