News of bank of america

Todesca Bocco, Argentina's candidate for IDB chief, calls for its ‘transformation’

17-11-2022 16:17 Cecilia Todesca Bocco, Argentina's Secretary for International Economic Relations and candidate for the presidency of the Inter-American Development Bank (IDB), outlines her vision for the institution.

Inter-American Development Bank

Argentina nominates Cecilia Todesca Bocco for IDB chair

14-11-2022 14:09 Argentina’s government proposes International Economic Relations Secretary Cecilia Todesca Bocco as its pick for the next head of the Inter-American Development Bank (IDB/BID).

Inter-American Development Bank

Latin America bank to consider five candidates for chief

13-11-2022 12:13 There are five candidates in race to become new chief for the Inter-American Development Bank, a key financial institution for the region.

NEW FUNDING

IDB signs off on US$700 million loan for Argentina

12-10-2022 17:01 Inter-American Development Bank announces US$700-million loan to Argentina to "strengthen the country's public finances" and "protect social spending."

Inter-American Development Bank

IDB board recommends removing Trump-picked chief Claver-Carone

22-09-2022 23:39 Executive directors of the Inter-American Development Bank unanimously recommend ousting chief Mauricio Claver-Carone after a probe into an alleged romantic relationship with a top aide found he probably violated ethics rules.

BLOOMBERG – INTERVIEW

Stephen Kaplan: China faces ‘creditor trap’ in lending to Latin America

07-03-2022 08:00 China will be more cautious about extending loans to Latin American countries after difficulties securing repayment suggest it has sometimes fallen into a “creditor trap,” according to economist Stephen Kaplan.

PRICE RISES IN AMERICAS

Brazil posts highest January inflation rate since 2016

09-02-2022 16:50 Brazil's inflation rate slowed in January, but still came in at the highest level for the month since 2016, the government said Wednesday.

INFLATION ON RISE

Chile's Central Bank hikes rates again as inflation hits 14-year high

27-01-2022 08:06 Chile's Central Bank announces a third successive hike in its benchmark interest rate in a bid to contain inflation, which is at a 14-year high.

BRAZILIAN ECONOMY

Brazilian families slammed by debt, inflation

06-01-2022 12:04 Even though 2021 had been anticipated as the year of economic recovery in Brazil, high inflation and the complications derived from the pandemic, are forcing Brazilians to get more and more into debt, despite the rising interest rates.

CRYPTOCURRENCIES

Argentina begins taxing cryptocurrency, reversing old stance

17-11-2021 15:17 Transactions involving cryptocurrencies will be subject to government's tax on bank credit and debts, effective immediately.

CRISIS IN VENEZUELA

A million bolivars become one as Venezuela recalibrates battered currency

30-09-2021 22:30 For the third time in 13 years, Venezuela on Friday will slash zeroes off its inflation-battered currency, the bolivar. This time, it will shed six zeroes, for a total of 14 since 2008.

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 – ANALYSIS

The problem with Latin America’s rate hikes: they barely work

09-09-2021 14:25 From Brazil to Mexico, banks tighten faster than global peers; Unstable politics and off-the-books economies limit the impact

CRIME & SECURITY

Brazil bank robbers strap hostages to cars during deadly raid

31-08-2021 14:32 Heavily armed gangsters strapped hostages to their getaway cars after robbing two banks in Brazil, in a rampage that left three people dead, police and reports said Monday.

BLOOMBERG

Cuba lays groundwork to legalise cryptocurrency transactions

30-08-2021 10:43 Communist government is trying to legalise and regulate the growing use of cryptocurrencies on the island as citizens ramp up transactions to evade state controls.

BLOOMBERG

Paraguay seeks to wind down stimulus as economy bounces back

27-08-2021 12:27 Paraguay will continue to dial back pandemic stimulus next year as a fast growing economy cushions austerity measures that have proved unpopular in other South American countries.

FINTECH

Argentina’s Brubank plans push into Colombia, Peru in 2022

12-08-2021 15:12 Argentine digital bank is looking to expand to Colombia and Peru in 2022 after raising more financing at the end of this year.

CAF Development Bank

Colombian to lead regional development bank after divisions

06-07-2021 10:04 Colombia’s Sergio Díaz Granados defeats Argentina’s Christian Asinelli to become the next head of CAF Development Bank of Latin America, after a heated selection process that laid bare the region’s deep ideological divide.

Cryptocurrencies

A crypto-revolution in Argentina

12-06-2021 00:17 Argentina’s economy is prime breeding ground for the crypto-world. And the populist promise of cheap energy here is a crypto-miner’s dream.

by Agustino Fontevecchia

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.

RATE RISE

Brazil hikes interest rate, eyeing inflation

18-03-2021 11:39 First rate hike in six years for Latin America's biggest economy. Central Bank indicates another hike of the same magnitude could be coming in May.