In order to ensure food self-sufficiency, Venezuela will implement a plan to increase soybean planting by 30,000 hectares.
This was announced by the president of the South American nation, Nicolás Maduro, who stated that the states of Portuguesa, Guárico, Cojedes, and Yaracuy are strategic in this…
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The US dollar is the official currency in Ecuador
At the end of last week, Ecuadorian President Daniel Noboa announced Executive Decree 565, which officially establishes the US dollar as the official currency.
Noboa ratified the measure through the presidential digital portal during an…
The bolívar has devalued 30 % so far this year
The legal currency in Venezuela, the bolívar, has lost 30 % of its value so far this year, according to estimates by the independent Venezuelan Finance Observatory (OVF).
According to the independent organization, "for every 1 % the…
Bolivia to allow the use of cryptocurrencies for fuel purchases
The Bolivian government issued a decree authorizing the state-owned energy company YPFB to use cryptocurrencies to pay for energy imports, particularly gasoline and diesel.
The South American country is currently experiencing an internal…
OECD forecasts Costa Rica’s GDP growth at 3.8 %
The Organization for Economic Cooperation and Development (OECD) forecasts Costa Rica's Gross Domestic Product growth of 3.8% this year.
The international organization presented the data last Tuesday through the OECD Economic Surveys:…
Japan and the United Kingdom will create a partnership for free and open international trade
The governments of Japan and the United Kingdom decided on Friday, March 7, to begin the process of creating an economic partnership that allows free and open international trade.
This decision arises from concern about Donald Trump's…
South Korea cuts interest rates to 2.75 %
Last week, the Bank of South Korea announced a cut in the country's growth forecasts, as well as a reduction in interest rates to 2.7 % with the intention of boosting the economy in the face of US taxes and dealing with political…
Brazil accepts invitation to join OPEC+
Brazilian Energy Minister Alexandre Silveira indicated that the South American nation will soon join OPEC+, after accepting the invitation made by the members of the Organization of the Petroleum Exporting Countries (OPEC) in 2023.
Brazil…
Ukraine plans to approve the legalization of Bitcoin this year
Amid the war in Ukraine, the country is heading towards the early legalization of Bitcoin, according to the chairman of the Committee on Finance, Taxes and Customs Policy of Ukraine, Danylo Hetmantsev.
Ukraine would be one of the first…
Venezuela’s inflation in January was 7.9 %
Data from the Venezuelan Finance Observatory on inflation for the month of January indicate that it closed at 7.9 %. The entity highlights that it was 6.9 points below last December, when it closed at 14.8 %.
The OVF indicated in a press…
Chile lowers economic growth projection for 2025
Chile lowered its economic growth projection for this year to 2.5 % and expects an increase in inflation, according to data from the Public Finance Report for the fourth quarter of 2024.
According to the Budget Directorate, “the current…
Colombia, Peru and Brazil agreed to increase minimum wage
The economy in Latin America is still struggling to stabilize. Amid discussions and working groups, the labor force has achieved some achievements that are reflected in salary increases starting in 2025, as is the case in Peru, Brazil and…