Argentine Foreign Minister Says a Latin American Common Currency Would Relieve Argentina’s Stress on the Dollar Issue
May05

Argentine Foreign Minister Says a Latin American Common Currency Would Relieve Argentina’s Stress on the Dollar Issue

Argentine Foreign Minister Santiago Cafiero referred to the advantages the issuance of a Latin American common currency would give Argentina. Cafiero stated that the existence of such a currency would relieve the stress that the country is currently facing regarding the state of its foreign reserves and the devaluation of its fiat currency. Argentine Foreign Minister Talks Latin American Common Currency Santiago Cafiero, foreign...

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Brazilian President Lula to Act as BRICS Liaison to Help Argentina, Discusses Credit Line in Brazilian Reals
May05

Brazilian President Lula to Act as BRICS Liaison to Help Argentina, Discusses Credit Line in Brazilian Reals

Brazilian President Luiz Inacio Lula da Silva stated Brazil will serve as a facilitator to try and arrange BRICS bloc assistance for Argentina. Lula stated that the New Development Bank — the BRICS bank — could modify some of its rules to aid Argentina. Also, the two countries are negotiating the establishment of a credit line to pay for Brazilian exports in reals. Brazil to Serve as Bridge Between BRICS and Argentina Brazilian...

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ECB Raises Interest Rates by 25bps Amid ‘Too High’ Inflation, ‘No Pause,’ Lagarde Says
May05

ECB Raises Interest Rates by 25bps Amid ‘Too High’ Inflation, ‘No Pause,’ Lagarde Says

The European Central Bank (ECB) raised its key interest rates by 25 basis points, slowing the pace from previous increases. However, as inflation in the euro area remains persistently high, future rate hikes may still be expected with the regulator insisting it will continue to seek a “timely return” to its 2% inflation target and ECB president Christine Lagarde stating that rates are not “sufficiently restrictive” yet. ECB Eases Pace...

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Iran Seeks BRICS Membership to Counter Western Hegemony, Promote Multipolar World, Says President Raisi
May05

Iran Seeks BRICS Membership to Counter Western Hegemony, Promote Multipolar World, Says President Raisi

Iranian President Ebrahim Raisi has condemned the current unipolar world order, emphasizing that Iran plans to join the BRICS group to help create a multipolar world. “Iran wants to have constructive relations with all states on the basis of common interests,” he stressed. Iran Condemns Unipolar World Order Iranian President Ebrahim Raisi said on Tuesday that Iran plans to join the BRICS group to participate in the creation of a...

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El Salvador Eliminates All Taxes on Technology Innovations, AI, App Programming
May05

El Salvador Eliminates All Taxes on Technology Innovations, AI, App Programming

El Salvador’s president, Nayib Bukele, has enacted a law that eliminates all taxes on technology innovations, software and app programming, AI, computer, and communications hardware manufacturing. The law is expected to boost the country’s technology sector, generate more jobs for its population, and attract foreign investment. Bukele Signs Law to Boost Technology Industry in El Salvador The president of El Salvador, Nayib Bukele,...

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