A round-up of public finance news stories from the Latin America & the Caribbean you might have missed this week (August 12-16).

Mexico to open state-run oil industry to private sector ending 75-year constitutional ban

Mexican President Enrique Peña Nieto has proposed lifting a 75-year ban on private companies investing in the state-run oil industry. (Merco Press)

Barbados announces new measures to tackle financial crisis

Barbados Minister of Economy and Finance Christopher Sinckler announced new measures to tackle the financial crisis affecting the Caribbean island, including creating new taxes. (Bernama)

Brazil and Uruguay want a “two speeds” Mercosur agreement with the EU

Brazil and Uruguay want a quick trade agreement with the European Union, but without abandoning the existing Mercosur trade bloc. The countries say they want to advance at ‘a different speed’ to the rest of the group’s members. (Merco Press)

Argentina ratifies economic policy, rejects austerity measures to balance the budget

Argentine economy minister Hernán Lorenzino on Wednesday ratified current policies and ‘strongly’ rejected an increase of budget austerity measures, while defending the existing debt reduction policy. (Merco Press)

Paraguay President Cartes sworn in, declares 'war on poverty'

Horacio Cartes has been sworn in as the new president of Paraguay to succeed former head of state Federico Franco in a ceremony presided over the head of the Congress, Julio César Velázquez. (Buenos Aires Herald)