Venezuela and Qatar have pledged to strengthen their cooperative and friendly relations, as established in a meeting held in Caracas between Venezuelan Foreign Minister, Yván Gil, and the Qatari Ambassador to Venezuela, Rashid Mohsin Fetais. Gil stated the dialogue’s goal was to bolster bilateral ties. In May, the Venezuelan government acknowledged the 50th anniversary of […]
The U.S. Federal Reserve has increased its interest rates by a quarter percentage point to a range of 5.25-5.50%, marking the highest level in 22 years. This rate hike, the 11th since March 2022, was enacted without clear indication of further planned increases in the near future. This strategy is used to curb inflation by […]
The Bank of Mozambique's Monetary Policy Committee (CPMO) has announced that the monetary policy interest rate, also known as MIMO, will remain at 17.25%. This decision is grounded on a range of factors such as potential risks, uncertainties, and pressure on public expenditures, along with ongoing international conflicts. Despite these challenges, the bank expects inflation […]
The Mozambican special forces, trained by the European Union (EU) to tackle insurgent activities in the Cabo Delgado region, have demonstrated notable progress on the field, says Rogério Martins de Brito, commander of the EU Training Mission in Mozambique (EUTM). These forces have been designed as Quick Reaction Forces (QRF), with capabilities such as high […]
Chinese mining firms are expanding their lithium extraction operations in Argentina. The Argentine government recently reported that these companies are promising to pour billions into the country’s rich lithium reserves following a meeting in Shanghai between the Economy Minister Sergio Massa and Chinese companies. Tibet Summit Resources, Ganfeg Lithium, and Tsingshan Holding Group are among […]
During the initial quarter of 2023, Brazil witnessed an unprecedented influx of 51,838 Venezuelan migrants and refugees, the largest recorded for this period since data collection began in 2017. As per the reports released by Operação Acolhida, an initiative involving the Brazilian government, UN agencies, and numerous local and international partners, the total number of […]
In the first half of 2023, Venezuela’s economy has seen two strong contractions resulting in a 7% drop, as reported by the Venezuelan Finance Observatory (OVF). This suggests the economy has entered a new recessionary phase. Despite increased oil production, the decline is primarily attributed to weakened domestic aggregate demand. Some contributing factors have not […]
Uruguay is making strides toward its US$4.3 billion financing goal this year by issuing local currency debt on the domestic capital market. The move is a strategic response to slowing inflation, enabling Uruguay to decrease its dependence on dollar-based loans, according to Azucena Arbeleche, the Minister of Economy and Finance. As of this year, Uruguay […]
Ecuador experienced a rise in poverty and extreme poverty in the first half of 2023, with rates reaching 27.0% and 10.8% respectively by June, according to the National Institute of Statistics and Census of Ecuador (INEC). This suggests that 27 out of every 100 individuals in Ecuador live in conditions of income poverty, per the […]
Amid ongoing challenges in South Africa, private companies have begun stepping in to provide essential services traditionally provided by the government. In cities like Johannesburg, businesses such as Discovery Ltd., Sibanye-Stillwater Ltd., and others, are financing infrastructure improvements, educational upgrades, and security initiatives. Economic analysts argue this private intervention is a response to government corruption, […]
In the first half of 2023, Argentina’s industrial sector saw a significant rise, recording its best performance since 2016. The overall growth in the industrial activity index (IPI), which is based on energy consumption data provided by the Compañía Administradora del Mercado Mayorista Eléctrico (Cammesa), was 1.9% compared to the same period in 2022 and […]
(Opinion) Bolivia has often been a surprising headline-maker, from multi-million dollar international drug trafficking and corruption cases to irregular economic assertions. Now, it’s the spotlight of a significant security issue through a freshly inked agreement with Iran involving the purchase of Iranian drones by Bolivia. This alliance between Bolivia and Iran’s regime has raised international […]
In response to the detection of avian influenza in wild migratory birds, the government of Paraná, a significant poultry producer state in Brazil, has proclaimed a zoo-sanitary emergency. The declaration intends to facilitate swift action should any indication of industry contamination surface. This initiative aligns with the Ministry of Agriculture's recommendation, which applies to all […]
Russia’s parliament has approved a law enabling regional governments to create local militias aimed at supporting security agencies in maintaining public order, which includes countering saboteurs, as reported by Russian state news agency Tass. The decision comes in the wake of the Wagner Group incident, where the paramilitary organization caused unrest by taking control of […]
After a period of resurgence in May, the inflow of foreign investment in Brazil's production sector experienced a decrease in June. The balance of Foreign Direct Investment in the Country (FDI), which accounts for both incoming and outgoing investment, was recorded at US$1.9 billion. This marks the lowest level of investment since December 2021, when […]
Former President of Brazil, a close ally to Lula da Silva, and current chair of the New Development Bank (NDB), also called BRICS Bank, Dilma Rousseff, is set to meet with Russian President Vladimir Putin on July 26. The meeting takes place in St. Petersburg, Russia, amid the Russia-Africa summit, as a part of the […]
Credit rating agency Fitch has upgraded Brazil's long-term credit rating from BB- to BB due to better-than-expected fiscal performance and policy reforms. The GDP growth forecast for 2023 has also been revised upwards from 0.7% to 2.3%. This is the first such adjustment since 2018, acknowledging the progress made in addressing economic challenges despite political […]
In June 2023, Brazil's external accounts experienced a deficit of US$843 million, a stark contrast from the surplus of US$ 266 million in the same month the previous year. However, a total of US$1.9 billion in direct investment in the country was reported, counteracting the deficit. The Central Bank unveiled this data on July 26. […]
(Opinion) The Basel-based Bank for International Settlements (BIS) has announced a blueprint for a new monetary system incorporating digital central bank currencies (CBDCs). While the touted benefits include seamless integration of exchange services and more efficient transactions, this plan could be a harbinger of a dystopian future where an unprecedented level of economic control and […]
(Opinion) As Argentina faces an election year, its economic outlook paints a grim picture. According to recent projections, the South American nation stands on the precipice of its sixth recession within a decade. As of Tuesday, July 25, the International Monetary Fund (IMF) has downgraded its economic forecast for Argentina, predicting a 2.5% contraction in […]
Brazil's tourist board Embratur unveiled its latest campaign, 'Brasil com S', at Times Square, an iconic location in New York, yesterday. The campaign will continue to run on the colossal screen through August 6, with further online media exposure. The concept of the campaign revolves around English words that describe Brazil, all beginning with the […]
The Bolivian Defense Minister, Edmundo Novillo Aguilar, held a press conference where he detailed the memorandum of understanding on defense, technology, and security, signed on July 20 with his Iranian counterpart, Brigadier General Mohammad Reza Ashtiani, during a visit to Iran. Aguilar highlighted the discussions on technological cooperation, academia, and efforts against smuggling and drug […]
The Brazilian Ministry of Agriculture has shared recent data, indicating the detection of another occurrence of highly pathogenic avian influenza (H5N1 virus) in the country's wild bird population. This update was announced at 7 pm on the official communication channel. The cumulative count of avian influenza instances currently stands at 68 nationwide - 66 of […]
In a recent meeting at Brazil's National Institute for Space Research (Inpe), the Minister of Science, Technology and Innovation, Luciana Santos, discussed the possibility of collaborating with NASA to create new satellites and aerospace technologies. The proposed joint venture aims to enhance the monitoring of the Amazon rainforest. The meeting, also attended by Inpe's director, […]
Brazilian President Luiz Inacio Lula da Silva has requested Minister of Justice and Public Security, Flavio Dino, to limit civilian access to a majority of the country's shooting clubs. This proposal marks a departure from the previous administration's policies that promoted the proliferation of such facilities. President da Silva expressed a belief that these establishments […]