A round-up of public finance news stories from Latin America and the Caribbean you might have missed this week (August 5-9).
Argentina central bank turned into state-financing tool: recession and higher inflation forecasted
Argentina is forecasted to fall into recession next year on the back of super-loose money policy with inflation reaching 24% this year and 30% in 2014 as the government continues to appeal to Central bank resources to meet budget commitments, according to London based Capital Economics. (Merco Press South Atlantic News Agency)
Colombia earmarks $1.15bn to dredge country's principal river
Colombian President Juan Manuel Santos on Wednesday signed a $1.2 billion budget for the improving the Magdalena river that connects the south of the country with the Caribbean coast in the north. The river is the country’s main waterway for the transport of cargo and passengers, and will benefit from investment in transport development, logistical development and environmental sustainability. (Colombia Reports)
Brazil investment in science, via the ministerial budget reaches ‘an all time high'
Brazil's investment in science has reached an all-time high, with the science ministry's budget increasing from 8.6 billion Real (about 3.8 billion dollars) in 2012 to 12.7 billion Real (around 5.6bn) this year, according to science minister Marco Antonio Raupp. (Merco Press South Atlantic News Agency)
Push for border control worries Haitian vendors
In swirling dust and sweltering sun, hordes of Haitian merchants impatient for the official opening squeezed through the battered border gate and swarmed to the myriad rickety stalls and shipping containers where Dominican wholesalers bartered off crates of juice, pasta, cooking oil and other goods. (AP, via West Virginia State Journal)
Paraguay advancing on trade agreement with Mexico
Paraguay and Mexico have made significant advances in reaching a trade agreement in the framework of the Latinamerican Integration Association, ALADI, according to Paraguayan diplomatic sources. (Merco Press South Atlantic News Agency)
Fitch assigns rating to new Bermuda government bonds
Government’s new global bond was given a AA- rating by Fitch. The $750m bonds mature in 2024 and will go toward repaying public debt and fund current and future budget deficits. (Bermuda Sun)
