By Walter Bianchi BUENOS AIRES (Reuters) – Argentina is in talks to renew and potentially expand its currency swap line with China, a central bank source said on Wednesday, as the South American country battles tumbling foreign reserves that threaten its ability to meet payments. The country has free access to some $5 billion as…
MEXICO CITY (Reuters) -Mexican President Andres Manuel Lopez Obrador said Wednesday his government aims to reach an agreement with mining and transport company Grupo Mexico after taking over a part of its railway last week, but said the compensation deal will not include cash. “Not money. What we are looking at is compensation. That is…
MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador said on Wednesday he does not rule out the possibility of the government stepping in to buy a part of U.S. bank Citigroup’s local retail unit, adding the government would have up to $3 million at its disposal. Citigroup announced earlier on Wednesday it will…
SANTIAGO (Reuters) – The board of Chile’s central bank on Tuesday activated a counter-cyclical capital buffer, setting the measure at 0.5% of risk-weighted assets for one year. The measure, which requires Chilean banks to set aside a cushion to absorb any potential losses, is meant to boost the economy’s resilience in the face of severe…
BRASILIA (Reuters) -Brazil’s Finance Minister Fernando Haddad on Tuesday said that the government’s new fiscal rules and a tax reform should calm investors and the central bank and that there is consensus on the urgency of approving both. After a closed-door meeting with government officials, top lawmakers and business leaders, Haddad told reporters he expects…
MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador’s administration is studying the possibility of buying a majority of shares in Citigroup’s local retail unit known as Banamex, according to a government statement published on Tuesday. Buying it would be “good business,” Lopez Obrador said in a press conference earlier, when asked about rumors…
BRASILIA (Reuters) – Brazil’s finance ministry on Tuesday lifted its 2024 inflation forecast to 3.63%, from 3.52%, and kept its estimate for growth in Latin America’s largest economy unchanged at 2.3%. The country’s central bank has maintained its key interest rate at a six-year high of 13.75% at recent meetings to prevent a possible resurgence…
By Lucila Sigal BUENOS AIRES (Reuters) – Australian-based lithium miner Allkem Ltd, set for a $10.6 billion merger with U.S.-based Livent Corp, sees “enormous” opportunity in Argentina, a top executive said on Tuesday. Speaking at a mining event in Buenos Aires, Chief Sustainability and External Affairs Officer Karen Vizental said Argentina’s strong pipeline of lithium…
MEXICO CITY (Reuters) – Mexico’s headline inflation likely slowed in the first half of May to its lowest level in 19 months, a Reuters poll on Tuesday showed, backing views of a sustained decline in consumer prices and that the central bank will keep its benchmark rate on hold. The median forecast of 13 analysts…
By Andrew Mills and Tim Hepher (Reuters) – Boeing Chief Executive Dave Calhoun on Tuesday said it could take until the end of 2024 to iron out sector-wide supply chain problems that have hampered global jetliner production. “Priority one for the two airplane manufacturers is stability,” Calhoun told the Qatar Economic Forum, referring to Boeing…
