Industries and markets

Argentina: Overprices of up to 90% in sales to Venezuela detected

“Inconsistencies were found in binational businesses for overpricing and irregular billing for more than 20,000 million dollars between Venezuela and Argentina. According to a report from the General Syndicature of the Nation (Sigen), which was

Lagarde admits underestimating the Argentine economic situation

“The Argentine economic situation has proved to be incredibly complicated and I dare say that many of those involved, including us, underestimated a bit, when we started with the Argentine authorities building the program”

Brazil’s Lula convicted to keep him from 2018 election: Report

“Brazil’s justice minister and prosecutors collaborated to convict left-wing icon Luiz Inacio Lula da Silva on corruption charges to prevent him from contesting the 2018 election, an investigative news outlet has reported.”

US-Mexico talks: Trump hails deal on migrants to avoid tariffs

“Under the deal, in which Mexico agreed to take “unprecedented steps”, the duties that were due to come into effect on Monday have been suspended.”

Mexico takes another hit as Fitch downgrades Pemex to junk status

“The new rating of BB+, down from BBB-, follows yesterday’s downgrade of Mexico’s sovereign debt from BBB+ to BBB.”

Bolsonaro and Macri announce the EU/Mercosur trade deal is “imminent”

“Mercosur, which groups Brazil, Argentina, Uruguay and Paraguay, has been in negotiations with the EU since 1999 to establish a trade agreement.”

With confidence vote, Peru revives debate over anti-graft reforms

“The president had asked the opposition-controlled Congress for a confidence vote as part of his effort to pressure the legislature into approving a reform package, including measures aimed at cleaning up campaign financing and curbing

Brazil central bank denies plans for a monetary union with Argentina

“As is natural in a relationship between partners, there is dialogue on macroeconomic stability as well as discussions about reducing risk and vulnerability, and the strengthening of our institutions.”

Colombia: New e-Invoicing Rules

On April 29th, 2019, the Colombian tax authority DIAN published its Resolution 000030 which lays out the requirements and technological mechanisms needed for issuing an e-invoice. These are the regulatory requirments:   Means of Identification

Brazil closes five embassies in the Caribbean

“The Brazilian Foreign Minister confirmed the closure of embassies on the islands of Dominica, Antigua and Barbuda, Granada, Saint Kitts and Nevis and Saint Vincent and Grenadine.”