Brazil scrapes out of recession on government spending

BRASILIA (Reuters) - Brazil's economy crawled out of a recession in the third quarter as public spending rose before presidential elections, suggesting growth could be short-lived as the government plans to tighten its budget.

Mexico cuts 2014 growth forecast after surprisingly weak third quarter

MEXICO CITY (Reuters) - Mexico's finance ministry cut its 2014 growth forecast on Friday after the economy grew unexpectedly slowly in the third quarter in a modest recovery that is now also threatened by rising social unrest.

Chile Unemployment Falls as Government Forecasts Recovery

Chilean unemployment unexpectedly fell in the three months through October, the first month of a quarter that Finance Minister Alberto Arenas forecasts will see a “small and moderate reactivation” in the economy.

Brazil’s Real Leads World Advances on Levy Appointment Optimism

Brazil’s real led gains among global major currencies on speculation that President Dilma Rousseff will appoint a finance minister capable of restoring growth to Latin America’s largest economy.

Venezuelans Dollarize Christmas Bonuses as Bolivar Dives

The bolivar has declined the most in 10 months as Venezuelans use their Christmas bonuses to buy U.S. dollars amid the world’s fastest inflation and shortages of basic goods.

Brazil to announce budget cuts with new economic team: Folha

(Reuters) - Brazilian President Dilma Rousseff's new, still unconfirmed economic team is preparing budget cuts for 2015 that will be announced next week, newspaper Folha de S. Paulo reported on Sunday. The paper did not give an amount for the proposed cuts.

Mexico cuts 2014 growth forecast after surprisingly weak third quarter

(Reuters) - Mexico's finance ministry cut its 2014 growth forecast on Friday after the economy grew unexpectedly slowly in the third quarter in a modest recovery that is now also threatened by rising social unrest.

Brazilian Real Leads Global Gains on Outlook for Economic Team

Brazil’s real extended its weekly rally to the biggest since January 2012 on speculation that President Dilma Rousseff is close to nominating a team capable of reviving Latin America’s largest economy.

Peru to Cut Income and Profit Taxes in $3.9 Billion Stimulus

Peru’s government plans to cut taxes for companies and workers and increase spending to offset a slump in investment hurting the $202 billion economy.

Venezuela increases luxury taxes to bolster state coffers

(Reuters) - Venezuela will increase taxes on luxury goods, alcohol and tobacco to help shore up the government's finances, the top tax official said, as falling oil prices threaten the OPEC member's coffers.

Mexico retail association expects to miss 2014 sales-growth target

MEXICO CITY, Nov 18 (Reuters) - Mexico's retail association ANTAD will miss its 2014 sales target as the economy sputters, the president of the group said on Tuesday.

Venezuela’s Bond Plummet Can’t Sway BofA as Losses Mount

Being bullish on Venezuela’s bonds hasn’t quite panned out for Bank of America Corp. and Barclays Plc. Still, neither are prepared to give up their calls.

Petrobras Quarterly Output Jumps 9% on New Platforms

Brazil’s state-run oil company Petroleo Brasileiro SA (PETR4) said production increased 9 percent in the third quarter as output rose at new platforms, according to a statement in O Globo newspaper.

Argentina welcomes G20 call for work on debt restructurings

(Reuters) - Argentina, which defaulted on its debt again in July amidst a decade-long legal battle with a group of U.S. investment funds, welcomed on Sunday the inclusion of a clause in a G20 summit communique aimed at helping sovereign debt restructurings.

Brazil sheds jobs in October as economy feels recession's pinch

BRASILIA, Nov 14 (Reuters) - Brazilian companies shed jobs in October for the first time in at least 15 years, revealing the delicate state of the economy ahead of potential tax hikes and government austerity.

Venezuela Dollar Income Falls 30% on Lower Oil Prices

Venezuela lost 30 percent of its foreign exchange revenue in the last month because of a “tremendous” drop in oil prices, President Nicolas Maduro said.

IMF sees risks in Mexico reform implementation

MEXICO CITY (Reuters) - Rising U.S. interest rates and hurdles to smooth implementation of economic reforms pose risks to Mexican growth, the International Monetary Fund said on Wednesday.

Brazil's Rousseff asks Congress for flexible fiscal goal for 2014

(Reuters) - Brazilian President Dilma Rousseff on Tuesday asked Congress to allow the government to deduct all of its investments and tax exemptions from a key 2014 fiscal target, effectively lowering a goal that it will miss for the third straight year.

Mexico industrial output unexpectedly slips in Sept

(Reuters) - Mexican industrial production unexpectedly fell in September, dragged down by falling oil output and a dip in construction activity while factories recovered from a slump in the prior month.

Brazil economic growth seen lower this year and next: Reuters poll

(Reuters) - Brazilian economists lowered their expectations for the country's economic growth rate for this year and next, according to a weekly central bank poll released Monday.

Colombia central bank sees growth of 4.3 percent in 2015, 5 percent this year

(Reuters) - Economic growth in Colombia will probably slow to around 4.3 percent in 2015 from 5 percent this year, hurt by lower oil prices and a drop in exports due to a sluggish global economy, central bank chief Jose Dario Uribe said on Friday.

Argentina Selling Up to $1 Billion in Local Bonds as Peso Slips

Argentina is planning to sell as much as $1 billion of dollar-linked bonds next week after issuing similar notes less than a month ago.

Peru eyes tax reforms to spur growth: finance minister

(Reuters) - The government of Peruvian President Ollanta Humala is evaluating tax reforms to stimulate anemic economic growth and has not ruled out trimming the corporate tax rate from 30 percent, the finance minister said on Thursday.

Mexico's finmin sees recovery, discards impact from unrest

(Reuters) - Mexico's finance minister said Latin America's No. 2 economy is recovering after a weak start to the year and recent social unrest triggered by the disappearance of 43 students had yet to hit growth.

Brazil Real Drops to One-Week Low as Rousseff Mulls Appointments

Brazil’s real fell to a one-week low amid concern that President Dilma Rousseff’s economic team will struggle to revive growth during her second term.

Argentina sees 'better possibility' of holdout debt deal in 2015

(Reuters) - Chances of a deal to end Argentina's feud with holdout bond investors will improve in January when current restructuring rules expire, the economy minister said in comments published on Monday, raising some hopes for the country's stagnant economy.

Chile cenbank sees economy recovering after third quarter

Chile's economic growth likely hit bottom in the third quarter and should pick up pace moderately and gradually during the final three months of 2014, central bank President Rodrigo Vergara said on Thursday.

Election-year water crisis taking a toll on Brazil's economy

(Reuters) - After a grueling election campaign in which officials faced fierce criticism for downplaying the effects of a year-long drought, Brazil's most populous state is finally coming to terms with an uncomfortable reality: it is running out of water.

Argentina default spreads to Par bonds, risking payment demands

(Reuters) - Argentina's debt default spread to its Par bonds on Friday after the country failed to complete an interest payment, raising the risk that creditors could demand that the country's cash-strapped government immediately repay all of its debt.

Here’s Only Economist Who Thinks Mexico Will Lower Rates

Marco Oviedo, Barclays Plc’s 39-year-old chief economist for Mexico, is a little taken aback that he’s the only analyst predicting the country will reduce interest rates this week.