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Argentina replaces central bank chief; Mexico eyes more tariffs on US imports

* Argentina's government appointed Finance Minister Luis Caputo president of the country's central bank, replacing Federico Sturzenegger, who resigned unexpectedly. "In recent months, various factors have deteriorated my credibility as president of the central bank, a key attribute needed to carry forward the coordination of such important expectations in the work assigned to me," Reuters quoted Sturzenegger as saying in his resignation letter. The government also announced a shake-up in which it will combine its finance ministry with the treasury ministry.

* Mexico could impose tariffs on $4 billion of annual imports of U.S. corn and soybeans if the U.S. decides to levy fresh tariffs on Mexican goods, Mexican officials told Reuters. Mexico retaliated against U.S. tariffs on metal earlier in June by targeting American imports such as steel, apples and pork.

MEXICO AND CENTRAL AMERICA

* Moody's revised its outlook on Nicaragua's ratings to stable from positive, citing the weakening of consensus-building institutions and political unrest. Since a proposed pension reform is unlikely to proceed as planned, the government would have to provide recurrent financial support to the social security body by cutting back on social infrastructure spending, the rating agency said.

* Mexico's financial stability board said a normalization of monetary policy in the U.S. could generate more volatility in financial markets and restrict financing in emerging economies, Reuters reported.

BRAZIL

* Bradespar SA's board approved the issuance of simple nonconvertible debenture securities worth up to 700.0 million reais. The three-year notes will be issued June 28 in a single series and will mature June 28, 2021.

* Brazil's central bank said it plans to offer $10 billion in currency swaps next week, but noted that the amount could rise or fall depending on market conditions, Reuters reported.

ANDEAN

* Venezuelan President Nicolas Maduro appointed National Constituent Assembly head Delcy Rodriguez as executive vice president, Reuters reported. Rodriguez will replace Tareck El Aissami, who will become industry and national production minister.

* Peruvian Finance Minister Carlos Oliva said strengthening business confidence and investments should help the local economy grow by about 4% in 2018, higher than the government's current official forecast of 3.6%, Reuters reported.

* Peru's annual fiscal deficit fell to 2.4% of GDP in May, down 0.3 percentage points from the previous month, Gestión reported, citing central bank data.

SOUTHERN CONE

* The Argentine peso was down 6.28% at 27.98 pesos per U.S. dollar as of 2 p.m. ET on June 14 following a local media report that three Argentine central bank board members would step down soon, Bloomberg News reported. The peso also weakened amid concerns over the central bank's ability to halt the decline of the currency, according to the Financial Times.

* Argentina's inflation rate reached 2.1% in May, according to statistics agency Indec, below the 2.5% estimate from analysts polled by Reuters. For the first five months of 2018, inflation stood at 11.9%, while the rate for the 12 months through May was 26.3%.

* In a letter of intent to the IMF, Argentina's government detailed its strategy to lower its fiscal deficit and make the central bank autonomous, adding that it could take additional steps to meet targets set as part of its $50 billion financing arrangement with the IMF, Reuters reported.

* Chile's central bank raised its 2018 GDP growth estimate for the country to between 3.25% and 4.0% from a previous forecast of 3.0% to 4.0%, Reuters reported. The new growth forecast comes amid an increase in investment and consumption.

* An increasing number of Chilean companies across multiple economic sectors are showing interest in cybersecurity insurance policies following the recent theft of $10 million from Banco de Chile in a cyberattack, La Tercera reported, citing insurance industry executives. Speaking in front of a Senate committee, Chilean central bank officials said the financial sector will never be fully protected against cybersecurity risks, adding that authorities are constantly working to keep up with technological advancements, the publication reported separately.

* Uruguay's economy grew 2.2% in the first quarter compared to a year earlier and expanded 1.1% from the fourth quarter of 2017, El País reported, citing central bank data.

PAN LATIN AMERICA

* Jorge Familiar, the World Bank's vice president for Latin America and the Caribbean, called on countries in the region to invest more in natural disaster prevention and response mechanisms, Prensa Libre reported. The call follows a recent volcano eruption in Guatemala that resulted in more than 100 deaths.

IN OTHER PARTS OF THE WORLD

* Asia-Pacific: India to cut stake in IDBI Bank; former chief of Chinese regulator admits guilt

* Middle East & Africa: Qatar's 3-way bank merger talks collapse; Kenya to repeal interest rate cap

* Europe: ECB to halt QE after December; Deutsche Bank off-loads $1B ship loans

* Global Markets: New York markets pre-open: Dollar dips as US preps China tariffs; bonds rally

The Daily Dose has an editorial deadline of 8 a.m. São Paulo time, and scans news sources published in English, Portuguese and Spanish. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.