The World Bank sent a bleak message about the global economy, reducing its growth forecasts to 2.9% in 2019 and 2.8% in 2020, amid the attenuation of international trade and growing financial pressures on emerging markets. In Latin America, the recovery is losing steam, weighed down by the contraction in Argentina and the persistent uncertainty in the two largest economies in the region: Brazil and Mexico.
The Confederation of Private Employers of Bolivia (CEPB) reported on Tuesday that it presented to the Plurinational Constitutional Court, an action unconstitutionality against the content of 7 articles and two transitory provisions of Law 1055 – of Social Enterprises, with the request that the rule is suspended.
Brazil’s Minister of Infrastructure, Tarcísio de Freitas, reported yesterday that President Jair Bolsonaro will privatize or liquidate at least 150 companies belonging to the State. De Freitas pointed out that these are companies that, according to their criteria, are not important within the Brazilian economy and will be phased out by 2022.
The Government will inject $ 106 million this year to the agroindustry in Santa Cruz for the purchase of 150 million liters of anhydrous alcohol for the production of the Super Ethanol 92 biofuel, following the signing of the contract between YPFB and the sugar mills Guabirá, Unagro, La Bélgica and Aguaí.
El Niño plays the country with more doors and unpredictable rains that have left 2,200 families affected in only nine days and 975 victims in four municipalities, reported on Wednesday the Deputy Minister of Civil Defense, Carlos Bru.
US private sector firms could invest up to US$20 billion per annum in oil, gas, fracking, as well as renewables and electricity. Argentina is aiming to attract up to US$140 billion of investment by 2030 from the US. In addition, France will also be investing in the energy sector over the next couple of years.
Luis Sanchez, the “hydrocarbon minister” said that oil & gas revenues will increase to US$ 2 billion in 2018 from US$1.8 billion in 2018. He added that Bolivia has 10.7 trillions cubic feet of proven reserves, according to Sproule International Limited a Canadian firm.
On Sunday, Jaime Duran, the viceminister in charge of Budget, said that the 15% of the second bonus which is to be spent on national products will amount to ca. US$ 140 million.
Bolsonaro’s team announced that Nicolas Maduro, of Venezuela had not been invited to Bolsonaro’s investiture. It is said that Bolsonaro had always defended the peaceful way and had ruled out supporting a military intervention to solve the crisis the crisis in Venezuela, although he has described the Government of Maduro as a “dictatorship”.
The Fund for the Promotion of Investment in Exploration and Hydrocarbon Exploitation (FPIEEH) was left without economic resources as a result of a supreme decree that ordered the transfer of its resources to a different account. This fund was created in 2015 by Law 767 of Promotion for […]