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Venezuela inflation accelerating, parliament says

Caracas - Crisis-wracked Venezuela's yearly inflation rate rose to over 4,000 percent in July, the opposition-controlled parliament said on Wednesday.

Venezuelan national assembly says 12-month inflation at 3,600% in May

Caracas - Venezuelan inflation over the last 12 months to May was 3,684 percent, the opposition-controlled National Assembly said on Tuesday.In a statement, the legislative body said total inflation in May was 15 percent, compared with 80 percent in April.

Argentine government struggling to reduce poverty and debt

Tigre - With Argentina suffocated by debt, the government has turned to food stamps, price controls and popular markets to alleviate the suffering of its 10 million poor, but there are no guarantees these measures will stem the ravages of recession.

Venezuela's hyperinflation slowing, says parliament

Caracas - Venezuela's rampant hyperinflation slowed down in July, the opposition-controlled parliament said on Thursday, calculating its figure for the last 12 months at just over 250,000 percent.July's inflation was 33.

Planes grounded as thousands in Argentina strike against government

Buenos Aires - Tens of thousands of Argentines demonstrated Tuesday in a partial strike that grounded airplanes and shut banks and other businesses to protest the economic policies of President Mauricio Macri.

Argentina to intervene in exchange rate to curb peso volatility

Buenos Aires - Argentina adopted a new measure Monday aimed at stabilizing its exchange rate, six months out from presidential elections in which economic worries are having an impact on opinion polls.

Argentina's Macri freezes prices of basic goods and public services

Buenos Aires - Argentina's President Mauricio Macri announced a freeze in the price of basic goods and public services on Wednesday in a bid to limit the impact of spiralling inflation that could hamper his re-election hopes in October.

Hunger stabs at Venezuelans impoverished by crisis

Maracaibo - The fish Juan Maurice is catching are so small they're best thrown into a frying pan. Even so, they won't fatten this out-of-work builder who has lost 16 kilograms (35 pounds) over the past two years.

Argentines protest in push for 'food emergency' declaration

Buenos Aires - Thousands took to the streets in 50 Argentine cities and towns Wednesday demanding that the government declare a "food emergency" and put an end to suffocating price increases."We are losing work, food, education, housing...

Argentina presents austere budget for 2019

Buenos Aires - Despite anti-austerity street protests, Argentina's government presented a tight budget on Monday under pressure from the International monetary Fund to achieve fiscal balance.

Venezuela orders banks to adopt cryptocurrency

Caracas - Venezuelan President Nicolas Maduro ordered banks to adopt the petro cryptocurrency as a unit of account Monday, as the country struggles to emerge from a severe political and economic crisis.

Hard-hit Venezuelan churches forced to accept plastic for donations

Caracas - Venezuela's collapsing economy has forced churches and priests to get creative in order to keep their coffers full as four years of recession and a projected one million percent inflation rate hit everyone hard.

Venezuela's president admits economy has failed

Caracas - Under-fire Venezuela President Nicolas Maduro admitted his economic model has "failed" in the wake of food and medicine shortages and public service paralysis, such as Tuesday's power failure that affected 80 percent of Caracas.

Seniors block Venezuela streets demanding pension checks

Caracas - Perched on plastic lawn chairs and leaning on canes, scores of retirees protested Wednesday to demand payment of their retirement benefits in crisis-hit Venezuela.

Brazil Central Bank cuts growth estimate after truckers strike

Bras - Brazil's central bank on Thursday slashed the growth estimate for this year by a full point to 1.6 percent largely due to a massive truckers strike in May that hit many sectors of the economy.

Brazil maintains key interest rate at 6.5%

Rio De Janeiro - Brazil's central bank maintained its key interest rate at 6.5 percent Wednesday, as expected, with inflation considered to be under control despite strong depreciation of the real and a costly truckers' strike.

Brazil expected to keep interest rate at 6.5%

Rio De Janeiro - Brazil's central bank is expected to maintain interest rates at 6.5 percent Wednesday after deciding that strong depreciation of the real and a costly truckers' strike have not fed inflation beyond current limits, analysts say.

Economic crisis cuts swathe through Venezuela society

Maracaibo - On an avenue in Maracaibo, the once-thriving heart of Venezuela's oil industry, the buses no longer run. Instead, people squeeze onto a dinky tourist train to take them home.

Venezuela inflation hits 13,779 percent: lawmakers

Caracas - Venezuela's dizzying inflation rose to 13,779 percent in the past year, a study released Monday by the opposition-dominated National Assembly has found.

In Venezuela, five years of severance pay now buys a coffee

Caracas - When Yolanda Abreu got her check for severance pay after five years working as a cardiologist, she let out a laugh of sheer disbelief: it was barely enough for a cup of coffee.

Economic crisis forces slowdown at Venezuela universities

Caracas - Teachers unable to pay the bus fare to get to class, students stuck in long supermarket lines in the quest for affordable food: Venezuela's academics say the deep economic crisis is paralyzing the country's universities.

Worthless currency becomes art, of sorts, in struggling Venezuela

Caracas - Venezuela's currency has lost so much value that people simply throw away their small bills -- they are virtually worthless anyway.

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