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Peru VP steps down; Markel to sell Brazilian ops

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Peru VP steps down; Markel to sell Brazilian ops

* Peruvian Vice President Mercedes Araoz said she was resigning from the position and would not take up the opposition-designated post of interim president, Reuters reported. "I hope my resignation leads to ... general elections as soon as possible for the good of the country," Araoz said.

* U.K. reinsurer Markel International will sell its Brazilian unit, Markel Seguradora do Brasil SA, to the unit's existing management team, making them the sole shareholders, Reinsurance News reported. Subject to ratification from the Susep private insurance regulator, the unit will change its name to NEWE Seguros.

MEXICO AND CENTRAL AMERICA

* Costa Rica's Congress approved a 20-year, $350 million loan from the Inter-American Development Bank, Reuters reported. The proceeds will be used to finance debt.

* Mexican Economy Minister Arturo Herrera confirmed they will renew a flexible credit line with the International Monetary Fund worth between $70 and $74 billion, El Financiero reported. The credit line, expiring at the end of October, will have "a marginal decrease" from the current $73.4 billion figure, Herrera said.

* Remittances sent to Mexico in August reached a new record at $3.37 billion, up 17% year over year, El Economista reported, citing data from the central bank.

BRAZIL

* The Brazilian Senate voted 56-19 in favor of passing the main text of a pension reform bill, Reuters reported. The bill will face a round of proposed amendments later in the day, and will face a second-round vote, expected on Oct. 10.

* Brazil's trade balance posted a surplus of about $2.25 billion in September, the lowest figure for the month since 2014, when it posted a $946.4 million deficit, Reuters reported. The government now estimates a surplus of $41.8 billion by 2019-end, lower than the $56.7 billion recorded last year.

SOUTHERN CONE

* Chile's IMACEC economic activity index recorded annual growth of 3.7% in August, Reuters reported. Mining activity was up 5.3% in the period following several months of slow performance.

* The fund manager of Banchile Inversiones SA said it was liquidating its Argentine debt fund due to the country's crisis, Diario Financiero reported, citing sources familiar with the matter.

* After failing to meet its monetary base goal in August, the Argentine central bank managed to hit the target in September, which was adjusted to about 1.376 trillion pesos, El Cronista reported.

PAN LATIN AMERICA

* Fitch Ratings warned that Argentina's economic problems likely will impact its neighboring countries at varying levels, with smaller countries mostly bearing the brunt. Growth in smaller economies like Uruguay, Paraguay and Bolivia would be impacted due to their exposure to Argentina in terms of trade and remittances.

* Moody's forecasts an increase in indebtedness and interest costs in Latin American countries in 2020, which will leave little room to manage unforeseen events and implement counter-cyclical fiscal policies, Valor Econômico reported. Brazil, Argentina and Costa Rica will continue to present the weakest fiscal profiles, with a higher debt weight, the rating agency said.

IN OTHER PARTS OF THE WORLD

* Asia-Pacific: IL&FS presents resolution plans; South Korean banks face regulatory sanctions

* Middle East & Africa: Pioneers Holding plots 3-way split; StanChart trims UAE jobs; Fitch cuts Namibia

* North America: Payments companies waver on Libra; TD Ameritrade joins free-trading fray

Pablo Jimenez Arandia contributed to this article.

The Daily Dose has an editorial deadline of 8:00 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.