Fitch downgrades Argentina to 'CC' from 'B', says default is probable

NEW YORK: The credit rating agency Fitch Ratings on Tuesday downgraded Argentina, which is locked in a court battle in New York over its debt, and said the country would probably default.

UN: Latin American poverty lowest in 3 decades

SANTIAGO, Chile (AP) — The number of people living in poverty in Latin America and the Caribbean has dropped to its lowest level in three decades due to higher wages, the UN's regional economic body said on Tuesday.

U.S. & Latin America: Partnership of value

Tremendous and largely untapped opportunity exists for greater partnerships among companies and workers — as well as government cooperation — throughout the Americas.

Chavez Choking on Bolivars to Spur Venezuelan Bond Sales

The bolivar’s plunge to a record on the black market is pressuring Venezuelan President Hugo Chavez to end the longest drought of dollar-bond sales in five years.

Peru's SNMPE Sees Record Mining Investments in 2012

LIMA, Peru--Investments in Peru's mining sector are expected to reach a record-high this year despite delays to some large-scale projects, the National Mining, Oil and Energy Society, or SNMPE, said Wednesday.

Argentina rejects US ruling over foreign debt repayment

Argentina will appeal against a US ruling ordering it to pay $1.3bn (£800m) to foreign creditors holding bonds that it defaulted on in 2001.

Venezuela economic growth at 5.2 percent

CARACAS, Venezuela (AP) — Venezuela’s economy grew 5.2 percent in the third quarter as compared to the same period last year, officials said Tuesday, crediting both the private sector and an increase in government spending.

Brazil Inflation Converging to Target in 2013, Tombini Says

Brazil’s central bank President Alexandre Tombini said inflation will converge to the bank’s 4.5 percent target in the third quarter of 2013 even as new data showed the pace slowing less than expected.

Ecuador lawmakers raise bank taxes ahead of election

QUITO (Reuters) - Ecuador lawmakers on Tuesday approved hiking bank taxes to finance cash payments to the poor, a move that could cement President Rafael Correa's chances of winning re-election, but which banks have described as a confiscation.

Argentina's Fernandez faces her first general strike

BUENOS AIRES (Reuters) - Opposition trade unions protesting Argentina's economic policies brought public transportation and grains exports to a halt on Tuesday in the first general strike since President Cristina Fernandez took office five years ago.

Latin America pledges support for Iberia, warns on austerity

CADIZ, Spain (Reuters) - Latin America on Saturday pledged investment opportunities for recession-hit Spanish and Portuguese companies but warned its former colonial masters drastic cost cutting would only deepen their misery.

Argentina still seeking an out from debt showdown

BUENOS AIRES, Argentina (AP) — Argentina refused late Friday to give up its long fight against bond holdouts seeking $1.45 billion for their piece of defaulted debt on which most other bondholders accepted steep discounts years ago as the country climbed out of an economic crisis.

Brazil: As if the government in Brazil were not enough

While the Brazilian central bank has lowered interest rates to an historic low to stimulate economic growth, the government's policies seem to be a weak patchwork of support for favored industries.

Smaller companies key to Latin American growth

CADIZ, Spain (AP) — Small and medium-sized companies in Latin America could play a key role in strengthening and consolidating the region's economic growth, which this year will slow down for the first time in nearly a decade, two international organizations said Friday.

Mexico-U.S. near agreement on bilateral tomato trade pact

MEXICO CITY (Reuters) - Mexico and the United States expect to reach agreement on a new bilateral tomato trade pact by the end of the month, Mexico's economy minister said on Tuesday.

Ecuador's Correa to seek re-election, clear favorite

QUITO (Reuters) - Ecuador's President Rafael Correa launched his re-election bid on Saturday for a February vote likely to give him a new four-year term to continue boosting state control over the Andean nation's economy.

DATA SNAP: Mexico's Annual Inflation Eases From 2-1/2 Year Peak

MEXICO CITY--Mexico's annual inflation eased in October for the first time in five months, fading away from the 2-1/2 year peak recorded the previous month and giving room for the central bank to delay a possible rate increase.

Cuba to try letting workers run state restaurants

HAVANA (AP) — Cuba's government will begin renting state-owned restaurants to workers who want to run them independently, authorities announced Friday in the latest step of President Raul Castro's economic overhaul.

Brazil's Hamilton: Inflation to Move to Target on Nonlinear Path

BRASILIA--Brazil's inflation will move in the direction of a 4.5% annual target set by the government, though in a nonlinear manner, central bank economic department director Carlos Hamilton said Thursday.

Argentina 'freezes Chevron assets' over Ecuador damage

A judge has ordered $19bn (£11.9bn) of assets held by oil company Chevron to be frozen in Argentina over an environmental damages claim in Ecuador, lawyers in the case say.

Exclusive: Cuba opens sugar sector to foreign management

(Reuters) - Brazilian builder Odebrecht SA ODBES.UL will begin administrating a Cuban sugar mill next week in the first sign the industry is ready to accept foreign participation since the 1959 revolution, two company sources said on Wednesday.

Colombia’s Peso Surges as Seized Brokerage’s Trading Taken Over

Colombia’s peso rose the most in four months as the government said Bancolombia SA (BCOLO) will take over bond trading of the country’s biggest brokerage after it was seized by authorities.

Argentina: Where Risks and Opportunities Abound

Corporate CEOs, bankers, public functionaries, renowned economists and financial advisors, many of the most influential people in the Argentinean financial markets met to discuss the country´s perspectives for 2013 last Tuesday in a seminar organized by the specialized publication Bank Magazine.

Selling in Colombia ETF Overdone After Interbolsa Decline

Shares of the Global X FTSE Colombia ETF (NYSE: GXG ), the largest ETF tracking South America's second-largest economy, are on pace for their worst week in multiple months amid concerns about the financial health of Interbolsa SA's brokerage operations.

Argentine Bonds Fall Most in Emerging Markets, Extending Rout

Argentine bonds fell the most in emerging markets today, extending losses sparked by an Oct. 26 U.S. court ruling favoring bondholders of defaulted debt.

Brazil's corn, ethanol exports surge after U.S. drought

(Reuters) - Brazil's trade ministry said the country's exports of corn and ethanol rose in October as foreign buyers turned to Brazil after the worst drought in 50 years ravaged U.S. crops.

Mexico 2013 inflation view steady despite price spike

MEXICO CITY (Reuters) - Analysts raised their forecast for Mexican annual inflation this year for the fifth month in a row, but backed the central bank's view that the advance in consumer prices will slow its pace in 2013, a poll showed on Thursday.

Argentina Will Keep Paying Bondholders - Economy Minister

BUENOS AIRES--Argentina's federal government will continue to pay the bonds it issued to restructure debt the South American nation defaulted on more than a decade ago, Economy Minister Hernan Lorenzino said Wednesday.