Latin American currencies rebound on German confidence

(Reuters) - Latin American currencies strengthened on Tuesday, led by Brazil's real and Mexico's peso, after stronger-than-expected economic confidence data in Germany, the world's fourth-largest economy.

The data lifted oil, copper, coffee and other commodities, the backbone of many Latin American economies, following yesterday's declines. That gave further support to the region's currencies.

Venezuela’s Recovery From Latin America’s Longest Slump Gaining Momentum

Venezuela’s gross domestic product expanded at the quickest pace in almost three years in the first quarter as government spending backed by higher oil prices helped the economy emerge from Latin America’s longest recession faster than expected.

The country’s GDP rose 4.5 percent in the first three months of the year from the same period in 2010, the central bank said today in an e-mailed statement. Growth was more than twice as fast as the 1.7 percent median estimate of eight economists surveyed by Bloomberg.

Microsoft Latin American Sales Grew As Fast As 36%, Rincon Says

Microsoft Corp. (MSFT)´s revenue in Latin America is growing as fast as 36 percent as rising incomes and lower computer prices bolster demand, said Hernan Rincon, the company´s president for the region.

Microsoft’s sales surpassed the growth of the area’s information technology industry, which is expanding at 12 percent, he said.

Citigroup steps up hiring in Brazil

Citigroup has stepped up hiring in Brazil, joining a growing war for talent among foreign banks seeking greater market share in Latin America’s largest economy.

Citi has hired 380 people in April in the country on top of 400 it hired in the first quarter and 500 last year across all business areas, executives said on Wednesday during a visit by Vikram Pandit, Citi chief executive.

Latin America’s trading bootstraps

From independence, Latin American countries’ dream of a more united continent was on the horizon – where it remained stuck for two centuries. Today, deepening trade ties are finally advancing the integration so long frustrated by the politics of national narcissism.

It is hard to think of a region that has more to gain from deeper interregional economic ties. Latin America’s cultural and linguistic affinities should make it a natural single market – with a scale large enough to compensate for the cost of overcoming the continent’s big natural barriers. But this ambition long fell foul of inward-looking and misguided governments.

Peru cenbank wary of braking on icy road

(Reuters) - High commodities prices could hobble the global economy and uncertain times require extra caution when it comes to setting monetary policy, Peru's central bank chief said on Friday.

Julio Velarde, who spoke during the Reuters Latin American Investment Summit, said he was not surprised that Peruvian inflation in March sped up to 0.7 percent, the highest monthly level in nearly three years. Economists had forecast a rise on Friday of barely 0.5 percent.

Brazil's February Industrial Output Rises 1.9% Vs Jan - IBGE

RIO DE JANEIRO (Dow Jones)--Brazil's industrial output gathered pace in February, beating analysts' estimates as production of food and vehicles as steamed ahead in Latin America's largest economy.

Output at Brazil's factories increased a seasonally adjusted 1.9% from January and picked up 6.9% compared with February 2010, the Brazilian Census Bureau, or IBGE, said Friday. February was the second consecutive month of rising output, after January's increase of 0.2%, which followed a slackening in output in late 2010 when some industrial sectors wrestled with high import levels.

Mexico's economy and risks

(Reuters) - Mexico's economy is the world's 11th largest by World Bank estimates and total output is expected to grow by roughly 4 percent this year after a 5.5 percent expansion in 2010.

Mexico's growth has lagged most Latin American economies over the last decade, posting weak economic growth as the country's politicians put off major reforms to tax, energy and labor laws.

Nick Clegg to lead UK charm offensive in Latin America

Uncertainty over upheaval in Middle East prompts deputy prime minister to head delegation of businesses and universities

Nick Clegg is to push for stronger ties with Latin America as officials said events in the Middle East have made the region an unpredictable partner for the UK.

The deputy prime minister will lead a delegation of British businessmen and the vice-chancellors of six universities to Mexico as he seeks to win international business for the UK's university sector.

Latin America Economic Growth to Slow in 2011 on Inflation, IIF Says

Economic growth in Latin America will fall to 4.5 percent this year from 6.1 percent in 2010 as inflation and rising interest rates curb expansion, the Institute of International Finance said.

Latin America’s growth will be about 4.6 percent in 2012, the Washington-based banking group said in its regional overview, released today during the Inter-American Development Bank annual meeting in Calgary.

Argentina February data shows economy flourishing

(Reuters) - Argentina's February trade surplus beat market expectations and industrial output rose sharply again, the government said on Wednesday, showing Latin America's No. 3 economy is still growing strong.

Argentina's economy expanded at a quick 9.2 percent last year, driven by robust consumer spending, lucrative grains exports and industrial production.

Obama Says Latin America Visit Will Help to Boost U.S. Economic Recovery

President Barack Obama said a main objective of his trip to Latin America will be to forge even stronger economic partnerships in the region in order to create jobs in the U.S.

Obama began his weekly address on the radio and Internet by reaffirming his earlier statements that the U.S. will work with international partners to protect Libyan civilians and “hold the Qaddafi regime accountable.” He also repeated his pledge to “stand with the people of Japan in their greatest hour of need” as they recover from the aftereffects of the March 11 earthquake and tsunami.

Colombia's economy, growth and challenges

Standard & Poor's rating agency on Wednesday raised Colombia to investment grade, citing the economy's growing resilience to external shocks and its favorable growth prospects.

The decision will attract new investors to Colombia, lower government borrowing costs, spur investment and support economic expansion in the country, Latin America's No. 4 oil producer.

Latin America fights to rein in prices, currencies

(Reuters) - Brazil's central bank signaled on Thursday it would rely less on higher interest rates while Chile tried to brake its strong currency, underlining the dilemma Latin America's policymakers face between fighting inflation and preserving competitiveness.


Latin American economies and emerging markets throughout the world are struggling to rein in currency rallies resulting from their robust growth rates and strong inflows, while trying to keep inflation from eating into economic gains.

Mexico annual inflation hits lowest in 14 months

MEXICO CITY, March 9 (Reuters) - Mexico's annual inflation rate cooled in February to its lowest in 14 months despite some sharp increases in food prices, keeping pressure off the central bank to raise interest rates soon.

Consumer prices rose 3.57 percent in the year through February, in line with expectations and slowing from a 3.78 percent rate in January, central bank data showed on Wednesday.

Brazil Fin Min: Higher Rates Will Not Impede Economic Growth

RIO DE JANEIRO (Dow Jones)--Higher interest rates in Brazil won't impede economic growth in Latin America's largest economy, Finance Minister Guido Mantega said Thursday.

"The restrictive monetary measures being undertaken in 2011 already started in 2010," Mantega said during a conference call with foreign journalists. "They are not going to impede economic growth but moderate the pace of growth to ensure that domestic demand is not as strong."

Brazil's tax revenue hits record high for January

BRASILIA, Feb 23 (Reuters) - Brazil posted record tax collection for January on the back of healthy industrial production and retail sales, the federal tax authority said on Wednesday.

Tax revenue in January, adjusted for inflation, jumped to 91.1 billion reais ($54.3 billion) an increase of 15.3 percent from a year earlier. Tax revenue in December totaled 90.9 billion reais.

Venezuela: stuttering back to growth

It is hard not to shed a tear for Venezuela. Latin America’s largest oil producer on Tuesday confirmed that it had pulled off the remarkable feat of contracting 1.4 per cent during a year in which oil prices rallied.

That was the second consecutive year of negative growth for Venezuela – in 2009, the country led by socialist President Hugo Chávez shrank 3.3 per cent – and it comes as the rest of Latin America is rebounding strongly from the global recession of two years ago.

Mexico's Economy Expands at Fastest Pace in a Decade as Growth Hits 5.5%

Mexico’s gross domestic product expanded last year at the fastest pace in a decade as Latin America’s second-biggest economy recovered from a 2009 recession provoked by the global financial crisis.

GDP, the broadest measure of a country’s output of goods and services, grew 5.5 percent last year, the most since 2000, the national statistics agency said on its website. GDP expanded 4.6 percent in the fourth quarter from a year earlier. The economy was forecast to grow 4.4 percent in the final quarter, according to a survey of 13 analysts by Bloomberg.

Latin Day Ahead: MMX to Revive Loan Market With Project Finance

Plans by Brazilian billionaire Eike Batista to borrow as much as $1.5 billion from banks to develop an iron-ore mining project mark what lenders say could be the return of project finance to Latin America’s largest economy.