Latin America economic news summary

28 September 2018 14:53 Source:ICIS

HOUSTON (ICIS)--Here are the economic news stories on the Latin America region on 28 September:

The International Monetary Fund (IMF) has agreed to make more money available to Argentina under a credit line after the economy shrank by 4.2% in the second quarter.

Argentina plans to raise export taxes on grains and soy-derived products in a bid to balance its budget next year, as President Mauricio Macri seeks a deal with the International Monetary Fund (IMF) to accelerate a $50bn loan programme.

Brazil's August producer price index rose by 0.83% month on month and by 16.51% year on year, the state statistical agency (IBGE) said.

The Central Bank of Brazil unanimously voted to maintain the key Selic interest rate at 6.50%, it said.

Brazil's second-quarter GDP grew by 1.0% year on year and 0.2% quarter on quarter, IBGE said.

Brazilian industrial production rose by 4.0% year on year in July, but fell by 0.2% from June, the state statistical agency (IBGE) said on 4 September.

Mexican industrial output in July rose by 1.2% year on year and by 0.2% month on month, the state statistical agency (INEGI) said.

Mexico's producer price index (PPI) decreased by 0.07% in August month on month, the state statistical agency INEGI said on 7 September.

By Staff Reporter