Global economic outlook From impending catastrophe to moderately optimistic? 04-02-2023 06:09 Just as the global economy was heading into an unavoidable recession, sentiment seems to have been reversed and optimism is taking over. by Agustino Fontevecchia
BLOOMBERG Disappearing barbecues show global beef demand is under pressure 30-01-2023 17:09 It’s not uncommon to see meat-buying slide during downturns for the economy. What’s striking is that demand is falling faster in many of the countries where beef has traditionally been the protein of choice
NEW YEAR APPROACHES World economy faces more pain in 2023 after a gloomy year 27-12-2022 09:56 International Monetary Fund expects the world economy to expand in 2023, with growth of 2.7%. The OECD is forecasting 2.2% growth.
EDITORIAL Christmas this Sunday or last (or both)? 24-12-2022 06:45 The word “catharsis” has been overused in the past month because of its tempting overlap with the World Cup host country’s name but the shoe fits – there was an element of catharsis for a country still emerging from the coronavirus pandemic and enduring over a decade without any sustained growth since that 2010 bicentenary.
EDITORIAL You can only dream when there’s a team 17-12-2022 05:55 The Scaloneta’s smooth passage into tomorrow’s World Cup final in Qatar following last Tuesday’s semi-final has given a troubled nation an outburst of unanimous joy not seen in a long time. The key? Teamwork.
Bloomberg World Cup win could bring GDP boost to France or Argentina 16-12-2022 14:26 Argentina is better placed than France to reap the economic benefit that typically comes from winning the World Cup, says one academic.
ECONOMIC OUTLOOK OECD forecasts slowdown for Argentina’s economy in 2023 22-11-2022 14:42 Argentina’s GDP will grow 4.4% this year and by just 0.5% the following; Global GDP will increase 3.1% in 2022 – nearly half the rate of previous year, forecasts Organization for Economic Co-operation and Development.
EDITORIAL Qatar – catharsis or the opposite? 18-11-2022 00:13 Argentina’s main risks currently lie in peso rather than dollar debt since obtaining rollovers from the IMF seems to be pushing at an open door. In contrast, peso bonds and the resulting quasi-fiscal deficit cannot be underestimated as prime causes of swelling the peso demand for the dollar.
BLOOMBERG South America rain offers hope for relief in world food prices 15-11-2022 21:28 Rain finally fell in Argentina over the weekend and soy farmers started revving up tractors to make up for lost planting time.
BLOOMBERG – ANALYSIS From Coldplay shows to the World Cup, Argentina mixes exchange rates 12-10-2022 08:23 Government officials on Wednesday will roll out new taxes applied to the official exchange rate for foreign travel ahead of the World Cup in Qatar next month and for locals attending concerts by artists such as British rock band Coldplay.
ECONOMIC INDICATORS IMF maintains Argentina 2022 growth forecast at 4% 11-10-2022 17:44 International Monetary Fund maintains outlook for Argentina this year: 4% growth.
WORLD ECONOMY Strong US dollar an unstoppable force endangering other currencies 30-09-2022 14:19 The dazzling rise of the US dollar, which has hit one record after another, is raising fears of a severe currency crash that could reverberate around the world.
WORLD ECONOMY OECD: World economy to slow, 'paying the price of war' 26-09-2022 15:33 OECD reduces Argentina's growth forecast for 2023 by 1.5 points, predicting an expansion of 0.4% next year. Outlook for this year remains unchanged, with estimated growth of 3.6%.
Bloomberg Broker’s model sees Argentina beating England in World Cup Final 20-09-2022 13:28 A London-based stockbroker has forecast victory for Argentina and yet more years of hurt for England football fans, according to its model predicting the winner of the upcoming FIFA World Cup.
BLOOMBERG China steps up soybean buying from US, Brazil, Argentina 01-09-2022 01:49 China is stepping up soybean imports to meet rising demand ahead of a seasonally strong period for consumption.
Bloomberg Argentina Economy Minister says she has strong political support 27-07-2022 15:55 New Economy Minister for Argentina Silvina Batakis tells Washington reporters she will stabilise economy, claiming strong political support from the government.
G7 SUMMIT President condemns Russia’s invasion of Ukraine at G7 summit 27-06-2022 17:06 Alberto Fernández criticises “economic system that allows wealth to accumulate in the hands of the few” at meeting of world leaders in Bavaria.
WORLD ECONOMY How do interest rates affect the real economy? 16-06-2022 12:42 Faced with the highest inflation in four decades, central banks in the United States, eurozone and UK are hiking interest rates in order to contain inflation.
ECONOMIC OUTLOOK IMF upgrades Argentina growth projection ahead of Guzmán talks 19-04-2022 16:26 Multilateral lender predicts GDP will improve by 4% in 2022 but sees inflation topping out the year at 48%.
BLOOMBERG - ANALYSIS Global energy upheaval threatens years of natural gas shortages 07-04-2022 22:05 War, the energy transition, severe weather and surging demand are creating a period of upheaval that is tightening natural gas supply like never before.
BRAZIL UNDER BOLSONARO Brazil exits recession, but faces tough year ahead 06-03-2022 09:02 Brazil exited recession in the fourth quarter, but weak growth and high inflation still dog Latin America's biggest economy.
NEW ROUND OF FUNDING World Bank approves US$2 billion of funds for Argentina in 2022 23-02-2022 12:45 World Bank commits more than US$2 billion in fresh funding to Argentina following meeting with officials.
Global pandemic UK PM Boris Johnson ends Covid rules in England in major policy shift 21-02-2022 14:38 Boris Johnson confirmed coronavirus rules will end in England, a significant boost to the UK prime minister as he announced the first major Western economy to scrap government restrictions relating to the pandemic.
economy US consumer prices rose 7.5% annually to January – largest since 1982 10-02-2022 11:56 Consumer prices in the United States rose at an annual rate not seen since February 1982, with a 7.5% increase over the 12 months to January.
BLOOMBERG – ANALYSIS US inflation charges higher with larger-than-forecast gain 10-02-2022 11:41 Consumer prices in the United States surged in January by more than expected, sending the annual inflation rate to a fresh four-decade high.
IMF DEBT TALKS Guzmán’s wet dream 28-01-2022 22:14 It isn’t entirely clear whether this is a good or a bad agreement for Argentina, but there should be no doubts that the beleaguered nation needed to reach some sort of deal with the IMF ahead of an impossible debt calendar. by Agustino Fontevecchia
THE YEAR TO COME World economy now set to surpass US$100 trillion in 2022 29-12-2021 21:54 The world economy is set to surpass US$100 trillion for the first time in 2022, two years earlier than previously forecast, according to the Centre for Economics and Business Research.
Global inequality Billionaires' share of global wealth soars during pandemic 07-12-2021 15:34 The club of the richest 1% in the world has taken more than a third of all additional wealth accumulated since 1995, while the bottom 50% captured just 2%.
GLOBAL WARNING IMF warns of 'economic collapse' unless G20 extends debt relief 02-12-2021 15:37 IMF urges G20 nations to extend and improve debt relief initiatives, warning that many countries face a dire crisis without the help.
NEW STUDY World Bank: 40% of households in Argentina lost income during pandemic 30-11-2021 21:56 According to the World Bank, "food insecurity" almost doubled in Latin America and the Caribbean during the pandemic, with almost 40% of homes in Argentina hit by a drop in earnings.
ENVIRONMENT Climate talks in times of crisis: Your roadmap to COP26 25-10-2021 11:15 Glasgow will welcome world leaders and thousands of attendees for the crucial COP26 United Nations summit on climate change in November.
ENVIRONMENT As COP26 nears, the toughest goals are still out of reach 25-10-2021 09:51 With seven days to go until global climate talks kick off in Glasgow, the chances of success remain decidedly mixed.
Price increases World Bank rules out risk of hyperinflation in Argentina 06-10-2021 21:22 World Bank official plays down risk of hyperinflation in Argentina and says new agreement with International Monetary Fund regarding multi-billion-dollar debt will further reduce possibility.
PANDORA PAPERS LEAK Chile's opposition accuses President Piñera after Pandora Papers report 06-10-2021 13:01 Opposition lawmakers in Chile said Tuesday they will present a parliamentary charge that could lead to the removal of President Sebastian Piñera following allegations related to the Pandora Papers leak.
PANDORA PAPERS LEAK Pandora Papers: the latest mega leak on tax-dodging 06-10-2021 09:35 The Pandora Papers leak is the latest – and biggest – to shine a light on tax evasion of the rich and powerful from the whistleblowing International Consortium of Investigative Journalists (ICIJ).
PANDORA PAPERS LEAK Argentina ranks third for offshore bank accounts in 'Pandora Papers' leak 05-10-2021 09:25 New leak of nearly 12 million documents from financial services firms shows how elite use tax havens to stash assets worth hundreds of millions of dollars. Number of Argentines appear, including Gianfranco and Mariano Macri, Jaime Durán Barba, Daniel Muñoz, Ángel Di María, Javier Mascherano, Mauricio Pochettino and Zulemita Menem.
TECH GIANTS Facebook, Instagram, WhatsApp hit by widespread outage 04-10-2021 20:55 Facebook battled duelling crises on Monday as it faced a large-scale outage of its dominant social network for seven hours, and fought against a whistleblower's damning revelations.
Bloomberg 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.
BLOOMBERG Debt load threatens Latin America jobs recovery, World Bank says 14-09-2021 12:06 Latin America’s heavily-indebted corporations are likely to delay rehiring workers during the recovery from last year’s slump, according to the World Bank.
BLOOMBERG The Argentine river that carries soybeans to world is drying up 06-08-2021 11:22 Key waterway’s troubles deepen strains on nation’s recovery; Falling export values, rising energy imports chip away at peso.
NEW REPORT WTO: Argentina among top 15 countries with most import barriers 28-07-2021 22:00 New WTO and UNCTAD technical report warns country is among those which slap the most levies on the entry of products, with Brazil next in 16th position.
15% AGREED Global tax overhaul nears historic deal amid last-minute hurdles 03-07-2021 13:31 Deal is a victory for the Joe Biden administration and its global allies, although it still faces multiple significant obstacles to completing an ambitious plan that has been years in the making.
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.
Bloomberg WeWork posts best sales since dropping IPO plans in 2019 21-06-2021 10:50 Global co-working company records best net desk sales since September 2019 and forms joint venture with SoftBank Latin America Fund to oversee the operations in Argentina, Brazil, Chile, Colombia and Mexico
Global pandemic Colombia's Covid death toll surges toward 100,000 as economy reopens 17-06-2021 17:49 Colombia has the fourth-highest per-capita death rate in the world over the past week. New daily cases have topped 29,000 this month, threatening to overwhelm the health system. But large swathes of the economy are set to be reopened.
Economy World Bank forecasts 'modest recovery' for Latin America and Caribbean 09-06-2021 14:51 Latin America and the Caribbean will have "modest economic recoveries" in 2021, the World Bank has warned. Argentina's economy forecast to rebound 6.4% this year.
Corporate taxation Guzmán praises G7's minimum global corporate tax initiative 06-06-2021 09:32 Argentina's economy minister says move to create a global minimum corporate tax rate of 15% is "a positive step to attack tax avoidance from multinationals."
WORLD ECONOMY G7 strikes 'historic' agreement over global corporate tax 06-06-2021 09:24 Group of Seven rich nations agree landmark deal that could help countries collect more taxes from big companies and enable governments to impose levies on tech giants such as Amazon and Facebook.
As I see it Life after the great pandemic 01-05-2021 00:43 Hopes that the pandemic would abolish history by putting things in perspective and unite the world are still floating around, but they owe more to wishful thinking than to anything else. by James Neilson
THE WEEK What we learned this week: April 25 to May 1 01-05-2021 00:01 Our pick of the stories that caught our eye over the last seven days in Argentina.