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TLA Times | June 04, 2020

  REGION  

Pandemic speeds up banks’ shift to digital

Latin American banks had been talking a good game about digital transformation, but the COVID-19 pandemic forced them to speed up the shift, Forbes reports. With employees forced to work from home and customers facing social distancing measures, banks centralized operations on the fly. Functions done manually had to go online. The experience shows that a high-tech workflow is more than just nice to have. It is essential. Details


  PERU  

Peru gets two-year $11 billion flexible credit line from IMF

In an effort to give Peru some wiggle room as its economy recovers from the pandemic, the International Monetary Fund approved the nation’s request for an $11 billion flexible credit line, Reuters reports via WHTC radio. The IMF established its flexible credit program in 2009 to prevent economic disasters for countries with performance records. IMF Managing Director Kristalina Georgieva praised Peru for its low inflation and fiscal prudence. Details


  BRAZIL  

Brazil implores Indiato ‘balance’ sugar market

Brazil is asking India to increase ethanol production to lower its sugar refining capacity, The Indian Express reports. Brazilian Sugarcane Industry Association chief Eduardo Leão de Sousa says that if India blended 10% ethanol in its gasoline instead of the current 6% that action would take 4 million tons of sugar off the market. That is about equal to the current worldwide surplus. About two-thirds of Brazil’s sugar production goes for ethanol. Details


  MEXICO  

Travel council awards safety stamp to Mexican Caribbean

The World Travel and Tourism Council has given Cancún and the Mexican Caribbean its safety stamp for adopting globally standardized protocols, Mexico News Daily reports. The destinations, which are preparing to reopen after losing an estimated $1 billion in revenues, are the first in the Americas to receive the stamp. “We have learned from past crises that global standard protocols and consistency provide confidence for the traveler. Our new global safety stamp is designed to help rebuild consumer confidence worldwide,” the WTTC said in a press release. Details

 

Restaurant owner introduces ‘coronaburger’ to save business

To save his business, a restaurant owner in Torreón, Mexico has come up with a “coronaburger,” DailyMail.com reports. René Saucedo, who had already laid off one of his two employees, came up with a $4 burger with a green bun with spikes. The burger contains three types of cheese and comes with avocado dressing. He says most of the customers who order the novel burger are health-care workers.  Details


 

  FUN IN THE SUN  

Casino turned night club turned museum

In the 1920s, Club Tigre was the place to see and be seen in Buenos Aires. Built as a casino to accompany the successful Hotel Tigre, the ornate structure attracted a world-class clientele. Gambling was outlawed in 1933. The hotel was dealt a death blow by the Great Depression and was demolished in 1940. The club continued to function with live performances and dining. But it could not recapture its faded glory, In 2006, the club became the Tigre Municipal Museum of Fine Art, which features work by Quirós, Carlos Pellegrini and other Argentine artists. Details

 

  SNAPSHOT  
GDP pct. growth in Paraguay










Source: data.worldbank.org

  EXCHANGE RATE  
Currency | Per US Dollar

 

 

 

 

 

 

 

 

Figures from June 04, Source: www.xe.com

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