News of global economy

Global energy crisis comes to drought-stricken South America

04-10-2021 20:39 The energy crisis sweeping the globe is about to hit South America, where a historic drought has the region desperate to replace a collapse in hydroelectric generation.

POVERTY

Poverty in Argentina reached 40.6% in first half of 2021

01-10-2021 21:00 INDEC data shows extreme poverty in Argentina rose to 10.7% of population by end of June; Poverty rate down 1.4 percentage points from the second half of 2020.

Startups

Venture capital surge delivers record for 'unicorn births'

08-07-2021 11:41 According to a report by US-based firms, startups globally raised $156 billion between April and June, the highest level in a decade for the second quarter.

G20 SUMMIT

Historic global tax deal backed by 130 nations

01-07-2021 23:08 A total of 130 countries, including Argentina, agree global reform to ensure multinationals pay at least 15% tax wherever they operate. Move could add some US$150 billion to government coffers worldwide.

TAX INITIATIVE

Global tax floor of 15% would be ‘too low,’ says Guzmán

29-06-2021 08:37 Economy Minister Martín Guzmán says Argentina's position is that a global floor of 15 percent for corporate taxation would be “too low.”

Poverty

Pandemic and economic crisis pushes poverty rate up to 42%

31-03-2021 19:50 More than four in 10 Argentines were living in poverty in the second half of 2020, INDEC national statistics bureau reveals – the highest level since 2004.

Global pandemic

Vaccine delays threaten economies hardest hit by pandemic

23-02-2021 12:24 Latin America and the Caribbean, the region where the coronavirus caused the worst economic destruction and more than a quarter of the world’s deaths, is now falling victim to a slow inoculation campaign.

ECONOMIC FORECAST

IMF cuts Argentina’s 2021 growth estimate to 4.5%

30-01-2021 08:16 Fund predicts strong economic rebound across the globe, but trims forecast for local economy by 0.4%.

FOOD PRICES

UN: World food prices jump to six-year high

03-12-2020 19:26 Global food commodity prices rose sharply in November to their highest level in nearly six years, the UN food agency said Thursday, due in part to adverse weather conditions.

US ELECTION 2020

Biden faces tall order reviving Washington's global role

14-11-2020 10:49 US President-elect Joe Biden has vowed to restore America’s moral authority in the world but after four years of norms-shattering by Donald Trump, he will have his work cut out for him.

Global pandemic

IMF envisions a sharp 4.4% drop in global growth for 2020

13-10-2020 11:39 International Monetary Fund predicts steep fall in international growth this year as the global economy struggles to recover from the pandemic-induced recession. Argentina's economy now forecast to contract by 11.8%.

Global pandemic

Up to 150 million could join extreme poor, warns World Bank

07-10-2020 15:40 Up to 150 million people could slip into extreme poverty, living on less than US$1.90 a day, by late next year, says World Bank.

BLOOMBERG

IMF sounds debt warning as it offers rethink on restructurings

01-10-2020 15:17 IMF sounds a warning over rising global debt levels and proposed reforms to the debt-restructuring process for countries that struggle to meet their obligations.

Bloomberg

World economy seen withstanding virus better than forecast

16-09-2020 15:35 OECD upgrades the global outlook, but makes huge downward revisions to a number of emerging markets. India, Argentina, Mexico and South Africa will suffer more than predicted in June, it says.

DEBT RESTRUCTURING

Argentina exits default after US$65-billion debt deal

07-09-2020 21:53 Nation officially emerges from its ninth default after Standard & Poor's Global raised its credit rating following the restructuring of US$65 billion of overseas debt.

CORONAVIRUS PANDEMIC

As virus cases surge, Brazil starts to worry its neighbours

02-05-2020 10:21 Local Argentine officials say they are particularly worried about truck traffic from Brazil, their top trading partner.

Bloomberg - Long read

Trump’s oil deal: the inside story of how a price war ended

13-04-2020 16:13 After a week-long marathon of calls between world leaders and video conferences featuring dozens of energy ministers, this is how the 2020 oil price war was finally ended.

THE GLOBAL PANDEMIC

We don’t have what it takes to face this economic crisis

11-04-2020 08:18 It is difficult to envision how Argentina, the region and the world will come out of this mess unless a generalised, global set of solutions is put on the table.

by Agustino Fontevecchia

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.

Bloomberg

IMF’s new leaders confront biggest test, as global economy reels

26-03-2020 20:22 The International Monetary Fund is facing one of its biggest tests since the body’s creation at the close of World War II, with new leaders charged with keeping the global economy from the abyss.

Bloomberg

IMF cannot offer Argentina a haircut on loan, Georgieva says

17-02-2020 08:36 IMF chief rules out a haircut, but says her organisation backs Alberto Fernández administration's bid to return country to growth.

Bloomberg

Troubled times in Latin America fail to dull Brazil's sheen

06-11-2019 13:56 For all its political woes and still-stale economy, Brazil is standing out to investors as an unlikely island of stability as trouble brews across Latin America.