Latin America

  • 2015-04-20 21:35


    --Difficult to Achieve in Practice But Would Have Benefits
    --Willing to Suffer Market Turbulence as Price For Improving US Economy

    WASHINGTON (MNI) - Bank of Mexico Gov. Agustin Carstens said Monday although he is willing to accept financial market turbulence if that is the price to be paid for a stronger U.S.

  • 2015-04-15 10:32


    --Likely to Retain Investment Grade Rating but Suffer Weak Growth
    --FX Near Fair Value May Make Local Bonds Attractive

    SAO PAULO (MNI) - Brazil is finally producing good news, but it may not be good enough, local analysts say.

    President Dilma Rousseff is sticking by her orthodox Finance Minister Joaquim Levy, who is determined to hit fiscal targets; the central bank, after years in which its autonomy was suspect, is now fighting inflation vigorously; Rousseff's choice of her vice president, Michel Temer, to negotiate with Congress appears likely to increase legislators' cooperation; and Petrobras has said it finally will release an audited earning release next week.

    The fiscal target this year is a primary account surplus of 1.2% of GDP: not enough to put

  • 2015-04-08 12:18


    WASHINGTON (MNI) - China's new infrastructure bank, widely seen as a challenge to U.S. influence in world development and a rival to the World Bank, is actually a positive and inevitable move by China into the realm of multilateralism, World Bank President Jim Yong Kim said Wednesday.

    Interviewed on Bloomberg TV, Kim defended his praise for China's creation of the Asian Infrastructure Investment Bank - which in a relatively short time has signed up dozens of countries.

  • 2015-03-26 15:21


    --Lower Oil, Stronger USD, Moderating Growth May Lead To Further Challenges

    WASHINGTON (MNI) - The Financial Stability Board Thursday cautioned financial market participants against being lulled into a false sense of security just because recent market adjustments have occurred without any significant financial stress.

    "The risk of a sharp and disorderly reversal remains, given compressed credit and liquidity risk premia," the body charged with monitoring the G20 countries for signs of emerging financial stability risks warned in a statement.

    The remarks were made in a statement released following the group's meeting in Frankfurt.

  • 2015-03-10 15:45


    --Fiscal Target Remains Achievable With Line Item Veto
    --Impeachment of President Rousseff Unlikely

    SAO PAULO (MNI) - Brazil's markets, in a downdraft for months, have accelerated their fall. The real is down over 8% against the dollar since the start of March, capping a fall of over 35% since the start of September.

    Brazil's fundamentals have weakened. The latest consensus forecast, as measured by the central bank's "Focus" survey of local financial institutions, is that inflation will be 7.8% this year, GDP will contract 0.7%, and the current account deficit will hit $80 billion.

    But political risk also has started to frighten traders.

  • 2015-02-10 16:33


    ISTANBUL (MNI) - The following is the third section of the G-20 Communique Issued at the conclusion of the two-day meeting:

    Continued:

    10. We have made significant progress in completing financial reform agenda and are committed to finalizing the remaining core elements this year. Critical steps remain to be taken especially in addressing the too-big-to-fail problem, notably finalizing the proposed common international standard on total-loss-absorbing-capacity for global systemically important banks by the Antalya Summit after the completion of rigorous quantitative impact assessment, including consequences on banks in emerging markets.

  • 2015-02-10 16:17


    --'Disappointed' U.S. Has Not Approved IMF Quota Reform

    ISTANBUL (MNI) - The following is the second sectiosn of the G-20 Communique Issued at the conclusion of the two-day meeting:

    Continued:

    7. In Brisbane, our Leaders announced comprehensive growth strategies to deliver on our Sydney growth ambition and help overcome the challenges we face towards achieving strong, sustainable and balanced growth. Our growth strategies include a substantial number of macroeconomic and structural reform commitments aiming to increase investment, lift employment and participation, enhance trade and promote competition, which are critical to enhancing the growth potential. We will review our strategies to ensure they remain appropriate in light of changing circumstances.

  • 2015-02-10 16:10


    ISTANBUL (MNI) - The following is the G-20 Communique Issued at the conclusion of the two-day meeting:

    1. We welcome the favorable outlook for growth and employment in some key economies. However, growth in the global economy remains uneven and although the recovery is in progress, it is slow, especially in some advanced economies, notably the euro area and Japan. Some emerging market economies are slowing down with significant variations across countries and regions, while the growth outlook for low - income developing countries continues to be strong, albeit with some moderation recently. In some countries, potential growth has declined, demand continues to be weak , the outlook for jobs is still bleak, and income inequality is rising.

  • 2015-01-26 10:00


    --Syriza Coalition Partner Center-Right
    --US Economists Sanguine About 3-Month Outlook

    WASHINGTON (MNI) - The following are top events and news reported Monday morning ET by MNI in the global financial system:

    * Eurogroup President Jeroen Dijsselbloem said Monday that Greece must first conclude pending negotiations with its international creditors before seeking negotiations to restructure its debt.

  • 2015-01-23 14:42


    --US Existing Homes December Sales Rebound 2.4%

    WASHINGTON (MNI) - The following are top events and news reported Friday afternoon ET by MNI in the global financial system:

    * Greece's main opposition party, radical left Syriza maintains its lead against conservative New Democracy in the last opinion polls published Friday ahead of Sunday's crucial national elections. According to a poll broadcast by Mega TV, Syriza gets 32.5% of the votes and New Democracy 26.5%, The River (To Potami) gets 5.8%, the fascist party Golden Dawn gets 5% of the votes, Communist KKE also 5%, socialist Pasok 4.4%, center right Independent Greeks 3.4%, while Social Democrats Movement a party recently formed by former Prime Minister George Papandreou gets 3%. Undecided stood at 9%.