The Japanese government has decided to expand its loans to Latin America by boosting co-financing with the Inter-American Development Bank
Venezuela's government said that it would move to a floating exchange rate for non-essential imports and allow the state owned oil company PDVSA to sell dollars into the new market
A deal with holdout bondholders is expensive, but worth it. Argentina’s payment of $4.65 billion will be 25% less than they were demanding. Even so, it is a big pay-off for investors who bought the debt at a fraction of its face value.
Citibank is planning to sell the consumer banking operations it has run for a century in Argentina, Brazil and Colombia as South America’s three biggest economies suffer a major downturn.
Finance Minister Alfonso Prat-Gay said that the agreement reached with Italian bondholders includes the Argentine government’s acknowledgement of the debt “and reasonable interest”
Ecuador's Finance Ministry announced that the country has signed a $970 million credit facility with the Industrial and Commercial Bank of China (ICBC).